Corbus Pharmaceuticals (NASDAQ:CRBP) Stock Passes Above Fifty Day Moving Average – Should You Sell?

Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP)’s stock price passed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $9.64 and traded as high as $11.57. Corbus Pharmaceuticals shares last traded at $11.04, with a volume of 261,978 shares.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on CRBP shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Corbus Pharmaceuticals in a research note on Monday, April 20th. Guggenheim started coverage on shares of Corbus Pharmaceuticals in a research note on Wednesday, April 29th. They issued a “buy” rating and a $45.00 price objective for the company. Jefferies Financial Group raised shares of Corbus Pharmaceuticals to a “strong-buy” rating in a research note on Wednesday, February 18th. Wall Street Zen raised shares of Corbus Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Saturday, April 25th. Finally, Oppenheimer lifted their price target on shares of Corbus Pharmaceuticals from $53.00 to $57.00 and gave the stock an “outperform” rating in a report on Tuesday, March 10th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $43.88.

Corbus Pharmaceuticals Price Performance

The company’s fifty day simple moving average is $9.64 and its 200-day simple moving average is $9.74. The firm has a market capitalization of $195.85 million, a PE ratio of -1.85 and a beta of 2.68.

Corbus Pharmaceuticals (NASDAQ:CRBP) last released its quarterly earnings results on Monday, March 9th. The biopharmaceutical company reported ($1.25) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.78) by $0.53. As a group, equities research analysts anticipate that Corbus Pharmaceuticals Holdings, Inc. will post -4.78 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Corbus Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of the company. Orbimed Advisors LLC grew its holdings in Corbus Pharmaceuticals by 36.3% in the fourth quarter. Orbimed Advisors LLC now owns 1,597,287 shares of the biopharmaceutical company’s stock worth $13,002,000 after purchasing an additional 425,000 shares during the last quarter. Aberdeen Group plc grew its holdings in shares of Corbus Pharmaceuticals by 602.2% during the fourth quarter. Aberdeen Group plc now owns 1,321,750 shares of the biopharmaceutical company’s stock valued at $10,759,000 after buying an additional 1,133,519 shares during the last quarter. Prosight Management LP grew its holdings in shares of Corbus Pharmaceuticals by 99.1% during the fourth quarter. Prosight Management LP now owns 683,872 shares of the biopharmaceutical company’s stock valued at $5,567,000 after buying an additional 340,472 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Corbus Pharmaceuticals by 2.1% during the third quarter. Vanguard Group Inc. now owns 612,030 shares of the biopharmaceutical company’s stock valued at $7,742,000 after buying an additional 12,535 shares during the last quarter. Finally, Armistice Capital LLC grew its holdings in shares of Corbus Pharmaceuticals by 179.2% during the fourth quarter. Armistice Capital LLC now owns 536,000 shares of the biopharmaceutical company’s stock valued at $4,363,000 after buying an additional 344,000 shares during the last quarter. 64.64% of the stock is owned by hedge funds and other institutional investors.

Corbus Pharmaceuticals Company Profile

Corbus Pharmaceuticals Holdings, Inc is a clinical-stage biopharmaceutical company dedicated to the development and commercialization of therapeutic candidates for rare, life-threatening inflammatory and fibrotic diseases. The company’s lead investigational therapy, lenabasum, is a synthetic, oral cannabinoid receptor type 2 (CB2) agonist designed to resolve chronic inflammation by harnessing the body’s innate resolution pathways. Corbus operates by advancing small-molecule compounds through preclinical and clinical studies to address unmet medical needs in autoimmune and inflammatory disorders.

Lenabasum is currently under evaluation in a Phase 3 clinical trial for diffuse cutaneous systemic sclerosis (dcSSc) and in a Phase 2 study for cystic fibrosis–related inflammation.