Corbus Pharmaceuticals (NASDAQ:CRBP) Stock Rating Upgraded by StockNews.com

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

A number of other analysts have also recently commented on CRBP. B. Riley dropped their price target on shares of Corbus Pharmaceuticals from $85.00 to $40.00 and set a “buy” rating on the stock in a research note on Friday, September 20th. Mizuho restated an “outperform” rating and set a $74.00 target price on shares of Corbus Pharmaceuticals in a research report on Friday, September 20th. HC Wainwright reiterated a “buy” rating and issued a $80.00 price target on shares of Corbus Pharmaceuticals in a research report on Monday, September 23rd. Wedbush reiterated an “outperform” rating and set a $51.00 price objective on shares of Corbus Pharmaceuticals in a research note on Monday, November 4th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $82.00 target price on shares of Corbus Pharmaceuticals in a research note on Friday, September 20th. One research analyst has rated the stock with a sell rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $62.00.

Corbus Pharmaceuticals Stock Down 4.2 %

Corbus Pharmaceuticals stock traded down $0.49 during midday trading on Monday, reaching $11.30. The stock had a trading volume of 127,088 shares, compared to its average volume of 169,955. The firm has a market capitalization of $137.62 million, a PE ratio of -2.41 and a beta of 2.63. Corbus Pharmaceuticals has a 12 month low of $5.67 and a 12 month high of $61.90. The firm’s 50-day moving average price is $15.26 and its 200 day moving average price is $32.72.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Bank of New York Mellon Corp purchased a new position in shares of Corbus Pharmaceuticals in the 2nd quarter worth about $1,368,000. Charles Schwab Investment Management Inc. lifted its position in Corbus Pharmaceuticals by 224.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 93,643 shares of the biopharmaceutical company’s stock worth $1,932,000 after buying an additional 64,800 shares during the last quarter. Darwin Global Management Ltd. purchased a new stake in Corbus Pharmaceuticals in the second quarter worth approximately $14,267,000. State Street Corp grew its position in 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 acquiring an additional 153,243 shares during the last quarter. Finally, Acadian Asset Management LLC purchased a new position in shares of Corbus Pharmaceuticals during the second quarter worth approximately $716,000. 64.64% of the stock is currently owned by institutional investors.

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.