Bank of New York Mellon Corp Buys 82,222 Shares of Coherus BioSciences, Inc. (NASDAQ:CHRS)

Bank of New York Mellon Corp increased its stake in shares of Coherus BioSciences, Inc. (NASDAQ:CHRS) by 26.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 391,002 shares of the biotechnology company’s stock after purchasing an additional 82,222 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.34% of Coherus BioSciences worth $540,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Geode Capital Management LLC lifted its position in shares of Coherus BioSciences by 7.7% during the third quarter. Geode Capital Management LLC now owns 2,565,145 shares of the biotechnology company’s stock valued at $2,668,000 after buying an additional 182,914 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Coherus BioSciences by 13.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 964,327 shares of the biotechnology company’s stock valued at $1,003,000 after acquiring an additional 116,217 shares in the last quarter. XTX Topco Ltd increased its position in shares of Coherus BioSciences by 74.5% during the third quarter. XTX Topco Ltd now owns 473,517 shares of the biotechnology company’s stock worth $492,000 after purchasing an additional 202,084 shares in the last quarter. Tyche Wealth Partners LLC raised its stake in Coherus BioSciences by 23.6% in the fourth quarter. Tyche Wealth Partners LLC now owns 266,766 shares of the biotechnology company’s stock valued at $368,000 after buying an additional 50,864 shares during the last quarter. Finally, FMR LLC raised its position in shares of Coherus BioSciences by 21.1% in the 3rd quarter. FMR LLC now owns 225,113 shares of the biotechnology company’s stock valued at $234,000 after purchasing an additional 39,204 shares during the last quarter. Institutional investors own 72.82% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on CHRS shares. Robert W. Baird upped their target price on Coherus BioSciences from $4.00 to $6.00 and gave the company an “outperform” rating in a research report on Thursday, December 5th. HC Wainwright reaffirmed a “buy” rating and set a $7.00 target price on shares of Coherus BioSciences in a research note on Tuesday, March 11th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $5.38.

Coherus BioSciences Stock Performance

Shares of CHRS stock opened at $0.85 on Friday. Coherus BioSciences, Inc. has a fifty-two week low of $0.66 and a fifty-two week high of $2.61. The company has a 50 day moving average price of $1.10 and a 200 day moving average price of $1.15. The stock has a market capitalization of $98.63 million, a P/E ratio of -10.64 and a beta of 0.92.

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.