Coherus Oncology (NASDAQ:CHRS) Stock Passes Above 200 Day Moving Average – Should You Sell?

Coherus Oncology, Inc. (NASDAQ:CHRS) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $1.26 and traded as high as $1.55. Coherus Oncology shares last traded at $1.53, with a volume of 2,319,658 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CHRS. Wall Street Zen raised Coherus Oncology from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Weiss Ratings reiterated a “sell (d)” rating on shares of Coherus Oncology in a research report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $4.02.

Coherus Oncology Trading Up 7.0%

The company has a current ratio of 1.24, a quick ratio of 1.23 and a debt-to-equity ratio of 0.42. The stock has a market cap of $184.93 million, a price-to-earnings ratio of 1.15 and a beta of 0.96. The company has a fifty day simple moving average of $1.34 and a 200-day simple moving average of $1.26.

Coherus Oncology (NASDAQ:CHRS) last released its earnings results on Thursday, November 6th. The biotechnology company reported ($0.33) earnings per share for the quarter, topping the consensus estimate of ($0.34) by $0.01. The firm had revenue of $11.57 million during the quarter, compared to analysts’ expectations of $13.41 million. On average, research analysts forecast that Coherus Oncology, Inc. will post -1.05 earnings per share for the current fiscal year.

Institutional Trading of Coherus Oncology

A number of hedge funds have recently modified their holdings of the business. Panagora Asset Management Inc. acquired a new stake in shares of Coherus Oncology in the second quarter worth $581,000. Strs Ohio acquired a new stake in Coherus Oncology during the 1st quarter worth about $261,000. UBS Group AG boosted its position in Coherus Oncology by 38.5% during the 3rd quarter. UBS Group AG now owns 795,941 shares of the biotechnology company’s stock worth $1,305,000 after acquiring an additional 221,410 shares during the period. Acadian Asset Management LLC grew its stake in Coherus Oncology by 52,980.1% during the 1st quarter. Acadian Asset Management LLC now owns 196,927 shares of the biotechnology company’s stock valued at $158,000 after acquiring an additional 196,556 shares in the last quarter. Finally, Bridgeway Capital Management LLC increased its holdings in shares of Coherus Oncology by 78.3% in the 3rd quarter. Bridgeway Capital Management LLC now owns 255,000 shares of the biotechnology company’s stock valued at $418,000 after purchasing an additional 112,000 shares during the period. Hedge funds and other institutional investors own 72.82% of the company’s stock.

Coherus Oncology Company Profile

Coherus Oncology, Inc is a commercial-stage biopharmaceutical company focused on the development, manufacturing and commercialization of biologic therapies for oncology support and immuno-oncology. Founded in 2010 and headquartered in Redwood City, California, Coherus specializes in biosimilar versions of established oncology agents as well as novel immunotherapy candidates.

The company’s lead marketed products include Udenyca (pegfilgrastim-cbqv) and Fulphila (pegfilgrastim-jmdb), biosimilars to Amgen’s Neulasta, which are designed to reduce the incidence of infection in patients undergoing myelosuppressive chemotherapy.