Stonepine Capital Management LLC Acquires 370,588 Shares of Coherus Oncology, Inc. $CHRS

Key Points

• Stonepine Capital Management LLC significantly increased its stake in Coherus Oncology by 148.2%, now holding 620,588 shares valued at approximately $501,000.
• Several institutional investors have also raised their positions in Coherus Oncology, with 72.82% of the company currently owned by hedge funds and institutional investors.
• Analyst ratings are mixed, with HC Wainwright maintaining a "buy" rating and a target price of $7.00, while Wall Street Zen downgraded the stock from "hold" to "sell."

Stonepine Capital Management LLC raised its holdings in shares of Coherus Oncology, Inc. (NASDAQ:CHRS - Free Report) by 148.2% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 620,588 shares of the biotechnology company's stock after buying an additional 370,588 shares during the period. Stonepine Capital Management LLC owned about 0.54% of Coherus Oncology worth $501,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Bank of Montreal Can bought a new stake in Coherus Oncology during the fourth quarter worth approximately $34,000. CWM LLC lifted its position 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 acquiring an additional 24,468 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position 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 acquiring an additional 15,214 shares in the last quarter. Cerity Partners LLC lifted its position in shares of Coherus Oncology by 84.0% in the 1st quarter. Cerity Partners LLC now owns 54,676 shares of the biotechnology company's stock valued at $44,000 after acquiring an additional 24,953 shares in the last quarter. Finally, The Manufacturers Life Insurance Company purchased a new stake in shares of Coherus Oncology in the 4th quarter valued at approximately $52,000. 72.82% of the stock is currently owned by institutional investors.

Coherus Oncology Stock Down 1.3%

CHRS stock traded down $0.02 during midday trading on Friday, reaching $1.17. The company had a trading volume of 269,463 shares, compared to its average volume of 1,665,114. Coherus Oncology, Inc. has a 1 year low of $0.66 and a 1 year high of $2.43. 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 company has a market capitalization of $135.41 million, a P/E ratio of 0.75 and a beta of 0.89. The company has a 50 day moving average of $0.92 and a two-hundred day moving average of $0.93.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen downgraded shares of Coherus Oncology from a "hold" rating to a "sell" rating in a research report on Tuesday, May 20th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, Coherus Oncology currently has an average rating of "Moderate Buy" and a consensus price target of $4.68.

Coherus Oncology 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.