Renaissance Technologies LLC Purchases 242,500 Shares of Coherus BioSciences, Inc. (NASDAQ:CHRS)

Renaissance Technologies LLC lifted its position in shares of Coherus BioSciences, Inc. (NASDAQ:CHRS) by 159.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 394,828 shares of the biotechnology company’s stock after buying an additional 242,500 shares during the period. Renaissance Technologies LLC owned about 0.34% of Coherus BioSciences worth $683,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. BNP Paribas Financial Markets raised its stake in shares of Coherus BioSciences by 694.2% during the first quarter. BNP Paribas Financial Markets now owns 346,157 shares of the biotechnology company’s stock worth $827,000 after acquiring an additional 302,570 shares in the last quarter. Nomura Holdings Inc. lifted its stake in Coherus BioSciences by 225.1% in the fourth quarter. Nomura Holdings Inc. now owns 68,300 shares of the biotechnology company’s stock worth $227,000 after purchasing an additional 47,290 shares during the last quarter. Virtu Financial LLC bought a new stake in Coherus BioSciences in the first quarter worth $94,000. Birchview Capital LP purchased a new stake in Coherus BioSciences during the fourth quarter valued at about $366,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Coherus BioSciences during the first quarter valued at about $108,000. Institutional investors own 72.82% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. UBS Group lowered Coherus BioSciences from a “buy” rating to a “neutral” rating and lowered their target price for the company from $4.00 to $1.50 in a research note on Friday, August 16th. Robert W. Baird dropped their price objective on Coherus BioSciences from $9.00 to $8.00 and set an “outperform” rating for the company in a research note on Monday, July 1st. StockNews.com cut shares of Coherus BioSciences from a “buy” rating to a “hold” rating in a report on Friday, September 6th. Finally, HC Wainwright reiterated a “buy” rating and set a $12.00 price target on shares of Coherus BioSciences in a report on Monday, September 16th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Coherus BioSciences has an average rating of “Moderate Buy” and an average price target of $6.92.

Coherus BioSciences Stock Performance

Shares of CHRS stock opened at $1.04 on Wednesday. The firm has a market cap of $119.32 million, a P/E ratio of -1.33 and a beta of 0.65. The business’s 50 day moving average price is $1.25 and its 200-day moving average price is $1.68. Coherus BioSciences, Inc. has a fifty-two week low of $0.97 and a fifty-two week high of $3.98.

Coherus BioSciences (NASDAQ:CHRS) last issued its quarterly earnings data on Thursday, August 8th. The biotechnology company reported ($0.20) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.10. The company had revenue of $64.98 million for the quarter, compared to analysts’ expectations of $57.08 million. As a group, equities analysts predict that Coherus BioSciences, Inc. will post -1.16 EPS for the current year.

Coherus BioSciences Profile

Coherus BioSciences, Inc, a biopharmaceutical company, focuses on the research, development, and commercialization of cancer treatments primarily in the United States. The company develops UDENYCA, a biosimilar to Neulasta, a long-acting granulocyte-colony stimulating factor; LOQTORZI, a novel PD-1 inhibitor; and Casdozokitug, an investigational recombinant human immunoglobulin isotype G1 (IgG1) monoclonal antibody targeting interleukin 27.