Coherus Biosciences Inc (NASDAQ: CHRS) stock fell -2.82% on Monday to $2.07 against a previous-day closing price of $2.13. With 4.28 million shares changed hands, the volume of the stock remained heavier than its average volume of 4.19 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $2.2950 whereas the lowest price it dropped to was $2.0500. The 52-week range on CHRS shows that it touched its highest point at $10.99 and its lowest point at $1.43 during that stretch. It currently has a 1-year price target of $10.62. Beta for the stock currently stands at 0.71.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of CHRS was up-trending over the past week, with a rise of 20.35%, but this was down by -41.53% over a month. Three-month performance dropped to -55.39% while six-month performance fell -53.59%. The stock lost -69.15% in the past year, while it has lost -73.86% so far this year. A look at the trailing 12-month EPS for CHRS yields -2.61 with Next year EPS estimates of -0.56. For the next quarter, that number is -0.32. This implies an EPS growth rate of 43.99% for this year and 73.26% for next year.
Float and Shares Shorts:
At present, 111.36 million CHRS shares are outstanding with a float of 106.18 million shares on hand for trading. On Oct 30, 2023, short shares totaled 19.84 million, which was 17.81% higher than short shares on Sep 28, 2023. In addition to Mr. Dennis M. Lanfear as the firm’s Chairman, President & CEO, Mr. McDavid Stilwell serves as its Chief Financial Officer.
Through their ownership of 92.78% of CHRS’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 45.14% of CHRS, in contrast to 42.05% held by mutual funds. Shares owned by individuals account for 19.91%. As the largest shareholder in CHRS with 8.65% of the stake, The Vanguard Group, Inc. holds 9,550,578 shares worth 9,550,578. A second-largest stockholder of CHRS, SSgA Funds Management, Inc., holds 8,790,927 shares, controlling over 7.96% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in CHRS, holding 8,680,759 shares or 7.86% stake. With a 6.87% stake in CHRS, the SPDR S&P Biotech ETF is the largest stakeholder. A total of 7,594,008 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 2.96% of CHRS stock, is the second-largest Mutual Fund holder. It holds 3,264,178 shares valued at 10.93 million. JPMorgan Small Cap Growth Fund holds 2.17% of the stake in CHRS, owning 2,391,579 shares worth 8.01 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for CHRS since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With CHRS analysts setting a high price target of $15.00 and a low target of $4.00, the average target price over the next 12 months is $10.63. Based on these targets, CHRS could surge 624.64% to reach the target high and rise by 93.24% to reach the target low. Reaching the average price target will result in a growth of 413.53% from current levels.
Summary of Insider Activity:
Insiders traded CHRS stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 4 while that of sell transactions has risen to 10 over the past year. The total number of shares bought during that period was 178,750 while 56,868 shares were sold.