The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Coherus Biosciences Inc shares valued at $449,770 were sold by Lanfear Dennis M on Nov 22 ’23. At $2.02 per share, Lanfear Dennis M sold 223,100 shares. The insider’s holdings dropped to 731,693 shares worth approximately $0.56 million following the completion of this transaction.
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As published in a research note from UBS on August 16, 2024, Coherus Biosciences Inc [CHRS] has been rated down from a Buy to a Neutral and the price target has been revised to $1.50 from $4. Analysts at Robert W. Baird started covering the stock with ‘”an Outperform”‘ outlook in a report released in mid November. As of November 08, 2023, Maxim Group has decreased its “Buy” rating to a “Hold” for CHRS. Earlier on July 24, 2023, Citigroup initiated its rating. Their recommendation was “a Buy” for CHRS stock.
Analyzing CHRS Stock Performance
During the last five days, there has been a drop of approximately -5.78%. Over the course of the year, Coherus Biosciences Inc shares have dropped approximately -76.80%. Shares of the company reached a 52-week high of $3.7000 on 01/02/24 and a 52-week low of $0.6603 on 11/05/24. A 50-day SMA is recorded $0.9537, while a 200-day SMA reached $1.6929. Nevertheless, trading volume fell to 2.43 million shares from 3.56 million shares the previous day.
Support And Resistance Levels for Coherus Biosciences Inc (CHRS)
According to the 24-hour chart, there is a support level at 0.7521, which, if violated, would cause prices to drop to 0.7316. In the upper region, resistance lies at 0.8115. The next price resistance is at 0.8504. RSI (Relative Strength Index) is 42.39 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.0347, which suggests the price will decrease in the coming days. Percent R is at 61.89%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
