Corbus Pharmaceuticals (NASDAQ:CRBP) Stock Price Down 2%

Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP)’s share price traded down 2% on Tuesday . The company traded as low as $52.50 and last traded at $52.78. 18,999 shares traded hands during trading, a decline of 96% from the average session volume of 499,248 shares. The stock had previously closed at $53.88.

Analyst Ratings Changes

A number of equities research analysts recently commented on CRBP shares. HC Wainwright reaffirmed a “buy” rating and issued a $80.00 price target on shares of Corbus Pharmaceuticals in a report on Tuesday, August 6th. Oppenheimer upped their price target on Corbus Pharmaceuticals from $80.00 to $88.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. StockNews.com lowered Corbus Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday, August 10th. Wedbush initiated coverage on shares of Corbus Pharmaceuticals in a research note on Tuesday, July 30th. They set an “outperform” rating and a $85.00 price target on the stock. Finally, Lifesci Capital raised shares of Corbus Pharmaceuticals to a “strong-buy” rating in a report on Wednesday, August 21st. One equities research analyst has rated the stock with a sell rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Corbus Pharmaceuticals presently has an average rating of “Moderate Buy” and an average price target of $77.67.

Corbus Pharmaceuticals Price Performance

The firm’s 50 day moving average is $55.85 and its 200 day moving average is $47.01. The company has a market cap of $527.19 million, a PE ratio of -7.09 and a beta of 2.56.

Corbus Pharmaceuticals (NASDAQ:CRBP) last released its quarterly earnings results on Tuesday, August 6th. The biopharmaceutical company reported ($0.90) earnings per share for the quarter, topping the consensus estimate of ($1.19) by $0.29. As a group, analysts anticipate that Corbus Pharmaceuticals Holdings, Inc. will post -3.77 EPS for the current year.

Institutional Trading of Corbus Pharmaceuticals

Institutional investors and hedge funds have recently modified their holdings of the business. Janus Henderson Group PLC bought a new position in shares of Corbus Pharmaceuticals in the first quarter worth approximately $13,363,000. Price T Rowe Associates Inc. MD purchased a new stake in shares of Corbus Pharmaceuticals during the 1st quarter valued at $7,554,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Corbus Pharmaceuticals during the 1st quarter valued at $976,000. Vanguard Group Inc. lifted its holdings in shares of Corbus Pharmaceuticals by 143.7% during the 1st quarter. Vanguard Group Inc. now owns 437,264 shares of the biopharmaceutical company’s stock worth $17,158,000 after acquiring an additional 257,808 shares during the last quarter. Finally, TD Asset Management Inc grew its position in Corbus Pharmaceuticals by 92.5% in the second quarter. TD Asset Management Inc now owns 40,800 shares of the biopharmaceutical company’s stock worth $1,846,000 after acquiring an additional 19,600 shares in the last quarter. Hedge funds and other institutional investors own 64.64% of the company’s stock.

About Corbus Pharmaceuticals

Corbus Pharmaceuticals Holdings, Inc, a biopharmaceutical company, develops products to defeat serious illness. It develops CRB-701, an antibody drug conjugate (ADC) that targets the expression of Nectin-4 on cancer cells to release a cytotoxic payload of monomethyl auristatin E (MMAE), which is in Phase I clinical trial; CRB-601, an anti-integrin monoclonal antibody that blocks the activation of TGFß expressed on cancer cells for the treatment of solid tumors; CRB-913, a peripherally restricted cannabinoid type-1 (CB1) receptor inverse agonist for the treatment of obesity.