Investors Purchase Large Volume of Coherus Oncology Call Options (NASDAQ:CHRS)

Coherus Oncology, Inc. (NASDAQ:CHRS) was the target of some unusual options trading activity on Friday. Stock traders bought 2,341 call options on the stock. This is an increase of 420% compared to the average volume of 450 call options.

Coherus Oncology Price Performance

Shares of CHRS opened at $2.06 on Friday. The stock has a market cap of $248.99 million, a P/E ratio of 1.55 and a beta of 0.96. Coherus Oncology has a 1 year low of $0.71 and a 1 year high of $2.17. The stock’s 50-day moving average price is $1.39 and its two-hundred day moving average price is $1.33. The company has a current ratio of 1.24, a quick ratio of 1.23 and a debt-to-equity ratio of 0.42.

Coherus Oncology (NASDAQ:CHRS) last announced its quarterly earnings results on Thursday, November 6th. The biotechnology company reported ($0.33) EPS for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.01. The company had revenue of $11.57 million during the quarter, compared to the consensus estimate of $13.41 million. On average, equities analysts predict that Coherus Oncology will post -1.05 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on CHRS. Wall Street Zen raised Coherus Oncology from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Oppenheimer assumed coverage on Coherus Oncology in a research note on Thursday. They set an “outperform” rating and a $10.00 price target on the stock. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Coherus Oncology in a research report on Wednesday, October 8th. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $5.51.

Hedge Funds Weigh In On Coherus Oncology

Hedge funds and other institutional investors have recently made changes to their positions in the company. Panagora Asset Management Inc. bought a new stake in shares of Coherus Oncology in the 2nd quarter valued at $581,000. Strs Ohio acquired a new position in Coherus Oncology in the first quarter valued at about $261,000. UBS Group AG increased its holdings in shares of Coherus Oncology by 38.5% in the third 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 in the last quarter. Acadian Asset Management LLC raised its position in shares of Coherus Oncology by 52,980.1% during the first quarter. Acadian Asset Management LLC now owns 196,927 shares of the biotechnology company’s stock worth $158,000 after purchasing an additional 196,556 shares during the period. Finally, Bridgeway Capital Management LLC lifted its holdings in shares of Coherus Oncology by 78.3% during 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 in the last quarter. 72.82% of the stock is owned by institutional investors.

About Coherus Oncology

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.