Corbus Pharmaceuticals (NASDAQ:CRBP) Stock Price Down 5.5%

Corbus Pharmaceuticals Holdings Inc (NASDAQ:CRBP) dropped 5.5% on Friday . The stock traded as low as $5.50 and last traded at $5.65, approximately 896,513 shares changed hands during trading. A decline of 25% from the average daily volume of 1,200,059 shares. The stock had previously closed at $5.98.

CRBP has been the topic of several research analyst reports. HC Wainwright set a $24.00 target price on Corbus Pharmaceuticals and gave the stock a “buy” rating in a research report on Monday, June 24th. Zacks Investment Research raised Corbus Pharmaceuticals from a “hold” rating to a “buy” rating and set a $6.75 target price on the stock in a research report on Thursday, July 25th. ValuEngine lowered Corbus Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Friday. Finally, BidaskClub lowered Corbus Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Tuesday, July 23rd. One equities research analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company’s stock. Corbus Pharmaceuticals has a consensus rating of “Buy” and a consensus price target of $23.47.

The stock has a market capitalization of $385.44 million, a P/E ratio of -5.77 and a beta of 1.84. The business has a 50-day moving average of $6.61. The company has a current ratio of 1.78, a quick ratio of 1.78 and a debt-to-equity ratio of 0.17.

Corbus Pharmaceuticals (NASDAQ:CRBP) last released its quarterly earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.43) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.45). The firm had revenue of $1.89 million for the quarter, compared to analyst estimates of $20.97 million. Corbus Pharmaceuticals had a negative return on equity of 166.99% and a negative net margin of 1,219.36%. Analysts predict that Corbus Pharmaceuticals Holdings Inc will post -1.2 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Aperio Group LLC acquired a new position in Corbus Pharmaceuticals during the second quarter worth approximately $29,000. Barclays PLC increased its position in Corbus Pharmaceuticals by 5,967.8% during the fourth quarter. Barclays PLC now owns 9,041 shares of the biopharmaceutical company’s stock worth $52,000 after buying an additional 8,892 shares during the period. BNP Paribas Arbitrage SA increased its position in Corbus Pharmaceuticals by 72,906.3% during the first quarter. BNP Paribas Arbitrage SA now owns 11,681 shares of the biopharmaceutical company’s stock worth $81,000 after buying an additional 11,665 shares during the period. Prospera Financial Services Inc acquired a new position in shares of Corbus Pharmaceuticals in the first quarter valued at approximately $97,000. Finally, WINTON GROUP Ltd acquired a new position in shares of Corbus Pharmaceuticals in the second quarter valued at approximately $97,000. 36.91% of the stock is currently owned by institutional investors.

About Corbus Pharmaceuticals (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 drug that is in Phase 3 clinical trial for the treatment of systemic sclerosis and dermatomyositis, and in Phase 2 clinical trial to treat systemic lupus erythematosus and cystic fibrosis.

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