Here’s Why Aristotle Small Cap Equity Strategy Sold Coherus BioSciences (CHRS)

Aristotle Capital Boston, LLC, an investment advisor, released its “Small Cap Equity Strategy” fourth quarter 2023 investor letter. A copy of the same can be downloaded here. In the fourth quarter, the fund delivered a return of 11.02% net of fees (11.18% gross of fees), trailing the Russell 2000 Index’s 14.03% total return. Both security selection and allocation effects drove the underperformance of the strategy in the quarter. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.

Aristotle Small Cap Equity Strategy featured stocks such as Coherus BioSciences, Inc. (NASDAQ:CHRS) in the fourth quarter 2023 investor letter. Headquartered in Redwood City, California, Coherus BioSciences, Inc. (NASDAQ:CHRS) is a biopharmaceutical company. On January 11, 2024, Coherus BioSciences, Inc. (NASDAQ:CHRS) stock closed at $2.62 per share. One-month return of Coherus BioSciences, Inc. (NASDAQ:CHRS) was 13.91%, and its shares lost 75.10% of their value over the last 52 weeks. Coherus BioSciences, Inc. (NASDAQ:CHRS) has a market capitalization of $291.774 million.

Aristotle Small Cap Equity Strategy stated the following regarding Coherus BioSciences, Inc. (NASDAQ:CHRS) in its fourth quarter 2023 investor letter:

“Coherus BioSciences, Inc. (NASDAQ:CHRS), a commercial-stage biopharmaceutical company engaged in the development and commercialization of biosimilar and immune-oncology therapeutics for major regulated markets, was removed from the portfolio. Despite the company’s efforts to grow and diversify its revenue base through a series of upcoming product launches, a variety of factors contributed to our decision to step away from our investment including a shift in company focus, competitive pricing pressures, and a recent C-suite departure.”

A scientist in the lab, researching the development of biopharmaceutical monoclonal antibody drugs.

Coherus BioSciences, Inc. (NASDAQ:CHRS) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 22 hedge fund portfolios held Coherus BioSciences, Inc. (NASDAQ:CHRS) at the end of third quarter which was 18 in the previous quarter. In addition, please check out our hedge fund investor letters Q4 2023 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.