Bank of America Corp DE Has $1.14 Million Position in Coherus Biosciences Inc (CHRS)

Bank of America Corp DE increased its position in shares of Coherus Biosciences Inc (NASDAQ:CHRS) by 150.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 126,325 shares of the biotechnology company’s stock after purchasing an additional 75,928 shares during the period. Bank of America Corp DE owned 0.19% of Coherus Biosciences worth $1,143,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Boston Advisors LLC boosted its stake in Coherus Biosciences by 12.7% in the fourth quarter. Boston Advisors LLC now owns 33,060 shares of the biotechnology company’s stock valued at $299,000 after acquiring an additional 3,725 shares in the last quarter. Renaissance Technologies LLC acquired a new position in Coherus Biosciences in the third quarter valued at $282,000. Pura Vida Investments LLC acquired a new position in Coherus Biosciences in the fourth quarter valued at $1,910,000. Federated Investors Inc. PA boosted its stake in Coherus Biosciences by 153.2% in the third quarter. Federated Investors Inc. PA now owns 136,071 shares of the biotechnology company’s stock valued at $2,245,000 after acquiring an additional 82,334 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in Coherus Biosciences by 17.9% in the third quarter. Vanguard Group Inc. now owns 2,682,801 shares of the biotechnology company’s stock valued at $44,266,000 after acquiring an additional 406,520 shares in the last quarter. Institutional investors own 94.77% of the company’s stock.

In other news, CFO Jean-Frederic Viret sold 3,000 shares of the company’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $14.92, for a total value of $44,760.00. Following the completion of the sale, the chief financial officer now directly owns 13,185 shares of the company’s stock, valued at $196,720.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 18.20% of the stock is currently owned by corporate insiders.

Shares of NASDAQ:CHRS opened at $17.47 on Friday. Coherus Biosciences Inc has a one year low of $8.32 and a one year high of $20.66. The company has a debt-to-equity ratio of 8.29, a current ratio of 2.54 and a quick ratio of 2.49. The stock has a market capitalization of $1.12 billion, a PE ratio of -5.43 and a beta of 3.64.

Coherus Biosciences (NASDAQ:CHRS) last announced its earnings results on Thursday, February 28th. The biotechnology company reported ($0.92) EPS for the quarter, missing analysts’ consensus estimates of ($0.82) by ($0.10). As a group, sell-side analysts predict that Coherus Biosciences Inc will post -1.49 EPS for the current year.

Several research firms have issued reports on CHRS. ValuEngine upgraded shares of Coherus Biosciences from a “hold” rating to a “buy” rating in a research note on Friday. Zacks Investment Research downgraded shares of Coherus Biosciences from a “buy” rating to a “hold” rating in a research note on Friday. HC Wainwright began coverage on shares of Coherus Biosciences in a research note on Tuesday, May 7th. They issued a “buy” rating and a $28.00 price objective for the company. BidaskClub upgraded shares of Coherus Biosciences from a “hold” rating to a “buy” rating in a research note on Tuesday, April 30th. Finally, Robert W. Baird set a $28.00 target price on shares of Coherus Biosciences and gave the company a “buy” rating in a report on Wednesday, April 10th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Coherus Biosciences presently has a consensus rating of “Buy” and a consensus price target of $28.00.

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Coherus Biosciences Profile

Coherus BioSciences, Inc, a commercial-stage biotherapeutics company, focuses on the biosimilar market worldwide. It markets UDENYCA, a long-acting granulocyte-colony stimulating factor, which stimulates production of granulocytes in order to promote the body's ability to fight infections. The company sells UDENYCA in the United States.

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Institutional Ownership by Quarter for Coherus Biosciences (NASDAQ:CHRS)

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