Corbus Pharmaceuticals (NASDAQ:CRBP) Shares Cross Above 50-Day Moving Average - Time to Sell?

Key Points

• Corbus Pharmaceuticals' share price has crossed above its 50-day moving average of $9.85, with the stock trading as high as $12.70 recently.
• The company has experienced a significant 342% year-to-date surge in its stock price, attracting positive ratings from analysts, including a "strong-buy" from Lifesci Capital.
• Corbus Pharmaceuticals reported a quarterly earnings per share of ($1.44), exceeding analysts' estimates, and has an average analyst rating of "Buy" with a consensus target price of $45.43.

Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP - Get Free Report)'s share price crossed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $9.85 and traded as high as $12.70. Corbus Pharmaceuticals shares last traded at $12.26, with a volume of 142,076 shares traded.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Lifesci Capital raised shares of Corbus Pharmaceuticals to a "strong-buy" rating in a research report on Saturday, July 12th. HC Wainwright reaffirmed a "buy" rating and set a $40.00 price objective on shares of Corbus Pharmaceuticals in a research report on Wednesday, September 17th. Oppenheimer cut their price target on shares of Corbus Pharmaceuticals from $56.00 to $53.00 and set an "outperform" rating on the stock in a research note on Wednesday, August 6th. Finally, B. Riley upgraded shares of Corbus Pharmaceuticals to a "strong-buy" rating and set a $28.00 price target on the stock in a research note on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating and eight have assigned a Buy rating to the company's stock. Based on data from MarketBeat.com, Corbus Pharmaceuticals presently has an average rating of "Buy" and a consensus target price of $45.43.

Corbus Pharmaceuticals Stock Up 1.2%

The firm's fifty day simple moving average is $9.85 and its 200-day simple moving average is $8.12. The company has a market cap of $150.31 million, a PE ratio of -2.58 and a beta of 3.08.

Corbus Pharmaceuticals (NASDAQ:CRBP - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The biopharmaceutical company reported ($1.44) earnings per share for the quarter, beating analysts' consensus estimates of ($1.55) by $0.11. On average, analysts predict that Corbus Pharmaceuticals Holdings, Inc. will post -4.23 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Bank of America Corp DE increased its stake in Corbus Pharmaceuticals by 29.7% during the 4th quarter. Bank of America Corp DE now owns 31,475 shares of the biopharmaceutical company's stock valued at $371,000 after buying an additional 7,207 shares during the period. Deutsche Bank AG raised its position in Corbus Pharmaceuticals by 46.8% during the fourth quarter. Deutsche Bank AG now owns 8,206 shares of the biopharmaceutical company's stock valued at $97,000 after acquiring an additional 2,616 shares in the last quarter. Two Sigma Investments LP raised its position in Corbus Pharmaceuticals by 212.3% during the fourth quarter. Two Sigma Investments LP now owns 134,175 shares of the biopharmaceutical company's stock valued at $1,583,000 after acquiring an additional 91,205 shares in the last quarter. Two Sigma Advisers LP bought a new position in Corbus Pharmaceuticals during the fourth quarter valued at approximately $130,000. Finally, Nuveen LLC bought a new position in shares of Corbus Pharmaceuticals in the first quarter valued at approximately $243,000. 64.64% of the stock is currently owned by institutional investors.

Corbus Pharmaceuticals Company Profile

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.

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