Corbus Pharmaceuticals (NASDAQ:CRBP) Trading Down 5%

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Corbus Pharmaceuticals Holdings Inc (NASDAQ:CRBP)’s stock price dropped 5% during mid-day trading on Thursday . The stock traded as low as $5.90 and last traded at $5.68, approximately 58,278 shares were traded during trading. A decline of 94% from the average daily volume of 905,509 shares. The stock had previously closed at $5.98.

CRBP has been the topic of several recent analyst reports. Zacks Investment Research raised shares of Corbus Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Tuesday, January 28th. ValuEngine raised shares of Corbus Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, January 7th. BidaskClub downgraded shares of Corbus Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, January 29th. Finally, HC Wainwright reissued a “buy” rating and set a $24.00 target price on shares of Corbus Pharmaceuticals in a research note on Monday, December 23rd. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $23.71.

The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.27. The stock’s 50 day moving average price is $6.32 and its two-hundred day moving average price is $5.46.

Hedge funds and other institutional investors have recently bought and sold shares of the company. State Street Corp increased its stake in shares of Corbus Pharmaceuticals by 5.6% in the third quarter. State Street Corp now owns 1,099,507 shares of the biopharmaceutical company’s stock worth $5,355,000 after acquiring an additional 58,547 shares during the last quarter. Squarepoint Ops LLC acquired a new position in shares of Corbus Pharmaceuticals in the third quarter worth $127,000. Aries Wealth Management increased its stake in shares of Corbus Pharmaceuticals by 9.8% in the fourth quarter. Aries Wealth Management now owns 27,900 shares of the biopharmaceutical company’s stock worth $160,000 after acquiring an additional 2,500 shares during the last quarter. Parametric Portfolio Associates LLC acquired a new position in shares of Corbus Pharmaceuticals in the second quarter worth $123,000. Finally, Russell Investments Group Ltd. acquired a new position in shares of Corbus Pharmaceuticals in the third quarter worth $1,062,000. 49.83% of the stock is currently owned by institutional investors and hedge funds.

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 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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