Equities research analysts at StockNews.com initiated coverage on shares of Corbus Pharmaceuticals (NASDAQ:CRBP – Get Free Report) 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 %
Corbus Pharmaceuticals (NASDAQ:CRBP – Get Free Report) 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.
- Five stocks we like better than Corbus Pharmaceuticals
- Want to Profit on the Downtrend? Downtrends, Explained.
- These 5 small-cap impact stocks are making social change
- Insider Trading – What You Need to Know
- Alphabet slays its earnings but falls on its sword with cloud
- How and Why to Invest in Oil Stocks
- There’s nothing artificial about NVIDIA’s relationship with AI
Receive News & Ratings for Corbus Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Corbus Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.