Corbus Pharmaceuticals (NASDAQ:CRBP) Coverage Initiated at StockNews.com

Investment analysts at StockNews.com initiated coverage on shares of Corbus Pharmaceuticals (NASDAQ:CRBPGet Rating) in a report released on Thursday. The firm set a “hold” rating on the biopharmaceutical company’s stock.

Corbus Pharmaceuticals Stock Performance

Corbus Pharmaceuticals stock opened at $0.26 on Thursday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 5.85 and a current ratio of 5.85. Corbus Pharmaceuticals has a 1 year low of $0.21 and a 1 year high of $1.42. The firm’s 50 day moving average price is $0.28 and its two-hundred day moving average price is $0.35.

Corbus Pharmaceuticals (NASDAQ:CRBPGet Rating) last posted its quarterly earnings results on Tuesday, May 10th. The biopharmaceutical company reported ($0.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.01. Sell-side analysts forecast that Corbus Pharmaceuticals will post -0.24 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Corbus Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. grew its position in Corbus Pharmaceuticals by 27.5% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 115,919 shares of the biopharmaceutical company’s stock worth $71,000 after purchasing an additional 25,000 shares in the last quarter. Acadian Asset Management LLC purchased a new position in Corbus Pharmaceuticals during the 4th quarter worth approximately $112,000. Vident Investment Advisory LLC grew its position in Corbus Pharmaceuticals by 66.2% during the 1st quarter. Vident Investment Advisory LLC now owns 255,146 shares of the biopharmaceutical company’s stock worth $135,000 after purchasing an additional 101,659 shares in the last quarter. Davy Global Fund Management Ltd grew its position in Corbus Pharmaceuticals by 10.0% during the 4th quarter. Davy Global Fund Management Ltd now owns 318,668 shares of the biopharmaceutical company’s stock worth $196,000 after purchasing an additional 29,041 shares in the last quarter. Finally, State Street Corp grew its position in Corbus Pharmaceuticals by 10.7% during the 1st quarter. State Street Corp now owns 395,513 shares of the biopharmaceutical company’s stock worth $210,000 after purchasing an additional 38,304 shares in the last quarter. 35.61% of the stock is currently owned by hedge funds and other institutional investors.

About Corbus Pharmaceuticals

(Get Rating)

Corbus Pharmaceuticals Holdings, Inc, a biopharmaceutical company, focuses on the development of immune modulators for immuno-oncology and fibrosis diseases. It develops lenabasum, an oral molecule that selectively activates cannabinoid receptor type 2 (CB2), which is in Phase II clinical trial to treat systemic lupus erythematosus; CRB-601, an anti-integrin monoclonal antibody (mAb) for the treatment of cancer and fibrosis that inhibits the activation of transforming growth factor ß (TGFß); and CRB-602, an anti-avß6/avß8 mAb that blocks the activation of TGFß for the treatment of fibrotic diseases.

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