Coherus Oncology (NASDAQ:CHRS) Stock Passes Above 200 Day Moving Average – Here’s Why

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

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CHRS. Oppenheimer initiated coverage on Coherus Oncology in a research note on Thursday, January 22nd. They issued 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 given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $5.51.

Coherus Oncology Trading Down 0.6%

The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.23 and a current ratio of 1.24. The firm has a market cap of $242.14 million, a P/E ratio of 1.22 and a beta of 0.99. The firm has a 50 day simple moving average of $1.70 and a 200 day simple moving average of $1.50.

Hedge Funds Weigh In On Coherus Oncology

Several hedge funds have recently bought and sold shares of CHRS. Acadian Asset Management LLC lifted its stake in Coherus Oncology by 52,980.1% in the 1st 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 in the last quarter. Geode Capital Management LLC increased its holdings in shares of Coherus Oncology by 0.8% in the second quarter. Geode Capital Management LLC now owns 2,676,476 shares of the biotechnology company’s stock worth $1,958,000 after purchasing an additional 20,976 shares during the period. XTX Topco Ltd raised its position in shares of Coherus Oncology by 65.3% in the second quarter. XTX Topco Ltd now owns 91,739 shares of the biotechnology company’s stock worth $67,000 after buying an additional 36,257 shares in the last quarter. Tejara Capital Ltd boosted its stake in Coherus Oncology by 1.7% during 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. Finally, Panagora Asset Management Inc. bought a new stake in Coherus Oncology during the second quarter valued at $581,000. Hedge funds and other institutional investors own 72.82% of the company’s stock.

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.