Two Sigma Investments LP Has $185,000 Stock Holdings in Coherus BioSciences, Inc. (NASDAQ:CHRS)

Two Sigma Investments LP lessened its stake in Coherus BioSciences, Inc. (NASDAQ:CHRS - Free Report) by 80.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 134,138 shares of the biotechnology company's stock after selling 548,242 shares during the period. Two Sigma Investments LP owned about 0.12% of Coherus BioSciences worth $185,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

Several research firms have issued reports on CHRS. Wall Street Zen lowered Coherus BioSciences from a "hold" rating to a "sell" rating in a research note on Tuesday, May 20th. HC Wainwright reiterated a "buy" rating and set a $7.00 target price on shares of Coherus BioSciences in a research report on Tuesday, April 29th. Finally, UBS Group reissued a "neutral" rating and set a $1.05 price target (down from $1.50) on shares of Coherus BioSciences in a report on Thursday, April 24th.

Insiders Place Their Bets

In related news, Director Mats Wahlstrom sold 99,988 shares of the business'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 transaction of $73,991.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 8.08% of the company's stock.

Coherus BioSciences Price Performance

Shares of CHRS stock traded down $0.03 during trading hours on Friday, hitting $0.76. 1,007,194 shares of the company's stock were exchanged, compared to its average volume of 2,702,524. Coherus BioSciences, Inc. has a 52 week low of $0.66 and a 52 week high of $2.43. The stock 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 (NASDAQ:CHRS - Get Free Report) last announced its earnings results on Monday, May 12th. The biotechnology company reported ($0.35) earnings per share 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 the consensus estimate of $59.79 million. During the same period in the previous year, the company posted ($0.32) earnings per share. Equities research analysts forecast that Coherus BioSciences, Inc. will post -1.05 earnings per share for the current fiscal year.

About Coherus BioSciences

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.