Shares of Corbus Pharmaceuticals Holdings Inc (NASDAQ:CRBP) were down 8.2% during trading on Friday . The company traded as low as $7.03 and last traded at $7.05. Approximately 1,424,537 shares were traded during trading, a decline of 19% from the average daily volume of 1,767,492 shares. The stock had previously closed at $7.68.
A number of analysts have commented on CRBP shares. ValuEngine lowered shares of Corbus Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 24th. HC Wainwright started coverage on shares of Corbus Pharmaceuticals in a report on Wednesday, December 26th. They set a “buy” rating and a $24.00 target price for the company. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $38.00 target price (up previously from $36.00) on shares of Corbus Pharmaceuticals in a report on Friday, January 11th. Royal Bank of Canada started coverage on shares of Corbus Pharmaceuticals in a report on Friday, December 7th. They set an “outperform” rating and a $23.00 target price for the company. Finally, BidaskClub raised shares of Corbus Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Thursday, December 27th. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $24.50.
The stock has a market capitalization of $453.98 million, a price-to-earnings ratio of -7.19 and a beta of 2.17.
Corbus Pharmaceuticals (NASDAQ:CRBP) last announced its quarterly earnings results on Tuesday, March 12th. The biopharmaceutical company reported ($0.30) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.07). The firm had revenue of $1.93 million for the quarter, compared to the consensus estimate of $1.99 million. Corbus Pharmaceuticals had a negative return on equity of 116.34% and a negative net margin of 1,154.52%. As a group, sell-side analysts expect that Corbus Pharmaceuticals Holdings Inc will post -0.85 EPS for the current fiscal year.
In other news, insider Barbara White purchased 4,638 shares of Corbus Pharmaceuticals stock in a transaction dated Thursday, March 14th. The shares were bought at an average cost of $6.47 per share, with a total value of $30,007.86. Following the completion of the transaction, the insider now directly owns 184,159 shares in the company, valued at approximately $1,191,508.73. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last three months, insiders have bought 8,668 shares of company stock worth $56,923. Insiders own 12.60% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in CRBP. Geode Capital Management LLC increased its position in shares of Corbus Pharmaceuticals by 5.6% during the fourth quarter. Geode Capital Management LLC now owns 542,722 shares of the biopharmaceutical company’s stock worth $3,169,000 after buying an additional 28,582 shares during the period. Millennium Management LLC increased its position in shares of Corbus Pharmaceuticals by 331.4% during the fourth quarter. Millennium Management LLC now owns 130,245 shares of the biopharmaceutical company’s stock worth $761,000 after buying an additional 100,051 shares during the period. Metropolitan Life Insurance Co. NY increased its position in shares of Corbus Pharmaceuticals by 357.7% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 16,973 shares of the biopharmaceutical company’s stock worth $99,000 after buying an additional 13,265 shares during the period. D. E. Shaw & Co. Inc. acquired a new stake in shares of Corbus Pharmaceuticals during the fourth quarter worth $3,125,000. Finally, Bank of America Corp DE increased its position in shares of Corbus Pharmaceuticals by 6.7% during the fourth quarter. Bank of America Corp DE now owns 37,304 shares of the biopharmaceutical company’s stock worth $218,000 after buying an additional 2,335 shares during the period. 40.27% of the stock is currently owned by institutional investors.
Corbus Pharmaceuticals Company Profile (NASDAQ:CRBP)
Corbus Pharmaceuticals Holdings, Inc, a clinical-stage pharmaceutical company, focuses on the development and commercialization of various therapeutics to treat rare, chronic, and serious inflammatory and fibrotic diseases. Its lead product candidate is lenabasum, a synthetic oral endocannabinoid-mimetic drug to resolve chronic inflammation and fibrotic processes in systemic sclerosis, cystic fibrosis, dermatomyositis, and systemic lupus erythematosus diseases.
Featured Story: Understanding Average Daily Trade Volume
Receive News & Ratings for Corbus Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Corbus Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.