Corbus Pharmaceuticals (NASDAQ:CRBP) Share Price Passes Above 50 Day Moving Average - Here's Why

Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP - Get Free Report) crossed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $7.98 and traded as high as $8.94. Corbus Pharmaceuticals shares last traded at $8.70, with a volume of 123,781 shares traded.

Wall Street Analyst Weigh In

Several research analysts have recently commented on CRBP shares. Lifesci Capital raised Corbus Pharmaceuticals to a "strong-buy" rating in a report on Saturday, July 12th. Royal Bank Of Canada cut their price objective on Corbus Pharmaceuticals from $65.00 to $58.00 and set an "outperform" rating for the company in a report on Wednesday, May 7th. HC Wainwright cut their price objective on Corbus Pharmaceuticals from $50.00 to $40.00 and set a "buy" rating for the company in a report on Wednesday, May 7th. B. Riley reissued a "buy" rating on shares of Corbus Pharmaceuticals in a report on Wednesday, May 7th. Finally, Oppenheimer cut their price objective on Corbus Pharmaceuticals from $60.00 to $56.00 and set an "outperform" rating for the company in a report on Wednesday, May 7th. One analyst has rated the stock with a sell rating, nine have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Corbus Pharmaceuticals has a consensus rating of "Moderate Buy" and an average target price of $50.88.

Corbus Pharmaceuticals Stock Up 2.8%

The business's 50-day simple moving average is $8.14 and its 200 day simple moving average is $7.91. The firm has a market capitalization of $113.34 million, a P/E ratio of -2.19 and a beta of 3.05.

Corbus Pharmaceuticals (NASDAQ:CRBP - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The biopharmaceutical company reported ($1.39) EPS for the quarter, missing analysts' consensus estimates of ($1.26) by ($0.13). Sell-side analysts predict that Corbus Pharmaceuticals Holdings, Inc. will post -4.23 earnings per share for the current year.

Institutional Investors Weigh In On Corbus Pharmaceuticals

Several institutional investors have recently bought and sold shares of CRBP. Charles Schwab Investment Management Inc. boosted its holdings in Corbus Pharmaceuticals by 4.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 97,882 shares of the biopharmaceutical company's stock valued at $1,155,000 after acquiring an additional 4,239 shares during the period. Geode Capital Management LLC boosted 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 valued at $3,110,000 after acquiring an additional 13,773 shares during the period. Wells Fargo & Company MN boosted 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 valued at $76,000 after acquiring an additional 2,195 shares during the period. Renaissance Technologies LLC boosted its holdings in Corbus Pharmaceuticals by 769.4% during the 4th quarter. Renaissance Technologies LLC now owns 139,100 shares of the biopharmaceutical company's stock valued at $1,641,000 after acquiring an additional 123,100 shares during the period. Finally, Walleye Capital LLC boosted its holdings in Corbus Pharmaceuticals by 49.4% during the 4th quarter. Walleye Capital LLC now owns 55,236 shares of the biopharmaceutical company's stock valued at $652,000 after acquiring an additional 18,273 shares during the period. 64.64% of the stock is currently owned by hedge funds and other 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.