Corbus Pharmaceuticals (NASDAQ:CRBP) Now Covered by StockNews.com

Equities research analysts at StockNews.com initiated coverage on shares of Corbus Pharmaceuticals (NASDAQ:CRBP) in a research report issued to clients and investors on Tuesday. The firm set a “hold” rating on the biopharmaceutical company’s stock.

Separately, Oppenheimer restated an “outperform” rating and set a $22.00 price objective on shares of Corbus Pharmaceuticals in a research report on Wednesday, August 9th.

Corbus Pharmaceuticals Stock Down 3.6 %

CRBP opened at $5.04 on Tuesday. The company has a debt-to-equity ratio of 1.19, a quick ratio of 2.34 and a current ratio of 2.34. The stock has a market capitalization of $22.28 million, a price-to-earnings ratio of -0.46 and a beta of 2.33. The company has a fifty day moving average of $6.29 and a two-hundred day moving average of $7.50. Corbus Pharmaceuticals has a fifty-two week low of $2.11 and a fifty-two week high of $13.17.

Corbus Pharmaceuticals (NASDAQ:CRBP) last posted its quarterly earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($2.05) EPS for the quarter, topping the consensus estimate of ($3.10) by $1.05. On average, research analysts expect that Corbus Pharmaceuticals will post -11.52 earnings per share for the current year.

Institutional Investors Weigh In On Corbus Pharmaceuticals

Several hedge funds have recently modified their holdings of CRBP. Renaissance Technologies LLC boosted its stake in shares of Corbus Pharmaceuticals by 371.0% during the 1st 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 last quarter. Two Sigma Investments LP boosted its stake in shares of Corbus Pharmaceuticals by 366.7% during the 4th quarter. Two Sigma Investments LP now owns 570,168 shares of the biopharmaceutical company’s stock worth $63,000 after purchasing an additional 448,002 shares during the last quarter. Sio Capital Management LLC acquired a new stake in shares of Corbus Pharmaceuticals during the 1st quarter worth about $1,090,000. Vident Investment Advisory LLC boosted its position in shares of Corbus Pharmaceuticals by 66.2% in 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 during the last quarter. Finally, State Street Corp boosted its position in shares of Corbus Pharmaceuticals by 10.7% in 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 during the last quarter. 16.73% of the stock is owned by institutional investors and hedge funds.

About Corbus Pharmaceuticals

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, an endocannabinoid small molecule drug for the treatment of obesity and related metabolic diseases; and lenabasum, an oral molecule that selectively activates cannabinoid receptor type 2 (CB2), which is in Phase II clinical trial or the treatment of inflammation and fibrosis.