Corbus Pharmaceuticals' (CRBP) Buy Rating Reiterated at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Corbus Pharmaceuticals (NASDAQ:CRBP - Free Report) in a report issued on Monday,Benzinga reports. HC Wainwright currently has a $75.00 price objective on the biopharmaceutical company's stock, down from their previous price objective of $80.00.

CRBP has been the subject of several other research reports. StockNews.com raised Corbus Pharmaceuticals to a "sell" rating in a report on Monday, January 13th. Piper Sandler initiated coverage on shares of Corbus Pharmaceuticals in a research note on Monday, December 2nd. They issued an "overweight" rating and a $35.00 price target on the stock. Finally, Wedbush restated an "outperform" rating and set a $51.00 price objective on shares of Corbus Pharmaceuticals in a research report on Monday, November 4th. One investment analyst has rated the stock with a sell rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $61.38.

Corbus Pharmaceuticals Trading Down 8.8 %

Shares of CRBP traded down $0.86 during mid-day trading on Monday, reaching $8.92. The company's stock had a trading volume of 252,409 shares, compared to its average volume of 218,066. Corbus Pharmaceuticals has a 1-year low of $8.85 and a 1-year high of $61.90. The business has a 50-day simple moving average of $12.49 and a two-hundred day simple moving average of $26.68. The stock has a market cap of $108.66 million, a P/E ratio of -1.90 and a beta of 2.63.

Institutional Investors Weigh In On Corbus Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in CRBP. JPMorgan Chase & Co. increased its stake in Corbus Pharmaceuticals by 27.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,507 shares of the biopharmaceutical company's stock worth $114,000 after acquiring an additional 1,172 shares during the period. The Manufacturers Life Insurance Company increased its position 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 purchasing an additional 1,600 shares during the period. FMR LLC raised its stake in Corbus Pharmaceuticals by 33.0% in the third quarter. FMR LLC now owns 10,028 shares of the biopharmaceutical company's stock valued at $207,000 after purchasing an additional 2,486 shares in the last quarter. Vestcor Inc bought a new stake in Corbus Pharmaceuticals during the third quarter worth about $64,000. Finally, Charles Schwab Investment Management Inc. grew its stake in Corbus Pharmaceuticals by 4.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 97,882 shares of the biopharmaceutical company's stock worth $1,155,000 after buying an additional 4,239 shares in the last quarter. 64.64% 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, a peripherally restricted cannabinoid type-1 (CB1) receptor inverse agonist for the treatment of obesity.