Coherus Oncology (NASDAQ:CHRS) Stock Price Crosses Above 200 Day Moving Average – Should You Sell?

Shares of Coherus Oncology, Inc. (NASDAQ:CHRS) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $1.38 and traded as high as $2.37. Coherus Oncology shares last traded at $2.16, with a volume of 1,924,115 shares trading hands.

Analyst Upgrades and Downgrades

CHRS has been the subject of several recent analyst reports. Oppenheimer began coverage on shares of Coherus Oncology in a report on Thursday, January 22nd. They issued an “outperform” rating and a $10.00 target price for the company. Wall Street Zen raised shares of Coherus Oncology from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Coherus Oncology in a report on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Coherus Oncology has an average rating of “Hold” and a consensus price target of $5.51.

Coherus Oncology Price Performance

The stock has a market capitalization of $261.08 million, a PE ratio of 1.62 and a beta of 0.96. The firm’s fifty day moving average price is $1.51 and its two-hundred day moving average price is $1.38. 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 issued its earnings results on Thursday, November 6th. The biotechnology company reported ($0.33) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.34) by $0.01. The company had revenue of $11.57 million during the quarter, compared to analysts’ expectations of $13.41 million. On average, equities analysts predict that Coherus Oncology, Inc. will post -1.05 earnings per share for the current year.

Institutional Investors Weigh In On Coherus Oncology

Several hedge funds and other institutional investors have recently made changes to their positions in CHRS. Panagora Asset Management Inc. bought a new stake in Coherus Oncology in the 2nd quarter valued at $581,000. UBS Group AG lifted its holdings in shares of Coherus Oncology by 38.5% in the 3rd quarter. UBS Group AG now owns 795,941 shares of the biotechnology company’s stock valued at $1,305,000 after acquiring an additional 221,410 shares during the last quarter. Acadian Asset Management LLC grew its position in Coherus Oncology by 52,980.1% in the first quarter. Acadian Asset Management LLC now owns 196,927 shares of the biotechnology company’s stock worth $158,000 after acquiring an additional 196,556 shares in the last quarter. Bridgeway Capital Management LLC boosted its holdings in shares of Coherus Oncology by 78.3% in the 3rd quarter. Bridgeway Capital Management LLC now owns 255,000 shares of the biotechnology company’s stock worth $418,000 after purchasing an additional 112,000 shares during the period. Finally, Jane Street Group LLC bought a new stake in Coherus Oncology in the second quarter worth $46,000. Hedge funds and other institutional investors own 72.82% of the company’s stock.

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.