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

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

Separately, Oppenheimer reiterated an “outperform” rating and issued a $22.00 price target on shares of Corbus Pharmaceuticals in a research note on Wednesday, August 9th.

Corbus Pharmaceuticals Price Performance

Shares of NASDAQ:CRBP opened at $3.87 on Wednesday. The business’s 50 day simple moving average is $5.89 and its 200 day simple moving average is $7.29. Corbus Pharmaceuticals has a 1 year low of $2.11 and a 1 year high of $13.17. The company has a market capitalization of $17.11 million, a P/E ratio of -0.35 and a beta of 2.33.

Institutional Trading of Corbus Pharmaceuticals

A number of institutional investors and hedge funds have recently bought and sold shares of CRBP. Renaissance Technologies LLC increased its holdings in Corbus Pharmaceuticals by 371.0% in the first quarter. Renaissance Technologies LLC now owns 1,157,191 shares of the biopharmaceutical company’s stock valued at $615,000 after purchasing an additional 911,491 shares during the period. Two Sigma Investments LP grew its stake in shares of Corbus Pharmaceuticals by 366.7% in the 4th quarter. Two Sigma Investments LP now owns 570,168 shares of the biopharmaceutical company’s stock valued at $63,000 after buying an additional 448,002 shares during the period. Sio Capital Management LLC acquired a new stake in shares of Corbus Pharmaceuticals in the 1st quarter valued at about $1,090,000. Vident Investment Advisory LLC grew its stake in shares of Corbus Pharmaceuticals by 66.2% in the 1st quarter. Vident Investment Advisory LLC now owns 255,146 shares of the biopharmaceutical company’s stock valued at $135,000 after buying an additional 101,659 shares during the period. Finally, State Street Corp grew its stake in shares of Corbus Pharmaceuticals by 10.7% in the 1st quarter. State Street Corp now owns 395,513 shares of the biopharmaceutical company’s stock valued at $210,000 after buying an additional 38,304 shares during the period. 16.73% of the stock is currently 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.