Coherus Oncology (NASDAQ:CHRS) Shares Cross Above 200 Day Moving Average - Should You Sell?

Key Points

• Coherus Oncology shares crossed above their 200-day moving average, reaching a trading high of $1.24 with a current price of $1.23.
• Analysts have differing opinions on Coherus, with HC Wainwright maintaining a "buy" rating and a price target of $7.00, while Wall Street Zen downgraded the stock from "hold" to "sell".
• Institutional investors own 72.82% of Coherus Oncology, indicating strong backing from hedge funds and other large investors.

Coherus Oncology, Inc. (NASDAQ:CHRS - Get Free Report) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $0.93 and traded as high as $1.24. Coherus Oncology shares last traded at $1.23, with a volume of 2,572,195 shares.

Analysts Set New Price Targets

Several equities analysts recently weighed in on CHRS shares. HC Wainwright restated a "buy" rating and issued a $7.00 price objective on shares of Coherus Oncology in a report on Tuesday, April 29th. Wall Street Zen lowered shares of Coherus Oncology from a "hold" rating to a "sell" rating in a report on Tuesday, May 20th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, Coherus Oncology presently has an average rating of "Moderate Buy" and an average target price of $4.68.

Coherus Oncology Trading Up 8.8%

The business's 50-day moving average price is $0.89 and its two-hundred day moving average price is $0.93. The company has a market capitalization of $142.96 million, a P/E ratio of 0.79 and a beta of 0.89. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.44 and a quick ratio of 1.43.

Hedge Funds Weigh In On Coherus Oncology

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Corient Private Wealth LLC boosted its position in shares of Coherus Oncology by 20.0% during the second quarter. Corient Private Wealth LLC now owns 60,000 shares of the biotechnology company's stock worth $44,000 after purchasing an additional 10,000 shares in the last quarter. Jane Street Group LLC bought a new position in shares of Coherus Oncology during the second quarter worth $46,000. Invesco Ltd. boosted its position in shares of Coherus Oncology by 11.5% during the second quarter. Invesco Ltd. now owns 208,271 shares of the biotechnology company's stock worth $152,000 after purchasing an additional 21,550 shares in the last quarter. Panagora Asset Management Inc. bought a new position in shares of Coherus Oncology during the second quarter worth $581,000. Finally, Tejara Capital Ltd boosted its position in shares of Coherus Oncology by 1.7% during the second quarter. Tejara Capital Ltd now owns 698,770 shares of the biotechnology company's stock worth $511,000 after purchasing an additional 11,552 shares in the last quarter. 72.82% of the stock is owned by institutional investors.

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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