Coherus Oncology (NASDAQ:CHRS) Stock Price Crosses Above 200 Day Moving Average – Here’s Why

Coherus Oncology, Inc. (NASDAQ:CHRS)’s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $1.16 and traded as high as $1.33. Coherus Oncology shares last traded at $1.27, with a volume of 802,809 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Maxim Group upgraded Coherus Oncology from a “hold” rating to a “buy” rating and set a $4.00 price objective on the stock in a research report on Thursday, September 4th. Weiss Ratings reissued a “sell (d)” rating on shares of Coherus Oncology in a research note on Wednesday, October 8th. Finally, Wall Street Zen raised Coherus Oncology from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $4.51.

Coherus Oncology Stock Performance

The business’s fifty day moving average is $1.52 and its two-hundred day moving average is $1.16. The stock has a market capitalization of $153.50 million, a PE ratio of 0.95 and a beta of 0.95. The company has a quick ratio of 1.23, a current ratio of 1.24 and a debt-to-equity ratio of 0.42.

Coherus Oncology (NASDAQ:CHRS) last released its quarterly earnings results on Thursday, November 6th. The biotechnology company reported ($0.33) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.01. The business had revenue of $11.57 million for the quarter, compared to analysts’ expectations of $13.41 million. As a group, research analysts anticipate that Coherus Oncology, Inc. will post -1.05 EPS for the current fiscal year.

Institutional Investors Weigh In On Coherus Oncology

Several large investors have recently added to or reduced their stakes in the stock. Quarry LP purchased a new stake in Coherus Oncology in the third quarter worth $26,000. Focus Partners Wealth bought a new position in shares of Coherus Oncology in the third quarter worth about $70,000. Two Sigma Investments LP purchased a new position in Coherus Oncology in the 3rd quarter worth about $59,000. Bridgeway Capital Management LLC increased its stake in Coherus Oncology by 78.3% in the 3rd quarter. Bridgeway Capital Management LLC now owns 255,000 shares of the biotechnology company’s stock worth $418,000 after buying an additional 112,000 shares during the period. Finally, UBS Group AG lifted its holdings in Coherus Oncology by 38.5% during the 3rd quarter. UBS Group AG now owns 795,941 shares of the biotechnology company’s stock valued at $1,305,000 after buying an additional 221,410 shares in the last quarter. 72.82% of the stock is owned by institutional investors.

About Coherus Oncology

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.