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

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

Wall Street Analyst Weigh In

Several analysts have issued reports on CRBP shares. Wedbush assumed coverage on Corbus Pharmaceuticals in a research note on Tuesday, July 30th. They issued an “outperform” rating and a $85.00 target price for the company. HC Wainwright reaffirmed a “buy” rating and issued a $80.00 price objective on shares of Corbus Pharmaceuticals in a research note on Tuesday, August 6th. B. Riley began coverage on shares of Corbus Pharmaceuticals in a research report on Wednesday, June 26th. They issued a “buy” rating and a $85.00 target price on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $82.00 price target on shares of Corbus Pharmaceuticals in a research note on Wednesday, August 28th. Finally, StockNews.com cut Corbus Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, August 10th. One investment analyst has rated the stock with a sell rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $77.67.

Corbus Pharmaceuticals Trading Down 3.1 %

The company has a market capitalization of $527.19 million, a P/E ratio of -7.09 and a beta of 2.56. The stock’s fifty day moving average is $55.85 and its 200 day moving average is $47.01.

Corbus Pharmaceuticals (NASDAQ:CRBP) last issued its quarterly earnings data on Tuesday, August 6th. The biopharmaceutical company reported ($0.90) EPS for the quarter, beating the consensus estimate of ($1.19) by $0.29. On average, analysts expect that Corbus Pharmaceuticals Holdings, Inc. will post -3.77 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Rhumbline Advisers purchased a new position in shares of Corbus Pharmaceuticals during the second quarter valued at approximately $638,000. Acadian Asset Management LLC purchased a new position in Corbus Pharmaceuticals during the 2nd quarter valued at $716,000. ClariVest Asset Management LLC purchased a new position in Corbus Pharmaceuticals during the 2nd quarter valued at $725,000. Victory Capital Management Inc. bought a new position in Corbus Pharmaceuticals in the 2nd quarter worth $862,000. Finally, The Manufacturers Life Insurance Company lifted its position in shares of Corbus Pharmaceuticals by 100.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,131 shares of the biopharmaceutical company’s stock worth $956,000 after purchasing an additional 10,604 shares during the period. Institutional investors own 64.64% of the company’s stock.

Corbus Pharmaceuticals Company Profile

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.