StockNews.com Upgrades Corbus Pharmaceuticals (NASDAQ:CRBP) to Sell

StockNews.com upgraded shares of Corbus Pharmaceuticals (NASDAQ:CRBP - Free Report) to a sell rating in a research report sent to investors on Thursday.

Several other equities research analysts also recently weighed in on the company. Piper Sandler initiated coverage on Corbus Pharmaceuticals in a report on Monday, December 2nd. They set an "overweight" rating and a $35.00 price objective on the stock. William Blair started coverage on Corbus Pharmaceuticals in a research note on Friday, February 28th. They issued 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 research note on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $63.57.

Corbus Pharmaceuticals Price Performance

Shares of CRBP stock remained flat at $6.79 during trading on Thursday. The company had a trading volume of 164,194 shares, compared to its average volume of 245,824. The company has a market cap of $82.70 million, a price-to-earnings ratio of -1.45 and a beta of 2.63. The stock's 50 day simple moving average is $9.98 and its 200-day simple moving average is $20.28. Corbus Pharmaceuticals has a fifty-two week low of $6.54 and a fifty-two week high of $61.90.

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Hedge Funds Weigh In On Corbus Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of CRBP. Vestcor Inc purchased a new stake in Corbus Pharmaceuticals in the third quarter worth about $64,000. JPMorgan Chase & Co. lifted its position in Corbus Pharmaceuticals by 27.0% during the third quarter. JPMorgan Chase & Co. now owns 5,507 shares of the biopharmaceutical company's stock valued at $114,000 after purchasing an additional 1,172 shares during the last quarter. MetLife Investment Management LLC bought a new stake in Corbus Pharmaceuticals during the third quarter worth approximately $123,000. Wells Fargo & Company MN lifted its position in 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. Finally, Avanza Fonder AB purchased a new position in shares of Corbus Pharmaceuticals during the 4th quarter worth about $84,000. 64.64% of the stock is owned by institutional investors.

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.