Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP - Get Free Report) passed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $8.56 and traded as high as $9.59. Corbus Pharmaceuticals shares last traded at $9.13, with a volume of 104,200 shares traded.
Wall Street Analyst Weigh In
Several equities analysts have commented on the stock. Oppenheimer lowered their target price on shares of Corbus Pharmaceuticals from $56.00 to $53.00 and set an "outperform" rating on the stock in a research report on Wednesday, August 6th. Lifesci Capital raised shares of Corbus Pharmaceuticals to a "strong-buy" rating in a research report on Saturday, July 12th. B. Riley raised shares of Corbus Pharmaceuticals to a "strong-buy" rating and set a $28.00 target price on the stock in a research report on Wednesday, July 30th. Royal Bank Of Canada lowered their target price on shares of Corbus Pharmaceuticals from $65.00 to $58.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 7th. Finally, HC Wainwright lowered their target price on shares of Corbus Pharmaceuticals from $50.00 to $40.00 and set a "buy" rating on the stock in a research report on Wednesday, May 7th. One investment analyst has rated the stock with a Strong Buy rating and nine have issued a Buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $49.00.
View Our Latest Research Report on CRBP
Corbus Pharmaceuticals Stock Up 1.0%
The company has a market capitalization of $121.25 million, a price-to-earnings ratio of -2.08 and a beta of 3.20. The company has a 50-day moving average price of $8.61 and a 200-day moving average price of $7.63.
Corbus Pharmaceuticals (NASDAQ:CRBP - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The biopharmaceutical company reported ($1.44) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.55) by $0.11. Equities analysts expect that Corbus Pharmaceuticals Holdings, Inc. will post -4.23 EPS for the current fiscal year.
Institutional Investors Weigh In On Corbus Pharmaceuticals
Several hedge funds have recently made changes to their positions in CRBP. Geode Capital Management LLC lifted its stake in shares of Corbus Pharmaceuticals by 5.5% in the fourth quarter. Geode Capital Management LLC now owns 263,532 shares of the biopharmaceutical company's stock valued at $3,110,000 after buying an additional 13,773 shares during the period. Wells Fargo & Company MN lifted its stake in shares of Corbus Pharmaceuticals by 51.7% in the fourth quarter. Wells Fargo & Company MN now owns 6,444 shares of the biopharmaceutical company's stock valued at $76,000 after buying an additional 2,195 shares during the period. Renaissance Technologies LLC lifted its stake in shares of Corbus Pharmaceuticals by 769.4% in the fourth 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 period. Aquatic Capital Management LLC bought a new stake in shares of Corbus Pharmaceuticals in the fourth quarter valued at about $101,000. Finally, Northern Trust Corp lifted its stake in shares of Corbus Pharmaceuticals by 12.4% in the fourth quarter. Northern Trust Corp now owns 103,264 shares of the biopharmaceutical company's stock valued at $1,219,000 after buying an additional 11,400 shares during the period. Institutional investors own 64.64% of the company's stock.
Corbus Pharmaceuticals Company Profile
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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.
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