Corbus Pharmaceuticals (NASDAQ:CRBP) Shares Down 2%

Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) fell 2% during trading on Tuesday . The company traded as low as $52.50 and last traded at $52.78. 18,999 shares traded hands during mid-day 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

Several equities analysts have recently issued reports on CRBP shares. Lifesci Capital upgraded Corbus Pharmaceuticals to a “strong-buy” rating in a research report on Wednesday, August 21st. B. Riley began coverage on shares of Corbus Pharmaceuticals in a report on Wednesday, June 26th. They set a “buy” rating and a $85.00 price objective for the company. HC Wainwright reissued a “buy” rating and set a $80.00 price target on shares of Corbus Pharmaceuticals in a research report on Tuesday, August 6th. Royal Bank of Canada reissued an “outperform” rating and issued a $82.00 price target on shares of Corbus Pharmaceuticals in a report on Wednesday, August 28th. Finally, Wedbush started coverage on Corbus Pharmaceuticals in a research note on Tuesday, July 30th. They set an “outperform” rating and a $85.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $77.67.

Corbus Pharmaceuticals Price Performance

The company has a market cap of $535.42 million, a P/E ratio of -7.20 and a beta of 2.56. The company’s 50-day moving average price is $55.90 and its 200-day moving average price is $46.88.

Corbus Pharmaceuticals (NASDAQ:CRBP) last released its earnings results on Tuesday, August 6th. The biopharmaceutical company reported ($0.90) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.19) by $0.29. On average, equities research analysts predict that Corbus Pharmaceuticals Holdings, Inc. will post -3.77 EPS for the current year.

Institutional Investors Weigh In On Corbus Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Corbus Pharmaceuticals in the first quarter valued at approximately $976,000. Vanguard Group Inc. increased its stake in Corbus Pharmaceuticals by 143.7% in the 1st quarter. Vanguard Group Inc. now owns 437,264 shares of the biopharmaceutical company’s stock valued at $17,158,000 after buying an additional 257,808 shares during the last quarter. Altitude Crest Partners Inc. bought a new stake in Corbus Pharmaceuticals during the 1st quarter worth about $4,069,000. Price T Rowe Associates Inc. MD acquired a new position in shares of Corbus Pharmaceuticals during the 1st quarter worth about $7,554,000. Finally, Janus Henderson Group PLC bought a new position in shares of Corbus Pharmaceuticals in the 1st quarter valued at about $13,363,000. Institutional investors and hedge funds 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.