Bank of America Corp DE Has $212,000 Stock Holdings in Coherus BioSciences, Inc. (NASDAQ:CHRS)

Bank of America Corp DE lowered its stake in shares of Coherus BioSciences, Inc. (NASDAQ:CHRS - Free Report) by 76.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 153,332 shares of the biotechnology company's stock after selling 508,348 shares during the period. Bank of America Corp DE owned about 0.13% of Coherus BioSciences worth $212,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of CHRS. Bank of Montreal Can acquired a new position in Coherus BioSciences during the fourth quarter valued at approximately $34,000. Intech Investment Management LLC bought a new stake in shares of Coherus BioSciences during the 4th quarter worth $38,000. The Manufacturers Life Insurance Company acquired a new position in Coherus BioSciences in the 4th quarter valued at $52,000. Ieq Capital LLC bought a new position in Coherus BioSciences in the 4th quarter worth $68,000. Finally, Wells Fargo & Company MN lifted its position in Coherus BioSciences by 32.4% during the 4th quarter. Wells Fargo & Company MN now owns 61,830 shares of the biotechnology company's stock worth $85,000 after acquiring an additional 15,137 shares during the last quarter. 72.82% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CHRS has been the subject of several recent research reports. Wall Street Zen cut Coherus BioSciences from a "hold" rating to a "sell" rating in a report on Tuesday, May 20th. UBS Group restated a "neutral" rating and issued a $1.05 target price (down from $1.50) on shares of Coherus BioSciences in a research note on Thursday, April 24th. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $7.00 target price on shares of Coherus BioSciences in a research report on Tuesday, April 29th.

Insider Buying and Selling

In other Coherus BioSciences news, Director Mats Wahlstrom sold 99,988 shares of the firm's stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $0.74, for a total value of $73,991.12. The sale was disclosed in a document filed with the SEC, which is available at this link. 8.08% of the stock is currently owned by company insiders.

Coherus BioSciences Price Performance

Shares of Coherus BioSciences stock opened at $0.76 on Monday. The firm has a market cap of $88.31 million, a price-to-earnings ratio of -9.52 and a beta of 0.88. The stock's 50-day moving average is $0.89 and its 200-day moving average is $1.12. Coherus BioSciences, Inc. has a one year low of $0.66 and a one year high of $2.43.

Coherus BioSciences (NASDAQ:CHRS - Get Free Report) last posted its quarterly earnings results on Monday, May 12th. The biotechnology company reported ($0.35) earnings per share for the quarter, missing the consensus estimate of ($0.31) by ($0.04). The business had revenue of $7.60 million during the quarter, compared to analysts' expectations of $59.79 million. During the same quarter last year, the business earned ($0.32) earnings per share. On average, equities analysts expect that Coherus BioSciences, Inc. will post -1.05 EPS for the current year.

Coherus BioSciences 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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