Corbus Pharmaceuticals (NASDAQ:CRBP) Share Price Passes Below 50-Day Moving Average - Should You Sell?

Shares of Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP - Get Free Report) passed below its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $39.49 and traded as low as $17.30. Corbus Pharmaceuticals shares last traded at $17.67, with a volume of 597,753 shares traded.

Analysts Set New Price Targets

CRBP has been the topic of several research reports. StockNews.com cut shares of Corbus Pharmaceuticals from a "hold" rating to a "sell" rating in a report on Saturday, August 10th. Mizuho reiterated an "outperform" rating and set a $74.00 price target on shares of Corbus Pharmaceuticals in a research note on Friday, September 20th. Oppenheimer lifted their price target on shares of Corbus Pharmaceuticals from $80.00 to $88.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 7th. Wedbush dropped their price target on shares of Corbus Pharmaceuticals from $85.00 to $51.00 and set an "outperform" rating on the stock in a research note on Friday, September 20th. Finally, Royal Bank of Canada reiterated an "outperform" rating and set a $82.00 price target on shares of Corbus Pharmaceuticals in a research note on Friday, September 20th. One equities research analyst has rated the stock with a sell rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $65.86.

Corbus Pharmaceuticals Stock Performance

The stock has a market capitalization of $186.60 million, a P/E ratio of -2.51 and a beta of 2.53. The company's 50-day moving average price is $38.78 and its 200 day moving average price is $43.90.

Corbus Pharmaceuticals (NASDAQ:CRBP - Get Free Report) last announced its quarterly earnings results on Tuesday, August 6th. The biopharmaceutical company reported ($0.90) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.19) by $0.29. Analysts predict that Corbus Pharmaceuticals Holdings, Inc. will post -3.8 earnings per share for the current year.

Insider Buying and Selling at Corbus Pharmaceuticals

In related news, major shareholder Cormorant Asset Management, Lp purchased 350,000 shares of Corbus Pharmaceuticals stock in a transaction on Friday, September 20th. The shares were bought at an average cost of $20.01 per share, for a total transaction of $7,003,500.00. Following the acquisition, the insider now owns 2,375,000 shares in the company, valued at approximately $47,523,750. The trade was a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 4.00% of the stock is currently owned by insiders.

Institutional Trading of Corbus Pharmaceuticals

A number of large investors have recently made changes to their positions in CRBP. SG Americas Securities LLC bought a new stake in shares of Corbus Pharmaceuticals in the 3rd quarter worth about $151,000. Rhumbline Advisers bought a new stake in shares of Corbus Pharmaceuticals in the 2nd quarter worth about $638,000. Acadian Asset Management LLC bought a new stake in shares of Corbus Pharmaceuticals in the 2nd quarter worth about $716,000. ClariVest Asset Management LLC bought a new stake in shares of Corbus Pharmaceuticals in the 2nd quarter worth about $725,000. Finally, Victory Capital Management Inc. bought a new stake in shares of Corbus Pharmaceuticals in the 2nd quarter worth about $862,000. 64.64% of the stock is currently owned by institutional investors.

Corbus Pharmaceuticals Company Profile

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.