Millennium Management LLC Boosts Holdings in Coherus BioSciences, Inc. (NASDAQ:CHRS)

Millennium Management LLC lifted its holdings in shares of Coherus BioSciences, Inc. (NASDAQ:CHRS) by 31.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,049,603 shares of the biotechnology company’s stock after purchasing an additional 252,092 shares during the period. Millennium Management LLC owned about 0.91% of Coherus BioSciences worth $1,448,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of CHRS. Northern Trust Corp increased its position in Coherus BioSciences by 12.2% during the 4th quarter. Northern Trust Corp now owns 1,006,505 shares of the biotechnology company’s stock worth $1,389,000 after purchasing an additional 109,770 shares in the last quarter. The Manufacturers Life Insurance Company purchased a new stake in Coherus BioSciences in the 4th quarter worth approximately $52,000. MetLife Investment Management LLC purchased a new stake in shares of Coherus BioSciences in the fourth quarter valued at $101,000. Bank of Montreal Can purchased a new stake in shares of Coherus BioSciences in the fourth quarter valued at $34,000. Finally, Wells Fargo & Company MN grew its holdings in Coherus BioSciences by 32.4% in the 4th quarter. Wells Fargo & Company MN now owns 61,830 shares of the biotechnology company’s stock valued at $85,000 after buying an additional 15,137 shares during the period. 72.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on CHRS shares. Wall Street Zen downgraded shares of Coherus BioSciences from a “hold” rating to a “sell” rating in a report on Tuesday, May 20th. HC Wainwright reiterated a “buy” rating and set a $7.00 price objective on shares of Coherus BioSciences in a research note on Tuesday, April 29th. Finally, UBS Group reaffirmed a “neutral” rating and set a $1.05 price target (down from $1.50) on shares of Coherus BioSciences in a research report on Thursday, April 24th.

Insiders Place Their Bets

In other Coherus BioSciences news, Director Mats Wahlstrom sold 99,988 shares of the firm’s stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $0.74, for a total value of $73,991.12. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 8.08% of the stock is currently owned by corporate insiders.

Coherus BioSciences Stock Performance

Shares of CHRS opened at $0.78 on Wednesday. The company has a market capitalization of $90.43 million, a P/E ratio of -9.75 and a beta of 1.01. The stock has a 50-day moving average price of $0.89 and a 200 day moving average price of $1.13. Coherus BioSciences, Inc. has a one year low of $0.66 and a one year high of $2.43.

Coherus BioSciences (NASDAQ:CHRS) last announced its quarterly earnings data on Monday, May 12th. The biotechnology company reported ($0.35) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.31) by ($0.04). The company 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 earned ($0.32) EPS. As a group, equities research analysts forecast 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.