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

Coherus Oncology, Inc. (NASDAQ:CHRS) saw unusually large options trading on Friday. Investors bought 2,341 call options on the company. This represents an increase of approximately 420% compared to the average daily volume of 450 call options.

Coherus Oncology Stock Up 29.6%

Shares of NASDAQ:CHRS opened at $2.06 on Friday. The company’s fifty day moving average is $1.39 and its 200-day moving average is $1.34. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.23 and a current ratio of 1.24. Coherus Oncology has a 52 week low of $0.71 and a 52 week high of $2.17. The company has a market capitalization of $248.99 million, a PE ratio of 1.55 and a beta of 0.96.

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

Wall Street Analysts Forecast Growth

CHRS has been the subject of a number of recent research reports. Oppenheimer began coverage on Coherus Oncology in a research note on Thursday. They issued an “outperform” rating and a $10.00 target price for the company. Weiss Ratings reissued a “sell (d)” rating on shares of Coherus Oncology in a report on Wednesday, October 8th. Finally, Wall Street Zen raised shares of Coherus Oncology from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Three 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 MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $5.51.

Institutional Investors Weigh In On Coherus Oncology

Large investors have recently bought and sold shares of the business. Jefferies Financial Group Inc. boosted its position in Coherus Oncology by 2.5% during the 3rd quarter. Jefferies Financial Group Inc. now owns 325,625 shares of the biotechnology company’s stock worth $534,000 after acquiring an additional 8,000 shares during the last quarter. Corient Private Wealth LLC lifted its position in shares of Coherus Oncology by 20.0% in 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 in the last quarter. Tejara Capital Ltd boosted its holdings in Coherus Oncology by 1.7% during the second quarter. Tejara Capital Ltd now owns 698,770 shares of the biotechnology company’s stock worth $511,000 after purchasing an additional 11,552 shares during the last quarter. BNP Paribas Financial Markets grew its position in Coherus Oncology by 108.2% in the third 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 in the last quarter. Finally, Quarry LP acquired a new stake in Coherus Oncology in the 3rd quarter valued at $26,000. 72.82% of the stock is currently 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.