Coherus Oncology (NASDAQ:CHRS) Share Price Crosses Above 200 Day Moving Average – Here’s Why

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 $1.07 and traded as high as $1.72. Coherus Oncology shares last traded at $1.67, with a volume of 451,430 shares changing hands.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Weiss Ratings restated a “sell (d)” rating on shares of Coherus Oncology in a report on Wednesday, October 8th. Maxim Group upgraded shares of Coherus Oncology from a “hold” rating to a “buy” rating and set a $4.00 price objective for the company in a report on Thursday, September 4th. 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 company. According to data from MarketBeat, Coherus Oncology presently has an average rating of “Hold” and a consensus price target of $4.51.

Coherus Oncology Stock Performance

The stock’s 50-day moving average price is $1.45 and its 200 day moving average price is $1.07. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.44 and a quick ratio of 1.43. The firm has a market cap of $194.10 million, a P/E ratio of 1.08 and a beta of 0.97.

Institutional Trading of Coherus Oncology

A number of institutional investors have recently made changes to their positions in CHRS. Voya Investment Management LLC bought a new stake in Coherus Oncology during the third quarter worth $28,000. Corient Private Wealth LLC raised its position in 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 acquiring an additional 10,000 shares in the last quarter. Jane Street Group LLC bought a new stake in Coherus Oncology during the second quarter worth $46,000. Invesco Ltd. raised its position in Coherus Oncology by 11.5% during the second quarter. Invesco Ltd. now owns 208,271 shares of the biotechnology company’s stock worth $152,000 after acquiring an additional 21,550 shares in the last quarter. Finally, Panagora Asset Management Inc. bought a new stake in Coherus Oncology during the second quarter worth $581,000. Institutional investors own 72.82% of the company’s stock.

Coherus Oncology Company Profile

Coherus BioSciences, Inc, a biopharmaceutical company, focuses on the research, development, and commercialization of cancer treatments primarily in the United States. The company develops UDENYCA, a biosimilar to Neulasta, a long-acting granulocyte-colony stimulating factor; LOQTORZI, a novel PD-1 inhibitor; and Casdozokitug, an investigational recombinant human immunoglobulin isotype G1 (IgG1) monoclonal antibody targeting interleukin 27.