Corbus Pharmaceuticals (CRBP) Stock Rating Lowered by BidaskClub
BidaskClub cut shares of Corbus Pharmaceuticals (NASDAQ:CRBP) from a sell rating to a strong sell rating in a research note published on Tuesday, September 18th.
A number of other research firms also recently weighed in on CRBP. ValuEngine downgraded Corbus Pharmaceuticals from a buy rating to a hold rating in a research report on Friday, August 10th. Cantor Fitzgerald set a $32.00 target price on Corbus Pharmaceuticals and gave the stock a buy rating in a research report on Wednesday, July 25th. One equities research analyst has rated the stock with a sell rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. Corbus Pharmaceuticals has an average rating of Buy and a consensus price target of $26.67.
Corbus Pharmaceuticals stock traded up $0.18 during mid-day trading on Tuesday, hitting $6.74. 1,162,400 shares of the company’s stock were exchanged, compared to its average volume of 867,378. The company has a market capitalization of $431.91 million, a price-to-earnings ratio of -10.37 and a beta of 2.17. Corbus Pharmaceuticals has a 1-year low of $4.50 and a 1-year high of $9.95.
Several large investors have recently bought and sold shares of CRBP. ETF Managers Group LLC raised its stake in shares of Corbus Pharmaceuticals by 979.1% in the first quarter. ETF Managers Group LLC now owns 2,456,921 shares of the biopharmaceutical company’s stock valued at $14,496,000 after acquiring an additional 2,229,245 shares during the last quarter. IFP Advisors Inc raised its stake in shares of Corbus Pharmaceuticals by 33.9% in the first quarter. IFP Advisors Inc now owns 1,340,555 shares of the biopharmaceutical company’s stock valued at $8,177,000 after acquiring an additional 339,750 shares during the last quarter. BlackRock Inc. raised its stake in shares of Corbus Pharmaceuticals by 8.6% in the second quarter. BlackRock Inc. now owns 3,963,643 shares of the biopharmaceutical company’s stock valued at $20,015,000 after acquiring an additional 315,064 shares during the last quarter. Renaissance Technologies LLC bought a new position in shares of Corbus Pharmaceuticals in the second quarter valued at approximately $842,000. Finally, Millennium Management LLC bought a new position in shares of Corbus Pharmaceuticals in the second quarter valued at approximately $772,000. Institutional investors own 42.62% of the company’s stock.
About Corbus Pharmaceuticals
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-mimetic drug to resolve chronic inflammation and fibrotic processes in systemic sclerosis, cystic fibrosis, dermatomyositis, and systemic lupus erythematosus diseases.
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