Corbus Pharmaceuticals (NASDAQ:CRBP) Trading Down 5.4%

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Shares of Corbus Pharmaceuticals Holdings Inc (NASDAQ:CRBP) traded down 5.4% during trading on Friday . The company traded as low as $5.29 and last traded at $5.30, 677,458 shares were traded during mid-day trading. A decline of 42% from the average session volume of 1,166,127 shares. The stock had previously closed at $5.60.

A number of equities analysts have commented on the stock. Royal Bank of Canada reissued a “buy” rating and issued a $23.00 price target on shares of Corbus Pharmaceuticals in a research note on Sunday, August 11th. BidaskClub raised shares of Corbus Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Wednesday, August 14th. HC Wainwright set a $24.00 price target on shares of Corbus Pharmaceuticals and gave the stock a “buy” rating in a research note on Monday, June 24th. ValuEngine lowered shares of Corbus Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Friday, August 2nd. Finally, Zacks Investment Research upgraded shares of Corbus Pharmaceuticals from a “hold” rating to a “strong-buy” rating and set a $7.00 price objective for the company in a report on Tuesday, August 13th. One analyst has rated the stock with a sell rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $23.50.

The stock has a market capitalization of $362.05 million, a P/E ratio of -5.41 and a beta of 1.84. The company has a current ratio of 2.56, a quick ratio of 2.56 and a debt-to-equity ratio of 0.15. The stock’s fifty day moving average price is $6.07 and its two-hundred day moving average price is $6.93.

Corbus Pharmaceuticals (NASDAQ:CRBP) last announced its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported $0.03 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.22) by $0.25. The firm had revenue of $29.10 million during the quarter, compared to analyst estimates of $10.32 million. Corbus Pharmaceuticals had a negative net margin of 164.68% and a negative return on equity of 139.91%. As a group, analysts expect that Corbus Pharmaceuticals Holdings Inc will post -1.05 earnings per share for the current fiscal year.

In other news, COO Robert Paul Discordia purchased 15,000 shares of the stock in a transaction that occurred on Monday, August 12th. The stock was bought at an average cost of $5.86 per share, for a total transaction of $87,900.00. Following the acquisition, the chief operating officer now directly owns 30,150 shares of the company’s stock, valued at approximately $176,679. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have purchased a total of 19,175 shares of company stock valued at $112,241 over the last quarter. 8.20% of the stock is currently owned by company insiders.

Large investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp lifted its stake in Corbus Pharmaceuticals by 9.2% during the fourth quarter. Bank of New York Mellon Corp now owns 194,374 shares of the biopharmaceutical company’s stock worth $1,135,000 after purchasing an additional 16,305 shares during the period. Geode Capital Management LLC lifted its stake in 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 purchasing an additional 28,582 shares during the period. Bank of America Corp DE lifted its stake in 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 purchasing an additional 2,335 shares during the period. Millennium Management LLC lifted its stake in 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 purchasing an additional 100,051 shares during the period. Finally, Creative Planning raised its stake in shares of Corbus Pharmaceuticals by 19.2% in the first quarter. Creative Planning now owns 237,834 shares of the biopharmaceutical company’s stock valued at $1,653,000 after acquiring an additional 38,263 shares during the last quarter. Institutional investors own 38.35% of the company’s stock.

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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