Corbus Pharmaceuticals (NASDAQ:CRBP) Earns Sell Rating from Analysts at StockNews.com

StockNews.com initiated coverage on shares of Corbus Pharmaceuticals (NASDAQ:CRBPGet Rating) in a research note published on Thursday morning. The firm issued a sell rating on the biopharmaceutical company’s stock.

Separately, HC Wainwright reissued a buy rating and issued a $3.00 target price on shares of Corbus Pharmaceuticals in a report on Wednesday, March 8th.

Corbus Pharmaceuticals Stock Performance

Shares of NASDAQ:CRBP traded up $0.45 during trading on Thursday, hitting $6.20. The company’s stock had a trading volume of 10,895,254 shares, compared to its average volume of 499,981. The company has a 50-day moving average of $1.56 and a 200-day moving average of $0.64. Corbus Pharmaceuticals has a 12 month low of $2.11 and a 12 month high of $18.72. The company has a debt-to-equity ratio of 0.48, a current ratio of 4.76 and a quick ratio of 4.76.

Institutional Investors Weigh In On Corbus Pharmaceuticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC grew its holdings in Corbus Pharmaceuticals by 371.0% during the 1st quarter. Renaissance Technologies LLC now owns 1,157,191 shares of the biopharmaceutical company’s stock valued at $615,000 after buying an additional 911,491 shares in the last quarter. State Street Corp grew its holdings in Corbus Pharmaceuticals by 10.7% during the 1st quarter. State Street Corp now owns 395,513 shares of the biopharmaceutical company’s stock valued at $210,000 after buying an additional 38,304 shares in the last quarter. Vident Investment Advisory LLC grew its holdings in Corbus Pharmaceuticals by 66.2% during the 1st quarter. Vident Investment Advisory LLC now owns 255,146 shares of the biopharmaceutical company’s stock valued at $135,000 after buying an additional 101,659 shares in the last quarter. Two Sigma Investments LP grew its holdings in Corbus Pharmaceuticals by 366.7% during the 4th quarter. Two Sigma Investments LP now owns 570,168 shares of the biopharmaceutical company’s stock valued at $63,000 after buying an additional 448,002 shares in the last quarter. Finally, ExodusPoint Capital Management LP purchased a new stake in Corbus Pharmaceuticals during the 3rd quarter valued at approximately $60,000. 18.65% of the stock is owned by hedge funds and other institutional investors.

About Corbus Pharmaceuticals

(Get Rating)

Corbus Pharmaceuticals Holdings, Inc is a phase 3 clinical-stage pharmaceutical company, which focuses on the development and commercialization of novel therapeutics to treat rare, chronic, and serious inflammatory and fibrotic diseases. Its products include candidate, Lenabasum, is a novel, synthetic oral endocannabinoid-mimetic drug designed to resolve chronic inflammation and fibrotic processes.

Recommended Stories

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.