Coherus BioSciences Inc. (CHRS) Shares Down 1.1%
Coherus BioSciences Inc. (NASDAQ:CHRS)’s share price dropped 1.1% on Tuesday . The stock traded as low as $20.94 and last traded at $21.68, with a volume of 372,260 shares traded. The stock had previously closed at $21.93.
Separately, Zacks Investment Research downgraded shares of Coherus BioSciences from a “hold” rating to a “sell” rating in a research note on Thursday, May 12th.
The firm has a 50-day moving average of $17.22 and a 200-day moving average of $17.81. The firm’s market capitalization is $896.72 million.
Coherus BioSciences (NASDAQ:CHRS) last released its earnings results on Monday, May 9th. The company reported ($1.67) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($1.42) by $0.25. Analysts expect that Coherus BioSciences Inc. will post ($5.90) EPS for the current fiscal year.
In related news, insider Alan C. Herman sold 4,250 shares of the company’s stock in a transaction dated Monday, May 2nd. The shares were sold at an average price of $19.20, for a total value of $81,600.00. Following the transaction, the insider now owns 207,167 shares in the company, valued at approximately $3,977,606.40. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, 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 disclosure for this sale can be found here.
Other institutional investors have recently made changes to their positions in the company. Columbus Circle Investors boosted its position in shares of Coherus BioSciences by 33.0% in the fourth quarter. Columbus Circle Investors now owns 276,752 shares of the company’s stock worth $6,354,000 after buying an additional 68,666 shares during the last quarter. CAM Group Holding A S boosted its position 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 in the last quarter. Jennison Associates LLC boosted its position 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 in the last quarter. Finally, Brown Advisory Inc. boosted its position 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 in the last quarter.
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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