Algert Global LLC Reduces Position in Coherus Biosciences Inc (CHRS)
Algert Global LLC lowered its holdings in shares of Coherus Biosciences Inc (NASDAQ:CHRS) by 15.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,921 shares of the biotechnology company’s stock after selling 5,312 shares during the period. Algert Global LLC’s holdings in Coherus Biosciences were worth $494,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. Tower Research Capital LLC TRC bought a new stake in Coherus Biosciences during the second quarter worth about $118,000. Principal Financial Group Inc. bought a new position in shares of Coherus Biosciences in the first quarter worth approximately $115,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Coherus Biosciences in the second quarter worth approximately $193,000. BlueMountain Capital Management LLC bought a new position in shares of Coherus Biosciences in the second quarter worth approximately $214,000. Finally, Renaissance Technologies LLC bought a new position in shares of Coherus Biosciences in the third quarter worth approximately $282,000. 93.31% of the stock is currently owned by institutional investors and hedge funds.
Shares of NASDAQ CHRS opened at $10.44 on Monday. The company has a market capitalization of $710.18 million, a PE ratio of -2.33 and a beta of 3.68. Coherus Biosciences Inc has a 52-week low of $8.30 and a 52-week high of $20.66. The company has a debt-to-equity ratio of 8.29, a quick ratio of 5.31 and a current ratio of 5.31.
Several research analysts have recently issued reports on the stock. BidaskClub downgraded shares of Coherus Biosciences from a “buy” rating to a “hold” rating in a research note on Tuesday, September 11th. ValuEngine downgraded shares of Coherus Biosciences from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 14th. Zacks Investment Research downgraded shares of Coherus Biosciences from a “hold” rating to a “sell” rating in a research note on Wednesday, November 28th. HC Wainwright set a $28.00 target price on shares of Coherus Biosciences and gave the stock a “buy” rating in a research note on Monday, November 5th. Finally, Cowen reiterated a “buy” rating and issued a $45.00 target price on shares of Coherus Biosciences in a research note on Friday, November 2nd. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $27.20.
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Coherus Biosciences Company Profile
Coherus BioSciences, Inc, a biosimilar company, develops and commercializes various therapeutic products worldwide. The company engages in the development of late-stage clinical products, including CHS-1701 pegfilgrastim biosimilar, a granulocyte colony-stimulating factor product candidate; CHS-1420 adalimumab biosimilar, an anti-tumor necrosis factor product candidate; and CHS-0214, an etanercept biosimilar for rheumatoid arthritis and psoriasis.
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