StockNews.com Begins Coverage on Corbus Pharmaceuticals (NASDAQ:CRBP)

Stock analysts at StockNews.com assumed coverage on shares of Corbus Pharmaceuticals (NASDAQ:CRBPGet Rating) in a research note issued on Wednesday. The firm set a “hold” rating on the biopharmaceutical company’s stock.

Corbus Pharmaceuticals Price Performance

Shares of NASDAQ CRBP opened at $0.19 on Wednesday. The firm has a market cap of $23.19 million, a PE ratio of -0.64 and a beta of 1.98. The company has a current ratio of 4.81, a quick ratio of 4.81 and a debt-to-equity ratio of 0.23. Corbus Pharmaceuticals has a 1-year low of $0.19 and a 1-year high of $1.13. The company has a fifty day moving average price of $0.24 and a 200 day moving average price of $0.31.

Corbus Pharmaceuticals (NASDAQ:CRBPGet Rating) last announced its earnings results on Tuesday, August 9th. The biopharmaceutical company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.01). Research analysts predict that Corbus Pharmaceuticals will post -0.23 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Corbus Pharmaceuticals

A number of large investors have recently modified their holdings of CRBP. Acadian Asset Management LLC acquired a new position in shares of Corbus Pharmaceuticals during the 4th quarter worth about $112,000. ETF Managers Group LLC raised its holdings in Corbus Pharmaceuticals by 0.3% in the 4th quarter. ETF Managers Group LLC now owns 14,138,998 shares of the biopharmaceutical company’s stock valued at $8,534,000 after acquiring an additional 37,487 shares during the period. Davy Global Fund Management Ltd raised its holdings in Corbus Pharmaceuticals by 36.6% in the 1st quarter. Davy Global Fund Management Ltd now owns 435,285 shares of the biopharmaceutical company’s stock valued at $231,000 after acquiring an additional 116,617 shares during the period. GSA Capital Partners LLP bought a new position in Corbus Pharmaceuticals in the 1st quarter valued at about $275,000. Finally, Renaissance Technologies LLC increased its holdings in shares of Corbus Pharmaceuticals by 371.0% during the first quarter. Renaissance Technologies LLC now owns 1,157,191 shares of the biopharmaceutical company’s stock worth $615,000 after purchasing an additional 911,491 shares during the period. 25.40% of the stock is currently owned by institutional investors and hedge funds.

Corbus Pharmaceuticals Company Profile

(Get Rating)

Corbus Pharmaceuticals Holdings, Inc, a biopharmaceutical company, focuses on the development of immune modulators for immuno-oncology and fibrosis diseases. It develops lenabasum, an oral molecule that selectively activates cannabinoid receptor type 2 (CB2), which is in Phase II clinical trial to treat systemic lupus erythematosus; CRB-601, an anti-integrin monoclonal antibody (mAb) for the treatment of cancer and fibrosis that inhibits the activation of transforming growth factor ß (TGFß); and CRB-602, an anti-avß6/avß8 mAb that blocks the activation of TGFß for the treatment of fibrotic diseases.

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