Corbus Pharmaceuticals (NASDAQ:CRBP) Upgraded by StockNews.com to Sell Rating

StockNews.com upgraded shares of Corbus Pharmaceuticals (NASDAQ:CRBP) to a sell rating in a research report released on Thursday.

A number of other analysts have also weighed in on CRBP. Piper Sandler started coverage on shares of Corbus Pharmaceuticals in a research note on Monday, December 2nd. They set an “overweight” rating and a $35.00 price objective for the company. William Blair began coverage on shares of Corbus Pharmaceuticals in a report on Friday, February 28th. They set an “outperform” rating on the stock. Finally, HC Wainwright reaffirmed a “buy” rating and set a $75.00 price target on shares of Corbus Pharmaceuticals in a report on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Corbus Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average target price of $63.57.

Corbus Pharmaceuticals Stock Performance

NASDAQ:CRBP opened at $6.97 on Thursday. The firm has a market cap of $84.89 million, a P/E ratio of -1.49 and a beta of 2.63. Corbus Pharmaceuticals has a fifty-two week low of $6.54 and a fifty-two week high of $61.90. The firm has a 50-day simple moving average of $10.09 and a two-hundred day simple moving average of $21.18.

Hedge Funds Weigh In On Corbus Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. boosted its holdings in shares of Corbus Pharmaceuticals by 27.0% in the third quarter. JPMorgan Chase & Co. now owns 5,507 shares of the biopharmaceutical company’s stock worth $114,000 after buying an additional 1,172 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Corbus Pharmaceuticals by 7.6% in the third quarter. The Manufacturers Life Insurance Company now owns 22,731 shares of the biopharmaceutical company’s stock worth $469,000 after buying an additional 1,600 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in shares of Corbus Pharmaceuticals by 51.7% in the fourth quarter. Wells Fargo & Company MN now owns 6,444 shares of the biopharmaceutical company’s stock worth $76,000 after buying an additional 2,195 shares during the last quarter. FMR LLC boosted its holdings in shares of Corbus Pharmaceuticals by 33.0% in the third quarter. FMR LLC now owns 10,028 shares of the biopharmaceutical company’s stock worth $207,000 after buying an additional 2,486 shares during the last quarter. Finally, Deutsche Bank AG boosted its holdings in shares of Corbus Pharmaceuticals by 46.8% in the fourth quarter. Deutsche Bank AG now owns 8,206 shares of the biopharmaceutical company’s stock worth $97,000 after buying an additional 2,616 shares during the last quarter. Hedge funds and other institutional investors own 64.64% of the company’s stock.

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, a peripherally restricted cannabinoid type-1 (CB1) receptor inverse agonist for the treatment of obesity.