Corbus Pharmaceuticals (NASDAQ:CRBP) Share Price Passes Above 50 Day Moving Average of $8.73

Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP – Get Rating) shares passed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $8.73 and traded as high as $11.30. Corbus Pharmaceuticals shares last traded at $10.41, with a volume of 32,718 shares trading hands.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CRBP. Oppenheimer raised Corbus Pharmaceuticals from a “market perform” rating to an “outperform” rating in a research report on Wednesday, May 10th. HC Wainwright reissued a “buy” rating and issued a $3.00 price objective on shares of Corbus Pharmaceuticals in a research report on Wednesday, March 8th. Finally, StockNews.com initiated coverage on Corbus Pharmaceuticals in a research report on Thursday, May 18th. They issued a “sell” rating for the company.

Corbus Pharmaceuticals Stock Performance

The stock has a market capitalization of $43.93 million, a P/E ratio of -0.85 and a beta of 2.43. The firm has a 50-day moving average of $8.73 and a 200 day moving average of $3.57. The company has a quick ratio of 3.19, a current ratio of 3.19 and a debt-to-equity ratio of 0.85.

Corbus Pharmaceuticals (NASDAQ:CRBP – Get Rating) last issued its earnings results on Tuesday, March 7th. The biopharmaceutical company reported ($2.61) EPS for the quarter, missing the consensus estimate of ($2.10) by ($0.51). Research analysts anticipate that Corbus Pharmaceuticals Holdings, Inc. will post -7.3 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Virtu Financial LLC acquired a new position in Corbus Pharmaceuticals during the first quarter worth $73,000. Dimensional Fund Advisors LP acquired a new position in Corbus Pharmaceuticals during the first quarter worth $99,000. State Street Corp raised its stake in Corbus Pharmaceuticals by 10.7% during the first quarter. State Street Corp now owns 395,513 shares of the biopharmaceutical company’s stock worth $210,000 after acquiring an additional 38,304 shares in the last quarter. Vident Investment Advisory LLC raised its stake in Corbus Pharmaceuticals by 66.2% during the first quarter. Vident Investment Advisory LLC now owns 255,146 shares of the biopharmaceutical company’s stock worth $135,000 after acquiring an additional 101,659 shares in the last quarter. Finally, Sio Capital Management LLC acquired a new position in Corbus Pharmaceuticals during the first quarter worth $1,090,000. 18.65% of the stock is currently owned by institutional investors and hedge funds.

Corbus Pharmaceuticals Company Profile

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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.