Corbus Pharmaceuticals (CRBP) Shares Down 1.8%

Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) dropped 1.8% during mid-day trading on Friday . The stock traded as low as $7.60 and last traded at $8.35. Approximately 1,203,800 shares traded hands during trading, a decline of 36% from the average daily volume of 1,888,033 shares. The stock had previously closed at $8.50.

CRBP has been the subject of several research reports. Noble Financial increased their price objective on shares of Corbus Pharmaceuticals from $16.00 to $20.00 and gave the stock a “buy” rating in a research report on Wednesday, November 8th. ValuEngine downgraded shares of Corbus Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Wednesday, September 13th. BidaskClub raised shares of Corbus Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Friday, December 29th. Finally, Cantor Fitzgerald reissued a “buy” rating and set a $24.00 price objective 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 issued a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $25.00.

The company has a market capitalization of $428.01, a PE ratio of -12.58 and a beta of 174.68.

Corbus Pharmaceuticals (NASDAQ:CRBP) last announced its quarterly earnings data on Wednesday, November 8th. The biopharmaceutical company reported ($0.14) EPS for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.02. Corbus Pharmaceuticals had a negative net margin of 1,040.41% and a negative return on equity of 96.02%. The company had revenue of $0.80 million during the quarter. research analysts anticipate that Corbus Pharmaceuticals Holdings, Inc. will post -0.6 EPS for the current fiscal year.

In other news, Director David P. Hochman acquired 5,000 shares of the firm’s stock in a transaction dated Monday, November 13th. The stock was bought at an average price of $6.90 per share, with a total value of $34,500.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director David P. Hochman acquired 10,000 shares of the firm’s stock in a transaction dated Friday, November 10th. The stock was purchased at an average cost of $7.08 per share, with a total value of $70,800.00. Following the transaction, the director now owns 459,500 shares in the company, valued at $3,253,260. The disclosure for this purchase can be found here. In the last three months, insiders bought 25,336 shares of company stock valued at $175,632. Insiders own 11.90% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. State Board of Administration of Florida Retirement System acquired a new stake in shares of Corbus Pharmaceuticals during the 3rd quarter worth about $108,000. Yellowstone Partners LLC acquired a new stake in shares of Corbus Pharmaceuticals during the 3rd quarter worth about $110,000. Voya Investment Management LLC acquired a new stake in shares of Corbus Pharmaceuticals during the 2nd quarter worth about $125,000. Capital Fund Management S.A. acquired a new stake in shares of Corbus Pharmaceuticals during the 2nd quarter worth about $130,000. Finally, Credit Suisse AG acquired a new stake in Corbus Pharmaceuticals in the 1st quarter worth about $157,000. 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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