Coherus Oncology Sees Unusually Large Options Volume (NASDAQ:CHRS)

Coherus Oncology, Inc. (NASDAQ:CHRS) saw unusually large options trading activity on Friday. Stock traders bought 2,341 call options on the company. This is an increase of 420% compared to the average daily volume of 450 call options.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Quarry LP bought a new position in Coherus Oncology during the third quarter worth about $26,000. Voya Investment Management LLC bought a new position in Coherus Oncology during the third quarter worth about $28,000. International Assets Investment Management LLC acquired a new position in Coherus Oncology in the second quarter valued at about $33,000. Corient Private Wealth LLC raised its holdings in Coherus Oncology by 20.0% during the 2nd quarter. Corient Private Wealth LLC now owns 60,000 shares of the biotechnology company’s stock worth $44,000 after buying an additional 10,000 shares during the period. Finally, BNP Paribas Financial Markets lifted its stake in Coherus Oncology by 108.2% in the third quarter. BNP Paribas Financial Markets now owns 26,620 shares of the biotechnology company’s stock valued at $44,000 after buying an additional 13,832 shares in the last quarter. 72.82% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on CHRS. Oppenheimer initiated coverage on shares of Coherus Oncology in a research report on Thursday. They issued an “outperform” rating and a $10.00 price target for the company. Weiss Ratings reissued a “sell (d)” rating on shares of Coherus Oncology in a report on Wednesday, October 8th. Finally, Wall Street Zen raised Coherus Oncology from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $5.51.

Coherus Oncology Trading Up 27.4%

CHRS traded up $0.44 during mid-day trading on Friday, reaching $2.03. The stock had a trading volume of 9,294,082 shares, compared to its average volume of 1,942,320. The stock has a market capitalization of $244.76 million, a P/E ratio of 1.52 and a beta of 0.96. Coherus Oncology has a 52 week low of $0.71 and a 52 week high of $2.17. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.23 and a current ratio of 1.24. The firm’s fifty day simple moving average is $1.38 and its two-hundred day simple moving average is $1.32.

Coherus Oncology (NASDAQ:CHRS) last issued its quarterly earnings results on Thursday, November 6th. The biotechnology company reported ($0.33) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.34) by $0.01. The firm had revenue of $11.57 million for the quarter, compared to analyst estimates of $13.41 million. On average, equities analysts predict that Coherus Oncology will post -1.05 EPS for the current year.

About Coherus Oncology

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.