Coherus Oncology (NASDAQ:CHRS) Stock Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Shares of Coherus Oncology, Inc. (NASDAQ:CHRS) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-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 trading hands.

Wall Street Analyst Weigh In

CHRS has been the subject of several analyst reports. Wall Street Zen raised Coherus Oncology from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Weiss Ratings reissued a “sell (d)” rating on shares of Coherus Oncology in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $4.02.

Coherus Oncology Stock Up 10.5%

The stock has a fifty day simple moving average of $1.34 and a two-hundred day simple moving average of $1.27. 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 posted its quarterly earnings results on Thursday, November 6th. The biotechnology company reported ($0.33) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.01. The business had revenue of $11.57 million for the quarter, compared to the consensus estimate of $13.41 million. On average, research analysts anticipate that Coherus Oncology, Inc. will post -1.05 earnings per share for the current year.

Institutional Trading of Coherus Oncology

Several large investors have recently made changes to their positions in the company. Quarry LP acquired a new position in Coherus Oncology during the 3rd quarter worth approximately $26,000. Voya Investment Management LLC bought a new stake in shares of Coherus Oncology during the third quarter valued at approximately $28,000. International Assets Investment Management LLC bought a new stake in shares of Coherus Oncology during the second quarter valued at approximately $33,000. Corient Private Wealth LLC raised its position in shares of Coherus Oncology by 20.0% during the second quarter. Corient Private Wealth LLC now owns 60,000 shares of the biotechnology company’s stock worth $44,000 after purchasing an additional 10,000 shares during the period. Finally, BNP Paribas Financial Markets grew its position in Coherus Oncology by 108.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 26,620 shares of the biotechnology company’s stock valued at $44,000 after purchasing an additional 13,832 shares during the period. 72.82% of the stock is currently owned by institutional investors and hedge funds.

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.