Coherus BioSciences Inc. (CHRS) Trading Down 1.1%
Coherus BioSciences Inc. (NASDAQ:CHRS) fell 1.1% during mid-day trading on Tuesday . The stock traded as low as $20.94 and last traded at $21.68, with a volume of 372,260 shares. The stock had previously closed at $21.93.
Separately, Zacks Investment Research downgraded Coherus BioSciences from a “buy” rating to a “hold” rating in a report on Tuesday, May 3rd.
The firm’s 50 day moving average price is $17.35 and its 200 day moving average price is $17.84. The stock’s market capitalization is $862.47 million.
Coherus BioSciences (NASDAQ:CHRS) last issued its earnings results on Monday, May 9th. The company reported ($1.67) earnings per share for the quarter, missing the consensus estimate of ($1.42) by $0.25. Analysts predict that Coherus BioSciences Inc. will post ($5.90) earnings per share for the current fiscal year.
In other news, insider Peter K. Watler sold 12,000 shares of the company’s stock in a transaction dated Tuesday, May 17th. The stock was sold at an average price of $20.00, for a total transaction of $240,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Alan C. Herman sold 4,250 shares of the company’s stock in a transaction dated Wednesday, June 1st. The stock was sold at an average price of $18.67, for a total value of $79,347.50. Following the sale, the insider now owns 202,365 shares of the company’s stock, valued at approximately $3,778,154.55. The disclosure for this sale can be found here.
Several hedge funds recently added to or reduced their stakes in CHRS. Columbus Circle Investors increased its stake in Coherus BioSciences by 33.0% in the fourth quarter. Columbus Circle Investors now owns 276,752 shares of the company’s stock valued at $6,354,000 after buying an additional 68,666 shares during the period. CAM Group Holding A S increased its stake in Coherus BioSciences by 17.7% in the fourth quarter. CAM Group Holding A S now owns 146,000 shares of the company’s stock valued at $3,352,000 after buying an additional 22,000 shares during the period. Jennison Associates LLC increased its stake in Coherus BioSciences by 3.1% in the fourth quarter. Jennison Associates LLC now owns 367,021 shares of the company’s stock valued at $8,427,000 after buying an additional 11,023 shares during the period. Finally, Brown Advisory Inc. increased its stake in Coherus BioSciences by 3.0% in the fourth quarter. Brown Advisory Inc. now owns 200,918 shares of the company’s stock valued at $4,614,000 after buying an additional 5,937 shares during the period.
Coherus BioSciences, Inc is a late-stage clinical biologics platform company. The Company is focused on the global biosimilar market. The Company operates through developing and commercializing biosimilar products segment. Its business is organized around therapeutic franchises, including Oncology biosimilar candidates pegfilgrastim (Neulasta), in late clinical-stage, and bevacizumab (Avastin), in preclinical-stage; Immunology (Anti-TNF) biosimilar candidates, etanercept (Enbrel) and adalimumab (Humira), which are both in late clinical-stage; Ophthalmology biosimilar candidate ranibizumab (Lucentis) in preclinical stage, and Multiple sclerosis small molecule therapeutic candidate, CHS-131 (formerly INT-131), in Phase II proof-of-concept trial.
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