Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP - Get Free Report)'s stock price passed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $7.76 and traded as high as $7.90. Corbus Pharmaceuticals shares last traded at $7.61, with a volume of 77,721 shares trading hands.
Analyst Ratings Changes
Several brokerages have commented on CRBP. Wall Street Zen upgraded shares of Corbus Pharmaceuticals to a "sell" rating in a research report on Thursday, March 6th. Royal Bank Of Canada decreased their price target on Corbus Pharmaceuticals from $65.00 to $58.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 7th. Wedbush restated an "outperform" rating and set a $51.00 price objective on shares of Corbus Pharmaceuticals in a research report on Wednesday, March 12th. Jefferies Financial Group reduced their price objective on Corbus Pharmaceuticals from $70.00 to $53.00 and set a "buy" rating on the stock in a research note on Tuesday, March 11th. Finally, B. Riley reiterated a "buy" rating on shares of Corbus Pharmaceuticals in a research report on Wednesday, May 7th. One research analyst has rated the stock with a sell rating, nine have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $50.88.
Check Out Our Latest Analysis on Corbus Pharmaceuticals
Corbus Pharmaceuticals Price Performance
The firm has a 50-day simple moving average of $7.76 and a 200 day simple moving average of $8.44. The stock has a market capitalization of $93.12 million, a P/E ratio of -1.80 and a beta of 3.05.
Corbus Pharmaceuticals (NASDAQ:CRBP - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The biopharmaceutical company reported ($1.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.26) by ($0.13). Sell-side analysts anticipate that Corbus Pharmaceuticals Holdings, Inc. will post -4.23 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Corbus Pharmaceuticals
Large investors have recently modified their holdings of the business. Charles Schwab Investment Management Inc. grew its stake in shares of Corbus Pharmaceuticals by 4.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 97,882 shares of the biopharmaceutical company's stock worth $1,155,000 after purchasing an additional 4,239 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Corbus Pharmaceuticals by 5.5% during the 4th quarter. Geode Capital Management LLC now owns 263,532 shares of the biopharmaceutical company's stock worth $3,110,000 after buying an additional 13,773 shares during the period. Wells Fargo & Company MN lifted its holdings in Corbus Pharmaceuticals by 51.7% during the 4th quarter. Wells Fargo & Company MN now owns 6,444 shares of the biopharmaceutical company's stock worth $76,000 after buying an additional 2,195 shares during the period. Renaissance Technologies LLC grew its position in shares of Corbus Pharmaceuticals by 769.4% in the 4th quarter. Renaissance Technologies LLC now owns 139,100 shares of the biopharmaceutical company's stock valued at $1,641,000 after buying an additional 123,100 shares during the last quarter. Finally, Walleye Capital LLC increased its stake in shares of Corbus Pharmaceuticals by 49.4% in the fourth quarter. Walleye Capital LLC now owns 55,236 shares of the biopharmaceutical company's stock valued at $652,000 after buying an additional 18,273 shares during the period. Institutional investors own 64.64% of the company's stock.
About Corbus Pharmaceuticals
(
Get Free Report)
Corbus Pharmaceuticals Holdings, Inc, a biopharmaceutical company, develops products to defeat serious illness. It develops CRB-701, an antibody drug conjugate (ADC) that targets the expression of Nectin-4 on cancer cells to release a cytotoxic payload of monomethyl auristatin E (MMAE), which is in Phase I clinical trial; CRB-601, an anti-integrin monoclonal antibody that blocks the activation of TGFß expressed on cancer cells for the treatment of solid tumors; CRB-913, a peripherally restricted cannabinoid type-1 (CB1) receptor inverse agonist for the treatment of obesity.
Further Reading
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