Los Angeles Capital Management LLC Purchases 720,672 Shares of Coherus BioSciences, Inc. (NASDAQ:CHRS)

Los Angeles Capital Management LLC grew its position in shares of Coherus BioSciences, Inc. (NASDAQ:CHRS) by 344.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 930,132 shares of the biotechnology company’s stock after purchasing an additional 720,672 shares during the quarter. Los Angeles Capital Management LLC owned approximately 0.81% of Coherus BioSciences worth $967,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. CM Management LLC boosted its position in Coherus BioSciences by 10.0% during the 2nd quarter. CM Management LLC now owns 1,100,000 shares of the biotechnology company’s stock worth $1,903,000 after buying an additional 100,000 shares during the period. AQR Capital Management LLC bought a new stake in shares of Coherus BioSciences in the second quarter worth $1,246,000. Marshall Wace LLP increased its holdings in Coherus BioSciences by 177.3% in the second quarter. Marshall Wace LLP now owns 420,326 shares of the biotechnology company’s stock valued at $727,000 after purchasing an additional 268,763 shares during the period. Renaissance Technologies LLC raised its position in Coherus BioSciences by 159.2% during the 2nd quarter. Renaissance Technologies LLC now owns 394,828 shares of the biotechnology company’s stock worth $683,000 after purchasing an additional 242,500 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in Coherus BioSciences by 26.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 389,225 shares of the biotechnology company’s stock worth $673,000 after buying an additional 80,222 shares during the period. 72.82% of the stock is currently owned by institutional investors.

Coherus BioSciences Stock Down 3.7 %

Shares of CHRS stock opened at $0.74 on Friday. The firm has a 50 day moving average of $0.94 and a 200-day moving average of $1.41. The company has a market cap of $85.72 million, a price-to-earnings ratio of -9.30 and a beta of 0.69. Coherus BioSciences, Inc. has a 52 week low of $0.66 and a 52 week high of $3.70.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CHRS. Robert W. Baird lowered their price objective on Coherus BioSciences from $8.00 to $4.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. HC Wainwright restated a “buy” rating and issued a $12.00 price target on shares of Coherus BioSciences in a research report on Thursday, November 7th. StockNews.com cut shares of Coherus BioSciences from a “buy” rating to a “hold” rating in a research report on Saturday, October 19th. Finally, UBS Group lowered shares of Coherus BioSciences from a “buy” rating to a “neutral” rating and dropped their target price for the company from $4.00 to $1.50 in a report on Friday, August 16th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $6.13.

About Coherus BioSciences

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.