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

Key Points

• Coherus Oncology (NASDAQ:CHRS) shares have surged above their two hundred day moving average, trading as high as $1.18 on Monday, although they last traded at $1.16.
• Wall Street analysts recently downgraded Coherus Oncology from a "hold" to a "sell" rating, with an average target price of $4.68 despite two analysts maintaining a Buy rating.
• Institutional investors hold 72.82% of Coherus' stock, with notable increases in stakes by Wells Fargo and Northern Trust during the fourth quarter.

Coherus Oncology, Inc. (NASDAQ:CHRS - Get Free Report) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $0.92 and traded as high as $1.18. Coherus Oncology shares last traded at $1.16, with a volume of 499,566 shares changing hands.

Analyst Ratings Changes

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

Coherus Oncology Stock Up 5.9%

The firm has a 50-day moving average of $0.96 and a 200 day moving average of $0.93. The company has a current ratio of 1.44, a quick ratio of 1.43 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $146.45 million, a price-to-earnings ratio of 0.81 and a beta of 0.88.

Institutional Trading of Coherus Oncology

Hedge funds and other institutional investors have recently modified their holdings of the business. Point72 Asset Management L.P. acquired a new stake in Coherus Oncology during the 4th quarter valued at approximately $7,291,000. Wealth Enhancement Advisory Services LLC raised its stake in shares of Coherus Oncology by 97.3% in 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. Northern Trust Corp lifted its holdings in Coherus Oncology by 12.2% during the 4th quarter. Northern Trust Corp now owns 1,006,505 shares of the biotechnology company's stock worth $1,389,000 after buying an additional 109,770 shares during the last quarter. Millennium Management LLC raised its position 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 acquiring an additional 252,092 shares in the last quarter. Finally, CWM LLC boosted its holdings in shares of Coherus Oncology by 96.6% in the 1st quarter. CWM LLC now owns 49,793 shares of the biotechnology company's stock valued at $40,000 after buying an additional 24,468 shares during the period. 72.82% of the stock is owned by hedge funds and other institutional investors.

About Coherus Oncology

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.