Newest Short Interest Filing: Is Buying Coherus Biosciences Incorporated (NASDAQ:CHRS), Having Lower Short Interest a Winning Strategy?

November 29, 2016 - By Marguerite Chambers   ·   0 Comments

Newest Short Interest Filing: Is Buying Coherus Biosciences Incorporated (NASDAQ:CHRS), Having Lower Short Interest a Winning Strategy?

The stock of Coherus Biosciences Incorporated (NASDAQ:CHRS) registered a decrease of 7.51% in short interest. CHRS’s total short interest was 4.28 million shares in November as published by FINRA. Its down 7.51% from 4.63 million shares, reported previously. With 370,700 shares average volume, it will take short sellers 12 days to cover their CHRS’s short positions. The short interest to Coherus Biosciences Incorporated’s float is 15.53%. About 56,620 shares traded hands. Coherus Biosciences Inc (NASDAQ:CHRS) has risen 35.87% since April 26, 2016 and is uptrending. It has outperformed by 30.62% the S&P500.

Coherus BioSciences, Inc. is a late-stage clinical biologics platform company. The company has a market cap of $1.22 billion. The Firm is focused on the global biosimilar market. It currently has negative earnings. The Firm operates through developing and commercializing biosimilar products segment.

Insitutional Activity: The institutional sentiment decreased to 2.52 in Q2 2016. Its down 0.80, from 3.32 in 2016Q1. The ratio dropped, as 10 funds sold all Coherus Biosciences Inc shares owned while 9 reduced positions. 22 funds bought stakes while 41 increased positions. They now own 49.39 million shares or 180.37% more from 17.62 million shares in 2016Q1.
Jennison Assocs Limited Liability has invested 0% of its portfolio in Coherus Biosciences Inc (NASDAQ:CHRS). Renaissance Limited Company has 0% invested in the company for 94,500 shares. American Grp Inc accumulated 0% or 16,977 shares. Lord Abbett Co Lc has 268,573 shares for 0.01% of their US portfolio. Millennium Limited Liability holds 0.02% or 400,940 shares in its portfolio. Moreover, Springbok Cap Mngmt Lc has 0.01% invested in Coherus Biosciences Inc (NASDAQ:CHRS) for 2,900 shares. Strs Ohio accumulated 600 shares or 0% of the stock. Moreover, Citadel Advisors Ltd Liability Corp has 0.01% invested in Coherus Biosciences Inc (NASDAQ:CHRS) for 675,732 shares. Spark Investment Limited Com accumulated 185,400 shares or 0.29% of the stock. Oxford Asset Mgmt last reported 43,157 shares in the company. Northern has invested 0% of its portfolio in Coherus Biosciences Inc (NASDAQ:CHRS). Moreover, Wellington Mngmt Grp Llp has 0.01% invested in Coherus Biosciences Inc (NASDAQ:CHRS) for 2.14 million shares. Great West Life Assurance Can last reported 3,400 shares in the company. New York State Common Retirement Fund has 0% invested in the company for 30,200 shares. Brown Advisory Incorporated holds 0.02% or 297,750 shares in its portfolio.

Coherus Biosciences Inc (NASDAQ:CHRS) Ratings Coverage

Out of 7 analysts covering Coherus Biosciences (NASDAQ:CHRS), 6 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 86% are positive. Coherus Biosciences has been the topic of 7 analyst reports since September 3, 2015 according to StockzIntelligence Inc. The stock has “Outperform” rating given by Credit Suisse on Wednesday, January 20. Citigroup initiated the stock with “Buy” rating in Wednesday, July 27 report. The rating was upgraded by Zacks to “Hold” on Thursday, September 3. The company was initiated on Monday, November 23 by Barclays Capital. Robert W. Baird initiated it with “Outperform” rating and $40 target price in Wednesday, October 19 report. Maxim Group initiated the shares of CHRS in a report on Wednesday, September 7 with “Buy” rating.

CHRS Company Profile

Coherus BioSciences, Inc., incorporated on September 29, 2010, is a late-stage clinical biologics platform company. The Firm is focused on the global biosimilar market. The Firm operates through developing and commercializing biosimilar products segment. The Company’s business is organized around therapeutic franchises, including Oncology biosimilar candidates pegfilgrastim (Neulasta), in late clinical-stage, and bevacizumab (Avastin), in preclinical-stage; Immunology (Anti-TNF) biosimilar candidates, etanercept (Enbrel) and adalimumab (Humira), which are both in late clinical-stage; Ophthalmology biosimilar candidate ranibizumab (Lucentis) in preclinical stage, and Multiple sclerosis small molecule therapeutic candidate, CHS-131 (formerly INT-131), in Phase II proof-of-concept trial.

More recent Coherus Biosciences Inc (NASDAQ:CHRS) news were published by: Fool.com which released: “Why Coherus BioSciences, Inc. Is Dropping Today” on November 07, 2016. Also Fool.com published the news titled: “Why Coherus BioSciences Plunged 37% in January” on February 12, 2016. Benzinga.com‘s news article titled: “Coherus Biosciences Could Be First-To-Market With A Neulasta Biosimilar” with publication date: October 03, 2016 was also an interesting one.

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By Marguerite Chambers

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