Corbus Pharmaceuticals Holdings, Inc. (CRBP) Trading Down 0.7%
Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) fell 0.7% on Friday . The stock traded as low as $6.91 and last traded at $6.95. 185,260 shares were traded during mid-day trading, a decline of 69% from the average session volume of 592,059 shares. The stock had previously closed at $7.00.
Several research firms have weighed in on CRBP. Noble Financial reiterated a “buy” rating on shares of Corbus Pharmaceuticals Holdings in a report on Wednesday, August 9th. BidaskClub cut Corbus Pharmaceuticals Holdings from a “sell” rating to a “strong sell” rating in a report on Saturday, August 5th. Finally, Cantor Fitzgerald set a $24.00 price objective on Corbus Pharmaceuticals Holdings and gave the stock a “buy” rating in a report on Wednesday, August 9th. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $20.50.
The firm’s market capitalization is $338.99 million. The firm has a 50 day moving average of $6.38 and a 200-day moving average of $7.03.
Corbus Pharmaceuticals Holdings (NASDAQ:CRBP) last released its earnings results on Wednesday, August 9th. The biopharmaceutical company reported ($0.15) EPS for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.04. The firm had revenue of $0.35 million for the quarter, compared to analysts’ expectations of $0.50 million. Corbus Pharmaceuticals Holdings had a negative return on equity of 107.10% and a negative net margin of 1,001.77%. On average, equities analysts forecast that Corbus Pharmaceuticals Holdings, Inc. will post ($0.66) earnings per share for the current year.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Evanson Asset Management LLC grew its stake in shares of Corbus Pharmaceuticals Holdings by 1.5% during the second quarter. Evanson Asset Management LLC now owns 20,660 shares of the biopharmaceutical company’s stock valued at $130,000 after buying an additional 300 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Corbus Pharmaceuticals Holdings by 7.7% during the first quarter. Bank of New York Mellon Corp now owns 21,102 shares of the biopharmaceutical company’s stock valued at $174,000 after buying an additional 1,511 shares during the last quarter. Creative Planning grew its stake in shares of Corbus Pharmaceuticals Holdings by 3.9% during the second quarter. Creative Planning now owns 173,475 shares of the biopharmaceutical company’s stock valued at $1,093,000 after buying an additional 6,525 shares during the last quarter. IPG Investment Advisors LLC bought a new position in shares of Corbus Pharmaceuticals Holdings during the first quarter valued at approximately $109,000. Finally, Quantbot Technologies LP bought a new position in shares of Corbus Pharmaceuticals Holdings during the first quarter valued at approximately $114,000. 31.78% of the stock is currently owned by hedge funds and other institutional investors.
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Corbus Pharmaceuticals Holdings Company Profile
Corbus Pharmaceuticals Holdings, Inc is a clinical-stage pharmaceutical company. The Company is focused on the development and commercialization of therapeutics to treat rare, chronic and serious inflammatory and fibrotic diseases. The Company operates through developing and commercializing therapeutics to treat rare life-threatening inflammatory fibrotic diseases segment.
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