Coherus Oncology (NASDAQ:CHRS) Stock Passes Above 200-Day Moving Average – What’s Next?

Coherus Oncology, Inc. (NASDAQ:CHRS) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $1.50 and traded as high as $1.6450. Coherus Oncology shares last traded at $1.62, with a volume of 1,305,976 shares trading hands.

Analyst Ratings Changes

A number of research firms have issued reports on CHRS. Oppenheimer assumed coverage on shares of Coherus Oncology in a report on Thursday, January 22nd. They set an “outperform” rating and a $10.00 price objective on the stock. Wall Street Zen raised shares of Coherus Oncology from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Coherus Oncology currently has a consensus rating of “Hold” and a consensus price target of $5.51.

Coherus Oncology Stock Performance

The firm has a market cap of $242.14 million, a PE ratio of 1.22 and a beta of 0.99. The company has a quick ratio of 1.23, a current ratio of 1.24 and a debt-to-equity ratio of 0.42. The company has a 50-day simple moving average of $1.70 and a two-hundred day simple moving average of $1.50.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC grew its position in shares of Coherus Oncology by 0.8% during the 2nd quarter. Geode Capital Management LLC now owns 2,676,476 shares of the biotechnology company’s stock valued at $1,958,000 after acquiring an additional 20,976 shares during the period. Panagora Asset Management Inc. lifted its stake in Coherus Oncology by 17.8% in the fourth quarter. Panagora Asset Management Inc. now owns 1,620,271 shares of the biotechnology company’s stock valued at $2,301,000 after purchasing an additional 244,303 shares during the last quarter. Hudson Bay Capital Management LP grew its holdings in Coherus Oncology by 3.1% during the fourth quarter. Hudson Bay Capital Management LP now owns 835,000 shares of the biotechnology company’s stock valued at $1,186,000 after purchasing an additional 25,000 shares during the period. UBS Group AG increased its position in 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 buying an additional 221,410 shares during the last quarter. Finally, Tejara Capital Ltd raised its stake in shares of Coherus Oncology by 1.7% in the second quarter. Tejara Capital Ltd now owns 698,770 shares of the biotechnology company’s stock valued at $511,000 after buying an additional 11,552 shares during the period. 72.82% of the stock is currently owned by hedge funds and other institutional investors.

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.