Coherus BioSciences, Inc. (NASDAQ:CHRS) Director Sells $73,991.12 in Stock

Coherus BioSciences, Inc. (NASDAQ:CHRS - Get Free Report) Director Mats Wahlstrom sold 99,988 shares of the company's stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $0.74, for a total value of $73,991.12. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Coherus BioSciences Stock Performance

Shares of Coherus BioSciences stock traded down $0.01 on Monday, reaching $0.77. 913,201 shares of the company were exchanged, compared to its average volume of 2,704,873. Coherus BioSciences, Inc. has a 1-year low of $0.66 and a 1-year high of $2.43. The firm has a market cap of $88.80 million, a price-to-earnings ratio of -9.58 and a beta of 1.01. The company's 50-day moving average is $0.90 and its two-hundred day moving average is $1.13.

Coherus BioSciences (NASDAQ:CHRS - Get Free Report) last issued its quarterly earnings data on Monday, May 12th. The biotechnology company reported ($0.35) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.31) by ($0.04). The company had revenue of $7.60 million during the quarter, compared to analyst estimates of $59.79 million. During the same period last year, the business earned ($0.32) earnings per share. As a group, sell-side analysts forecast that Coherus BioSciences, Inc. will post -1.05 earnings per share for the current year.

Hedge Funds Weigh In On Coherus BioSciences

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bank of Montreal Can bought a new position in Coherus BioSciences in the 4th quarter worth approximately $34,000. Intech Investment Management LLC bought a new position in Coherus BioSciences in the 4th quarter worth approximately $38,000. Wealth Enhancement Advisory Services LLC boosted its stake in Coherus BioSciences by 97.3% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 30,847 shares of the biotechnology company's stock valued at $43,000 after purchasing an additional 15,214 shares in the last quarter. The Manufacturers Life Insurance Company acquired a new position in shares of Coherus BioSciences during the 4th quarter valued at $52,000. Finally, Ieq Capital LLC acquired a new position in shares of Coherus BioSciences during the 4th quarter valued at $68,000. 72.82% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CHRS has been the topic of a number of research reports. UBS Group reiterated a "neutral" rating and set a $1.05 price target (down from $1.50) on shares of Coherus BioSciences in a research report on Thursday, April 24th. HC Wainwright reiterated a "buy" rating and set a $7.00 price target on shares of Coherus BioSciences in a research report on Tuesday, April 29th. Finally, Wall Street Zen cut Coherus BioSciences from a "hold" rating to a "sell" rating in a research report on Tuesday, May 20th.

Coherus BioSciences Company 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.