Corbus Pharmaceuticals (CRBP) Trading Up 12%
Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP)’s share price was up 12% during trading on Tuesday . The stock traded as high as $8.00 and last traded at $7.95. Approximately 2,032,666 shares changed hands during mid-day trading, an increase of 157% from the average daily volume of 789,433 shares. The stock had previously closed at $7.10.
Several equities analysts have commented on CRBP shares. Noble Financial increased their target price on Corbus Pharmaceuticals from $16.00 to $20.00 and gave the company a “buy” rating in a research report on Wednesday, November 8th. BidaskClub downgraded Corbus Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Wednesday, December 20th. ValuEngine downgraded Corbus Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Wednesday, September 13th. Finally, Cantor Fitzgerald reiterated a “buy” rating and issued a $24.00 target price on shares of Corbus Pharmaceuticals in a research report on Wednesday, September 20th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. Corbus Pharmaceuticals currently has an average rating of “Hold” and a consensus price target of $25.00.
The company has a market cap of $436.24, a PE ratio of -13.49 and a beta of 2.29.
Corbus Pharmaceuticals (NASDAQ:CRBP) last posted its earnings results on Wednesday, November 8th. The biopharmaceutical company reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.16) by $0.02. The firm had revenue of $0.80 million during the quarter. Corbus Pharmaceuticals had a negative return on equity of 96.02% and a negative net margin of 1,040.41%. equities research analysts anticipate that Corbus Pharmaceuticals Holdings, Inc. will post -0.6 EPS for the current year.
In related news, Director David P. Hochman acquired 5,000 shares of the stock in a transaction dated Monday, November 13th. The stock was bought at an average cost of $6.90 per share, for a total transaction of $34,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David P. Hochman acquired 10,000 shares of the stock in a transaction dated Friday, November 10th. The shares were bought at an average price of $7.08 per share, with a total value of $70,800.00. Following the completion of the transaction, the director now directly owns 459,500 shares of the company’s stock, valued at $3,253,260. The disclosure for this purchase can be found here. Insiders have bought 25,336 shares of company stock valued at $175,632 over the last 90 days. 11.90% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently modified their holdings of the company. GSA Capital Partners LLP raised its position in shares of Corbus Pharmaceuticals by 71.4% during the third quarter. GSA Capital Partners LLP now owns 100,800 shares of the biopharmaceutical company’s stock worth $721,000 after acquiring an additional 42,000 shares during the last quarter. Yellowstone Partners LLC bought a new position in shares of Corbus Pharmaceuticals during the third quarter worth about $110,000. Wells Fargo & Company MN grew its stake in Corbus Pharmaceuticals by 1,859.0% during the third quarter. Wells Fargo & Company MN now owns 52,893 shares of the biopharmaceutical company’s stock worth $379,000 after purchasing an additional 50,193 shares during the period. Cambridge Investment Research Advisors Inc. acquired a new stake in Corbus Pharmaceuticals during the third quarter worth approximately $190,000. Finally, Bank of New York Mellon Corp grew its stake in Corbus Pharmaceuticals by 9.7% during the third quarter. Bank of New York Mellon Corp now owns 150,135 shares of the biopharmaceutical company’s stock worth $1,073,000 after purchasing an additional 13,323 shares during the period. Institutional investors own 27.84% of the company’s stock.
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Corbus Pharmaceuticals 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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