Corbus Pharmaceuticals (NASDAQ:CRBP) Raised to Sell at StockNews.com

Corbus Pharmaceuticals (NASDAQ:CRBP) was upgraded by equities researchers at StockNews.com to a “sell” rating in a research report issued on Thursday.

CRBP has been the topic of several other research reports. HC Wainwright reiterated a “buy” rating and issued a $75.00 price objective on shares of Corbus Pharmaceuticals in a report on Tuesday, February 18th. Piper Sandler began coverage on Corbus Pharmaceuticals in a research report on Monday, December 2nd. They set an “overweight” rating and a $35.00 price target on the stock. Finally, William Blair assumed coverage on Corbus Pharmaceuticals in a research note on Friday, February 28th. They set an “outperform” rating for the company. One research analyst has rated the stock with a sell rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Corbus Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus price target of $63.57.

Corbus Pharmaceuticals Stock Performance

CRBP stock opened at $6.79 on Thursday. The firm has a market cap of $82.70 million, a P/E ratio of -1.45 and a beta of 2.63. The firm’s fifty day moving average is $9.98 and its 200 day moving average is $20.82. Corbus Pharmaceuticals has a 52 week low of $6.54 and a 52 week high of $61.90.

Hedge Funds Weigh In On Corbus Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the business. Orbimed Advisors LLC increased its position in Corbus Pharmaceuticals by 28.5% during the 4th quarter. Orbimed Advisors LLC now owns 1,172,287 shares of the biopharmaceutical company’s stock valued at $13,833,000 after purchasing an additional 259,735 shares during the period. State Street Corp increased its position in shares of Corbus Pharmaceuticals by 34.6% during the third quarter. State Street Corp now owns 595,576 shares of the biopharmaceutical company’s stock valued at $12,287,000 after buying an additional 153,243 shares during the period. Millennium Management LLC raised its stake in Corbus Pharmaceuticals by 215.0% in the fourth quarter. Millennium Management LLC now owns 386,653 shares of the biopharmaceutical company’s stock worth $4,563,000 after buying an additional 263,902 shares in the last quarter. Altium Capital Management LLC lifted its holdings in Corbus Pharmaceuticals by 97.4% in the fourth quarter. Altium Capital Management LLC now owns 385,000 shares of the biopharmaceutical company’s stock worth $4,543,000 after buying an additional 190,000 shares during the period. Finally, Prosight Management LP boosted its position in Corbus Pharmaceuticals by 107.7% during the 4th quarter. Prosight Management LP now owns 270,000 shares of the biopharmaceutical company’s stock valued at $3,186,000 after acquiring an additional 140,000 shares in the last quarter. 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.