Corbus Pharmaceuticals (NASDAQ:CRBP) Shares Down 5.2%

Corbus Pharmaceuticals Holdings Inc (NASDAQ:CRBP)’s stock price fell 5.2% during trading on Wednesday . The stock traded as low as $5.72 and last traded at $5.78, 550,485 shares traded hands during trading. A decline of 54% from the average session volume of 1,189,567 shares. The stock had previously closed at $6.10.

Several research firms have commented on CRBP. BidaskClub upgraded Corbus Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Wednesday. HC Wainwright set a $24.00 price objective on Corbus Pharmaceuticals and gave the stock a “buy” rating in a research note on Monday, June 24th. Zacks Investment Research upgraded Corbus Pharmaceuticals from a “hold” rating to a “strong-buy” rating and set a $7.00 price objective for the company in a research note on Tuesday. ValuEngine lowered Corbus Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 2nd. Finally, Royal Bank of Canada reiterated a “buy” rating and set a $23.00 price objective on shares of Corbus Pharmaceuticals in a research note on Sunday. One equities research analyst has rated the stock with a sell rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $23.50.

The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 0.17. The company’s 50-day moving average is $6.30. The company has a market cap of $393.18 million, a price-to-earnings ratio of -5.90 and a beta of 1.84.

Corbus Pharmaceuticals (NASDAQ:CRBP) last posted its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.25. The business had revenue of $29.10 million during the quarter, compared to analyst estimates of $10.32 million. Corbus Pharmaceuticals had a negative return on equity of 149.05% and a negative net margin of 164.68%. Sell-side analysts anticipate that Corbus Pharmaceuticals Holdings Inc will post -1.2 EPS for the current year.

In related news, COO Robert Paul Discordia purchased 15,000 shares of the company’s stock in a transaction dated Monday, August 12th. The stock was acquired at an average cost of $5.86 per share, for a total transaction of $87,900.00. Following the completion of the transaction, the chief operating officer now directly owns 30,150 shares of the company’s stock, valued at $176,679. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders bought 19,064 shares of company stock valued at $114,021 over the last 90 days. Company insiders own 8.20% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CRBP. Aperio Group LLC acquired a new position in Corbus Pharmaceuticals in the second quarter valued at approximately $29,000. BNP Paribas Arbitrage SA lifted its holdings in Corbus Pharmaceuticals by 72,906.3% in the first quarter. BNP Paribas Arbitrage SA now owns 11,681 shares of the biopharmaceutical company’s stock valued at $81,000 after acquiring an additional 11,665 shares during the last quarter. Prospera Financial Services Inc acquired a new position in Corbus Pharmaceuticals in the first quarter valued at approximately $97,000. WINTON GROUP Ltd acquired a new position in Corbus Pharmaceuticals in the second quarter valued at approximately $97,000. Finally, Cetera Advisor Networks LLC acquired a new position in Corbus Pharmaceuticals in the first quarter valued at approximately $98,000. Hedge funds and other institutional investors own 36.78% of the company’s stock.

About Corbus Pharmaceuticals (NASDAQ:CRBP)

Corbus Pharmaceuticals Holdings, Inc, a clinical-stage pharmaceutical company, focuses on the development and commercialization of various therapeutics to treat rare, chronic, and serious inflammatory and fibrotic diseases. Its lead product candidate is lenabasum, a synthetic oral endocannabinoid drug that is in Phase 3 clinical trial for the treatment of systemic sclerosis and dermatomyositis, and in Phase 2 clinical trial to treat systemic lupus erythematosus and cystic fibrosis.

See Also: Dividend Stocks – Are They Right For You?

Receive News & Ratings for Corbus Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Corbus Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit