Tang Capital Management LLC Purchases 1,300,000 Shares of Coherus BioSciences, Inc. (NASDAQ:CHRS)

Tang Capital Management LLC grew its stake in Coherus BioSciences, Inc. (NASDAQ:CHRS - Free Report) by 55.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,650,000 shares of the biotechnology company's stock after purchasing an additional 1,300,000 shares during the quarter. Tang Capital Management LLC owned approximately 3.15% of Coherus BioSciences worth $5,037,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Bank of Montreal Can bought a new position in shares of Coherus BioSciences in the fourth quarter valued at about $34,000. Intech Investment Management LLC acquired a new position in shares of Coherus BioSciences in the fourth quarter valued at approximately $38,000. The Manufacturers Life Insurance Company acquired a new position in shares of Coherus BioSciences in the fourth quarter valued at approximately $52,000. Ieq Capital LLC acquired a new position in shares of Coherus BioSciences in the fourth quarter valued at approximately $68,000. Finally, Wells Fargo & Company MN grew its position in shares of Coherus BioSciences by 32.4% in the fourth quarter. Wells Fargo & Company MN now owns 61,830 shares of the biotechnology company's stock valued at $85,000 after purchasing an additional 15,137 shares during the last quarter. 72.82% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

CHRS has been the topic of several research reports. StockNews.com downgraded Coherus BioSciences from a "hold" rating to a "sell" rating in a research report on Tuesday. 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. Finally, UBS Group reaffirmed a "neutral" rating and set a $1.05 price target (down from $1.50) on shares of Coherus BioSciences in a research report on Thursday, April 24th.

Coherus BioSciences Stock Performance

NASDAQ:CHRS traded up $0.02 during mid-day trading on Tuesday, reaching $0.82. 1,045,916 shares of the company's stock were exchanged, compared to its average volume of 2,718,465. Coherus BioSciences, Inc. has a one year low of $0.66 and a one year high of $2.43. The firm has a market capitalization of $94.61 million, a PE ratio of -10.20 and a beta of 1.01. The business's fifty day simple moving average is $0.92 and its two-hundred day simple moving average is $1.13.

Coherus BioSciences (NASDAQ:CHRS - Get Free Report) last released 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 company had revenue of $7.60 million for the quarter, compared to analyst estimates of $59.79 million. During the same quarter last year, the company posted ($0.32) earnings per share. As a group, equities research analysts forecast 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.