Tang Capital Management LLC Grows Stock Holdings in Coherus BioSciences, Inc. (NASDAQ:CHRS)

Tang Capital Management LLC boosted its position in shares of Coherus BioSciences, Inc. (NASDAQ:CHRS - Free Report) by 55.3% during the fourth 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 period. Tang Capital Management LLC owned approximately 3.15% of Coherus BioSciences worth $5,037,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Point72 Asset Management L.P. acquired a new position in shares of Coherus BioSciences in the 4th quarter worth approximately $7,291,000. Millennium Management LLC increased its holdings in Coherus BioSciences by 31.6% during the 4th 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 period. Los Angeles Capital Management LLC raised its holdings in Coherus BioSciences by 20.0% in the fourth quarter. Los Angeles Capital Management LLC now owns 1,116,142 shares of the biotechnology company's stock valued at $1,540,000 after acquiring an additional 186,010 shares in the last quarter. Northern Trust Corp raised its holdings in shares of Coherus BioSciences by 12.2% in the 4th quarter. Northern Trust Corp now owns 1,006,505 shares of the biotechnology company's stock valued at $1,389,000 after purchasing an additional 109,770 shares in the last quarter. Finally, Savant Capital LLC purchased a new stake in Coherus BioSciences during the 4th quarter worth about $130,000. Hedge funds and other institutional investors own 72.82% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. UBS Group restated a "neutral" rating and issued a $1.05 target price (down previously from $1.50) on shares of Coherus BioSciences in a report on Thursday, April 24th. Wall Street Zen cut Coherus BioSciences from a "hold" rating to a "sell" rating in a research note on Tuesday. Finally, HC Wainwright restated a "buy" rating and issued a $7.00 price objective on shares of Coherus BioSciences in a research report on Tuesday, April 29th.

Coherus BioSciences Trading Down 3.8%

Shares of NASDAQ:CHRS traded down $0.03 during trading on Friday, hitting $0.75. 528,528 shares of the stock were exchanged, compared to its average volume of 1,893,564. The company has a market cap of $86.49 million, a PE ratio of -9.33 and a beta of 1.01. Coherus BioSciences, Inc. has a 12-month low of $0.66 and a 12-month high of $2.43. The company has a fifty day moving average price of $0.92 and a two-hundred day moving average price of $1.13.

Coherus BioSciences (NASDAQ:CHRS - Get Free Report) last announced its 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 during the quarter, compared to analysts' expectations of $59.79 million. During the same quarter in the previous year, the business posted ($0.32) EPS. Equities research analysts anticipate that Coherus BioSciences, Inc. will post -1.05 earnings per share for the current fiscal 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.