Coherus Oncology (NASDAQ:CHRS) Share Price Crosses Above 200-Day Moving Average - What's Next?

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)'s stock price passed 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 traded.

Wall Street Analyst Weigh In

Separately, Wall Street Zen downgraded shares of Coherus Oncology from a "hold" rating to a "sell" rating in a research report on Tuesday, May 20th. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, Coherus Oncology has an average rating of "Moderate Buy" and an average target price of $4.68.

Coherus Oncology Stock Performance

The business's 50-day moving average price is $0.91 and its 200-day moving average price is $0.93. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.43 and a current ratio of 1.44. The stock has a market cap of $140.06 million, a P/E ratio of 0.77 and a beta of 0.89.

Institutional Investors Weigh In On Coherus Oncology

Hedge funds have recently modified their holdings of the business. Point72 Asset Management L.P. purchased a new position in shares of Coherus Oncology during the 4th quarter valued at $7,291,000. Tang Capital Management LLC lifted its stake in shares of Coherus Oncology by 55.3% during the 4th quarter. Tang Capital Management LLC now owns 3,650,000 shares of the biotechnology company's stock valued at $5,037,000 after buying an additional 1,300,000 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Coherus Oncology by 0.8% during the 2nd quarter. Geode Capital Management LLC now owns 2,676,476 shares of the biotechnology company's stock valued at $1,958,000 after buying an additional 20,976 shares in the last quarter. CM Management LLC lifted its stake in shares of Coherus Oncology by 4.8% during the 1st quarter. CM Management LLC now owns 2,147,500 shares of the biotechnology company's stock valued at $1,733,000 after buying an additional 97,500 shares in the last quarter. Finally, Millennium Management LLC lifted its stake in shares of Coherus Oncology by 31.6% during the 4th quarter. Millennium Management LLC now owns 1,049,603 shares of the biotechnology company's stock valued at $1,448,000 after buying an additional 252,092 shares in the last quarter. Institutional investors 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.