Coherus Oncology (NASDAQ:CHRS) Share Price Crosses Above 200 Day Moving Average - Here's Why

Coherus Oncology, Inc. (NASDAQ:CHRS - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $1.07 and traded as high as $1.72. Coherus Oncology shares last traded at $1.67, with a volume of 451,430 shares traded.

Wall Street Analysts Forecast Growth

CHRS has been the subject of a number of analyst reports. Maxim Group raised shares of Coherus Oncology from a "hold" rating to a "buy" rating and set a $4.00 price objective for the company in a report on Thursday, September 4th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Coherus Oncology in a report on Wednesday, October 8th. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $4.51.

Coherus Oncology Stock Performance

The company has a market capitalization of $194.10 million, a P/E ratio of 1.08 and a beta of 0.97. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.44 and a quick ratio of 1.43. The stock's 50 day simple moving average is $1.45 and its two-hundred day simple moving average is $1.07.

Institutional Investors Weigh In On Coherus Oncology

Institutional investors have recently modified their holdings of the business. Strs Ohio acquired a new stake in shares of Coherus Oncology during the 1st quarter worth approximately $261,000. CWM LLC grew its position in shares of Coherus Oncology by 96.6% during the 1st quarter. CWM LLC now owns 49,793 shares of the biotechnology company's stock worth $40,000 after buying an additional 24,468 shares during the period. Deutsche Bank AG grew its position in shares of Coherus Oncology by 198.9% during the 1st quarter. Deutsche Bank AG now owns 117,983 shares of the biotechnology company's stock worth $96,000 after buying an additional 78,508 shares during the period. Ieq Capital LLC grew its position in shares of Coherus Oncology by 52.5% during the 1st quarter. Ieq Capital LLC now owns 75,020 shares of the biotechnology company's stock worth $61,000 after buying an additional 25,837 shares during the period. Finally, Stonepine Capital Management LLC grew its position in shares of Coherus Oncology by 148.2% during the 1st quarter. Stonepine Capital Management LLC now owns 620,588 shares of the biotechnology company's stock worth $501,000 after buying an additional 370,588 shares during the period. Institutional investors and hedge funds own 72.82% of the company's stock.

Coherus Oncology 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.

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