Insider Selling: Coherus Biosciences Inc (NASDAQ:CHRS) CFO Sells 3,159 Shares of Stock

Coherus Biosciences Inc (NASDAQ:CHRS) CFO Jean-Frederic Viret sold 3,159 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $20.44, for a total transaction of $64,569.96. Following the completion of the sale, the chief financial officer now owns 11,672 shares of the company’s stock, valued at approximately $238,575.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Jean-Frederic Viret also recently made the following trade(s):

  • On Wednesday, August 21st, Jean-Frederic Viret sold 6,318 shares of Coherus Biosciences stock. The shares were sold at an average price of $21.71, for a total transaction of $137,163.78.
  • On Monday, August 19th, Jean-Frederic Viret sold 3,000 shares of Coherus Biosciences stock. The shares were sold at an average price of $19.04, for a total transaction of $57,120.00.

Shares of CHRS stock traded up $1.17 during midday trading on Friday, reaching $21.74. 1,925,500 shares of the company traded hands, compared to its average volume of 925,350. The firm’s 50 day simple moving average is $20.30 and its two-hundred day simple moving average is $17.98. Coherus Biosciences Inc has a 1-year low of $8.32 and a 1-year high of $23.43. The firm has a market cap of $1.43 billion, a PE ratio of -6.75 and a beta of 2.96.

Coherus Biosciences (NASDAQ:CHRS) last posted its quarterly earnings results on Thursday, August 1st. The biotechnology company reported $0.32 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.08) by $0.40. The company had revenue of $83.43 million for the quarter, compared to analyst estimates of $81.05 million. As a group, equities research analysts expect that Coherus Biosciences Inc will post 0.89 EPS for the current year.

CHRS has been the subject of a number of research reports. Robert W. Baird set a $28.00 price target on shares of Coherus Biosciences and gave the company a “buy” rating in a research report on Wednesday, June 19th. ValuEngine downgraded shares of Coherus Biosciences from a “buy” rating to a “hold” rating in a research report on Wednesday, September 4th. BidaskClub downgraded shares of Coherus Biosciences from a “buy” rating to a “hold” rating in a research report on Friday, September 6th. HC Wainwright reiterated a “buy” rating and set a $29.00 price target (up from $28.00) on shares of Coherus Biosciences in a research report on Friday, August 2nd. Finally, Maxim Group reiterated a “buy” rating and set a $27.00 price target (up from $25.00) on shares of Coherus Biosciences in a research report on Friday, August 2nd. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $31.38.

Institutional investors and hedge funds have recently modified their holdings of the company. Jacobs Levy Equity Management Inc. increased its stake in shares of Coherus Biosciences by 45.5% during the 2nd quarter. Jacobs Levy Equity Management Inc. now owns 137,591 shares of the biotechnology company’s stock worth $3,041,000 after purchasing an additional 43,005 shares in the last quarter. DekaBank Deutsche Girozentrale increased its stake in shares of Coherus Biosciences by 300.9% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 85,400 shares of the biotechnology company’s stock worth $1,835,000 after purchasing an additional 64,100 shares in the last quarter. Calamos Advisors LLC purchased a new position in shares of Coherus Biosciences during the 2nd quarter worth approximately $972,000. Atika Capital Management LLC increased its stake in shares of Coherus Biosciences by 11.7% during the 2nd quarter. Atika Capital Management LLC now owns 210,000 shares of the biotechnology company’s stock worth $4,641,000 after purchasing an additional 22,000 shares in the last quarter. Finally, Xact Kapitalforvaltning AB purchased a new position in shares of Coherus Biosciences during the 2nd quarter worth approximately $225,000. 95.19% of the stock is owned by institutional investors and hedge funds.

About Coherus Biosciences

Coherus BioSciences, Inc, a commercial-stage biotherapeutics company, focuses on the biosimilar market worldwide. It markets UDENYCA, a long-acting granulocyte-colony stimulating factor, which stimulates production of granulocytes in order to promote the body's ability to fight infections. The company sells UDENYCA in the United States.

See Also: What are the benefits of a balanced fund?

Insider Buying and Selling by Quarter for Coherus Biosciences (NASDAQ:CHRS)

Receive News & Ratings for Coherus Biosciences Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Coherus Biosciences and related companies with MarketBeat.com's FREE daily email newsletter.