Coherus Oncology (NASDAQ:CHRS) Stock Price Crosses Above Two Hundred Day Moving Average - Should You Sell?

Key Points

• Coherus Oncology's stock (NASDAQ:CHRS) recently crossed above its 200-day moving average of $0.99, trading as high as $1.67.
• Maxim Group upgraded Coherus's rating from "hold" to "buy" with a new price target of $4.00, reflecting a consensus rating of "Moderate Buy" among analysts.
• Institutional investors own approximately 72.82% of Coherus Oncology's stock, indicating strong institutional interest in the company.

Coherus Oncology, Inc. (NASDAQ:CHRS - Get Free Report) shares crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $0.99 and traded as high as $1.67. Coherus Oncology shares last traded at $1.66, with a volume of 824,297 shares.

Analysts Set New Price Targets

Separately, Maxim Group upgraded shares of Coherus Oncology from a "hold" rating to a "buy" rating and set a $4.00 price target on the stock in a research report on Thursday, September 4th. Three equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $4.51.

Coherus Oncology Stock Up 2.5%

The firm's 50-day moving average price is $1.22 and its 200 day moving average price is $0.99. The firm has a market capitalization of $192.94 million, a price-to-earnings ratio of 1.07 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.

Institutional Trading of Coherus Oncology

Hedge funds have recently bought and sold shares of the company. International Assets Investment Management LLC acquired a new stake in Coherus Oncology during the second quarter worth approximately $33,000. CWM LLC boosted its position in Coherus Oncology by 96.6% during the first quarter. CWM LLC now owns 49,793 shares of the biotechnology company's stock worth $40,000 after acquiring an additional 24,468 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in Coherus Oncology by 97.3% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 30,847 shares of the biotechnology company's stock worth $43,000 after acquiring an additional 15,214 shares during the last quarter. Cerity Partners LLC boosted its position in Coherus Oncology by 84.0% during the first quarter. Cerity Partners LLC now owns 54,676 shares of the biotechnology company's stock worth $44,000 after acquiring an additional 24,953 shares during the last quarter. Finally, Corient Private Wealth LLC boosted its position in 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 acquiring an additional 10,000 shares during the last quarter. 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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