Coherus Oncology, Inc. (NASDAQ:CHRS) Sees Significant Decline in Short Interest

Key Points

• Short interest fell 46.6% to 12.45 million shares as of October 15, representing about 8.7% of Coherus Oncology’s outstanding shares and 7.9 days of average trading volume.
• CHRS shares declined 7.6% to $0.83, near their 12-month low of $0.81. The company remains deeply unprofitable, with negative margins and analysts forecasting a $0.87 per-share loss for the current year.
• Analyst sentiment is mixed but leans moderately bullish: HC Wainwright initiated coverage with a Buy rating, contributing to an average rating of “Moderate Buy” and an $11 target price, while early oncology data provided a potential development catalyst.

Coherus Oncology, Inc. (NASDAQ:CHRS - Get Free Report) was the recipient of a significant decline in short interest during the month of October. As of October 15th, there was short interest totaling 12,452,177 shares, a decline of 46.6% from the September 30th total of 23,337,539 shares. Based on an average daily volume of 1,579,236 shares, the short-interest ratio is presently 7.9 days. Approximately 8.7% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CHRS. Weiss Ratings upgraded Coherus Oncology from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Monday. HC Wainwright assumed coverage on Coherus Oncology in a research report on Thursday. They issued a "buy" rating for the company. Three investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $11.00.

Institutional Investors Weigh In On Coherus Oncology

Institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in Coherus Oncology in the 2nd quarter worth $16,805,000. Sei Investments Co. raised its stake in shares of Coherus Oncology by 492.2% during the first quarter. Sei Investments Co. now owns 453,763 shares of the biotechnology company's stock valued at $767,000 after acquiring an additional 377,134 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Coherus Oncology by 140.5% during the first quarter. Renaissance Technologies LLC now owns 331,700 shares of the biotechnology company's stock worth $561,000 after purchasing an additional 193,800 shares during the period. Bank of America Corp DE grew its stake in shares of Coherus Oncology by 190.2% in the first quarter. Bank of America Corp DE now owns 324,133 shares of the biotechnology company's stock worth $548,000 after purchasing an additional 212,430 shares during the last quarter. Finally, GSA Capital Partners LLP bought a new stake in shares of Coherus Oncology in the second quarter worth about $531,000. Hedge funds and other institutional investors own 72.82% of the company's stock.

Coherus Oncology Trading Down 7.6%

Coherus Oncology stock traded down $0.07 during trading hours on Friday, reaching $0.83. The company had a trading volume of 2,185,506 shares, compared to its average volume of 1,595,360. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.77 and a quick ratio of 1.70. Coherus Oncology has a 12-month low of $0.81 and a 12-month high of $2.62. The company has a 50-day moving average price of $1.20 and a 200 day moving average price of $1.53. The firm has a market cap of $128.25 million, a price-to-earnings ratio of -0.81 and a beta of 0.98.

Coherus Oncology (NASDAQ:CHRS - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The biotechnology company reported ($0.19) earnings per share for the quarter, beating analysts' consensus estimates of ($0.25) by $0.06. Coherus Oncology had a negative return on equity of 222.75% and a negative net margin of 259.41%. The firm had revenue of $14.31 million during the quarter, compared to analyst estimates of $14.41 million. Equities analysts forecast that Coherus Oncology will post -0.87 earnings per share for the current year.

More Coherus Oncology News

Here are the key news stories impacting Coherus Oncology this week:

• Positive Sentiment: HC Wainwright initiated coverage of Coherus Oncology with a Buy rating, signaling confidence in the biotechnology company's longer-term prospects. The analyst projects losses narrowing from $0.91 per share in fiscal 2026 to $0.63 in fiscal 2027, $0.19 in fiscal 2029, and a return to positive earnings of $0.19 per share in fiscal 2030. HC Wainwright Initiates Coverage on Coherus Oncology
• Positive Sentiment: Early data from Coherus's oncology program reportedly showed encouraging results in esophageal squamous cell carcinoma (ESCC), offering a possible development catalyst. However, investors are questioning whether the results can support additional indications. Early data good in ESCC, but can Coherus tagmo indications?
• Neutral Sentiment: HC Wainwright's detailed forecasts call for quarterly losses of $0.22 per share in Q3 2026, $0.21 in Q4 2026, and approximately $0.17 to $0.13 per share through 2027. The estimates indicate gradual improvement, but not near-term profitability. Coherus Oncology analyst estimates
• Negative Sentiment: The company is still expected to report substantial losses, with HC Wainwright's fiscal 2026 estimate of a $0.91 per-share loss slightly worse than the $0.87 consensus estimate. Persistent losses and uncertainty over expanding the ESCC data into broader indications likely weigh on investor sentiment.

About Coherus Oncology

Coherus Oncology, formerly known as Coherus BioSciences, is a commercial-stage biopharmaceutical company focused primarily on developing and commercializing medicines for cancer and other serious diseases. The company has built its business around biologic therapies, including biosimilars and innovative treatments intended to improve access to important medicines.

Its portfolio includes UDENYCA (pegfilgrastim-cbq), a long-acting treatment used to reduce the risk of infection associated with chemotherapy, and LOQTORZI (toripalimab-tpzi), an immuno-oncology therapy approved in the United States for certain patients with nasopharyngeal carcinoma.

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