Corbus Pharmaceuticals (NASDAQ:CRBP) Downgraded to Sell at StockNews.com

Corbus Pharmaceuticals (NASDAQ:CRBP) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a report released on Thursday.

Several other equities analysts also recently weighed in on CRBP. Oppenheimer raised their price target on Corbus Pharmaceuticals from $58.00 to $60.00 and gave the stock an “outperform” rating in a research report on Wednesday. Jefferies Financial Group raised Corbus Pharmaceuticals from a “hold” rating to a “buy” rating and lifted their price objective for the company from $4.00 to $46.00 in a research report on Wednesday, March 6th.

Corbus Pharmaceuticals Price Performance

Corbus Pharmaceuticals stock traded up $1.35 during mid-day trading on Thursday, hitting $43.74. 650,384 shares of the company were exchanged, compared to its average volume of 721,415. The business’s 50 day simple moving average is $38.85 and its two-hundred day simple moving average is $20.49. The company has a market capitalization of $459.58 million, a P/E ratio of -6.28 and a beta of 2.46. Corbus Pharmaceuticals has a 12-month low of $3.03 and a 12-month high of $49.87.

Corbus Pharmaceuticals (NASDAQ:CRBP) last released its quarterly earnings results on Tuesday, March 12th. The biopharmaceutical company reported ($1.81) earnings per share for the quarter, topping the consensus estimate of ($2.36) by $0.55. Equities research analysts predict that Corbus Pharmaceuticals will post -5.21 earnings per share for the current year.

Insider Activity

In other news, major shareholder Cormorant Asset Management, Lp bought 250,000 shares of Corbus Pharmaceuticals stock in a transaction that occurred on Thursday, March 7th. The shares were purchased at an average price of $40.05 per share, for a total transaction of $10,012,500.00. Following the completion of the acquisition, the insider now owns 1,725,000 shares of the company’s stock, valued at $69,086,250. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 4.00% of the company’s stock.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Corbus Pharmaceuticals stock. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 24,880 shares of the biopharmaceutical company’s stock, valued at approximately $976,000. Mirae Asset Global Investments Co. Ltd. owned about 0.24% of Corbus Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission (SEC). 64.64% of the stock is currently owned by institutional investors.

Corbus Pharmaceuticals Company Profile

Corbus Pharmaceuticals Holdings, Inc, a biopharmaceutical company, develops products to defeat serious illness. It develops CRB-701, an antibody drug conjugate (ADC) that targets the expression of Nectin-4 on cancer cells to release a cytotoxic payload of monomethyl auristatin E (MMAE), which is in Phase I clinical trial; CRB-601, an anti-integrin monoclonal antibody that blocks the activation of TGFß expressed on cancer cells for the treatment of solid tumors; CRB-913, a peripherally restricted cannabinoid type-1 (CB1) receptor inverse agonist for the treatment of obesity.