Coherus Oncology (NASDAQ:CHRS) Shares Pass Above 200 Day Moving Average - What's Next?

Coherus Oncology, Inc. (NASDAQ:CHRS - Get Free Report)'s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $0.96 and traded as high as $1.04. Coherus Oncology shares last traded at $0.97, with a volume of 1,454,429 shares traded.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on CHRS shares. UBS Group reissued a "neutral" rating and issued a $1.05 price target (down from $1.50) on shares of Coherus Oncology in a report on Thursday, April 24th. HC Wainwright reissued a "buy" rating and issued a $7.00 price target on shares of Coherus Oncology in a report on Tuesday, April 29th. Finally, Wall Street Zen downgraded shares of Coherus Oncology from a "hold" rating to a "sell" rating in a report on Tuesday, May 20th.

Coherus Oncology Price Performance

The business's 50 day moving average is $0.83 and its two-hundred day moving average is $0.95. The firm has a market capitalization of $101.76 million, a PE ratio of -0.78 and a beta of 0.89.

Coherus Oncology (NASDAQ:CHRS - Get Free Report) last issued its quarterly earnings results on Monday, May 12th. The biotechnology company reported ($0.35) EPS for the quarter, missing analysts' consensus estimates of ($0.31) by ($0.04). The business had revenue of $7.60 million for the quarter, compared to analyst estimates of $59.79 million. During the same quarter in the prior year, the firm earned ($0.32) EPS. Analysts expect that Coherus Oncology, Inc. will post -1.05 EPS for the current fiscal year.

Insider Buying and Selling

In other Coherus Oncology news, Director Mats Wahlstrom sold 99,988 shares of the stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $0.74, for a total transaction of $73,991.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 8.08% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Point72 Asset Management L.P. bought a new position in shares of Coherus Oncology in the fourth quarter worth approximately $7,291,000. Tang Capital Management LLC grew its holdings in shares of Coherus Oncology by 55.3% in the fourth quarter. Tang Capital Management LLC now owns 3,650,000 shares of the biotechnology company's stock worth $5,037,000 after purchasing an additional 1,300,000 shares during the last quarter. Stonepine Capital Management LLC grew its holdings in shares of Coherus Oncology by 148.2% in the first quarter. Stonepine Capital Management LLC now owns 620,588 shares of the biotechnology company's stock worth $501,000 after purchasing an additional 370,588 shares during the last quarter. Strs Ohio bought a new position in shares of Coherus Oncology in the first quarter worth approximately $261,000. Finally, Millennium Management LLC grew its holdings in shares of Coherus Oncology by 31.6% in the fourth quarter. Millennium Management LLC now owns 1,049,603 shares of the biotechnology company's stock worth $1,448,000 after purchasing an additional 252,092 shares during the last quarter. 72.82% of the stock is currently owned by 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.