Shares of Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) traded down 2.8% during trading on Monday . The stock traded as low as $6.85 and last traded at $7.25. 936,400 shares were traded during trading, an increase of 15% from the average session volume of 811,531 shares. The stock had previously closed at $7.05.
CRBP has been the subject of several analyst reports. Cantor Fitzgerald set a $24.00 price objective on shares of Corbus Pharmaceuticals Holdings and gave the stock a “buy” rating in a research note on Wednesday, August 9th. BidaskClub cut shares of Corbus Pharmaceuticals Holdings from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 5th. ValuEngine cut shares of Corbus Pharmaceuticals Holdings from a “hold” rating to a “sell” rating in a research note on Wednesday, September 13th. Finally, Noble Financial reiterated a “buy” rating on shares of Corbus Pharmaceuticals Holdings in a research note on Wednesday, August 9th. Two research analysts have rated the stock with a sell rating and four have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $20.75.
Corbus Pharmaceuticals Holdings (NASDAQ:CRBP) last posted its earnings results on Wednesday, November 8th. The biopharmaceutical company reported ($0.14) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.16) by $0.02. Corbus Pharmaceuticals Holdings had a negative net margin of 1,040.41% and a negative return on equity of 96.02%. The firm had revenue of $0.80 million for the quarter. equities analysts anticipate that Corbus Pharmaceuticals Holdings, Inc. will post -0.63 EPS for the current fiscal year.
In related news, Director David P. Hochman bought 10,000 shares of the business’s stock in a transaction that occurred on Friday, November 10th. The shares were acquired at an average cost of $7.08 per share, with a total value of $70,800.00. Following the completion of the purchase, the director now directly owns 459,500 shares in the company, valued at $3,253,260. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last ninety days, insiders bought 15,336 shares of company stock worth $108,382. Insiders own 11.90% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of New York Mellon Corp raised its holdings in 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 worth $174,000 after buying an additional 1,511 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Corbus Pharmaceuticals Holdings by 6.0% in the first quarter. Vanguard Group Inc. now owns 1,255,429 shares of the biopharmaceutical company’s stock valued at $10,357,000 after acquiring an additional 71,419 shares during the period. Geode Capital Management LLC boosted its position in shares of Corbus Pharmaceuticals Holdings by 16.5% in the first quarter. Geode Capital Management LLC now owns 201,177 shares of the biopharmaceutical company’s stock valued at $1,659,000 after acquiring an additional 28,492 shares during the period. Credit Suisse AG bought a new position in shares of Corbus Pharmaceuticals Holdings in the first quarter valued at approximately $157,000. Finally, Creative Planning boosted its position in shares of Corbus Pharmaceuticals Holdings by 3.9% in the second quarter. Creative Planning now owns 173,475 shares of the biopharmaceutical company’s stock valued at $1,093,000 after acquiring an additional 6,525 shares during the period. 29.20% of the stock is currently owned by institutional investors and hedge funds.
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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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