The Vanguard Group, Inc. recently announced the acquisition of new stake in Coherus Biosciences Inc (NASDAQ:CHRS). The institutional investor has increased its shareholding in the Healthcare company by 4.89% to 9.55 million shares with purchase of 0.44 million shares. This fresh investment now brings its stake to 8.58% valued currently at $31.8 million. In addition, SSgA Funds Management, Inc. raised its holdings by 6.21 million to 8.79 million shares. And Morgan Stanley & Co. LLC has lifted its position by 8.49% or 0.24 million shares – to 3.11 million shares.
Currently, there are 111.36M common shares owned by the public and among those 106.18M shares have been available to trade.
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Insiders at the company have transacted a total of 3 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 0 of these insider trades were purchases, accounting for 0 shares. Insider sales of the common stock occurred on 3 occasions, with total insider shares sold totaling 22,186 shares.
The top 3 mutual fund holders in Coherus Biosciences Inc are Vanguard Total Stock Market ETF, iShares Russell 2000 ETF, and C Worldwide – Healthcare Select. Vanguard Total Stock Market ETF owns 3.26 million shares of the company’s stock, all valued at over $10.87 million. iShares Russell 2000 ETF sold 7290.0 shares to see its total holdings shrink to 2.75 million shares valued at over $9.17 million and representing 2.47% of the shares outstanding. C Worldwide – Healthcare Select bought 1.0 million shares to bring its total holdings to over 1.93 million shares at a value of $6.42 million. C Worldwide – Healthcare Select now owns shares totaling to 1.73% of the shares outstanding.
However, the script later moved the day high at 2.9700, up 5.74%. The company’s stock has a 5-day price change of 0.39% and -27.32% over the past three months. CHRS shares are trading -22.52% year to date (YTD), with the 12-month market performance down to -70.48% lower. It has a 12-month low price of $1.43 and touched a high of $9.39 over the same period. CHRS has an average intraday trading volume of 6.99 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -2.88%, 11.88%, and -39.56% respectively.
Institutional ownership of Coherus Biosciences Inc (NASDAQ: CHRS) shares accounts for 86.26% of the company’s 111.36M shares outstanding. Mutual fund holders own 29.72%, while other institutional holders and individual stakeholders account for 56.62% and 19.79% respectively.
It has a market capitalization of $287.31M and a beta (3y monthly) value of 0.53. The earnings-per-share (ttm) stands at -$2.61. Price movements for the stock have been influenced by the stock’s volatility, which stands at 11.14% over the week and 11.59% over the month.
Analysts forecast that Coherus Biosciences Inc (CHRS) will achieve an EPS of -$0.16 for the current quarter, -$0.2 for the next quarter and -$0.12 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.4 while analysts give the company a high EPS estimate of $0.52. Comparatively, EPS for the current quarter was -$0.6 a year ago. Earnings per share for the fiscal year are expected to increase by 45.97%, and 83.86% over the next financial year.
Looking at the support for the CHRS, a number of firms have released research notes about the stock. Robert W. Baird stated their Outperform rating for the stock in a research note on November 17, 2023, with the firm’s price target at $11.
