Corbus Pharmaceuticals Target of Unusually High Options Trading (NASDAQ:CRBP)

Corbus Pharmaceuticals Holdings Inc (NASDAQ:CRBP) was the recipient of unusually large options trading activity on Thursday. Stock traders acquired 2,593 call options on the company. This represents an increase of approximately 300% compared to the average volume of 648 call options.

CRBP stock opened at $5.58 on Friday. The firm has a market cap of $344.33 million, a PE ratio of -4.94 and a beta of 1.79. The company has a debt-to-equity ratio of 1.31, a quick ratio of 1.09 and a current ratio of 1.09. The firm’s fifty day moving average is $5.08 and its 200 day moving average is $5.29. Corbus Pharmaceuticals has a one year low of $3.29 and a one year high of $8.09.

Corbus Pharmaceuticals (NASDAQ:CRBP) last released its quarterly earnings results on Thursday, March 12th. The biopharmaceutical company reported ($0.41) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.36) by ($0.05). The firm had revenue of $2.57 million for the quarter, compared to analyst estimates of $4.64 million. Corbus Pharmaceuticals had a negative net margin of 197.69% and a negative return on equity of 227.79%. Research analysts predict that Corbus Pharmaceuticals will post -1.76 earnings per share for the current fiscal year.

In other Corbus Pharmaceuticals news, insider Barbara White acquired 15,606 shares of the business’s stock in a transaction dated Tuesday, March 17th. The shares were purchased at an average price of $3.82 per share, for a total transaction of $59,614.92. 8.20% of the stock is owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the stock. Virtu Financial LLC purchased a new position in Corbus Pharmaceuticals during the fourth quarter valued at $97,000. Bank of Montreal Can lifted its holdings in Corbus Pharmaceuticals by 16.6% during the fourth quarter. Bank of Montreal Can now owns 20,066 shares of the biopharmaceutical company’s stock valued at $110,000 after purchasing an additional 2,861 shares in the last quarter. Omnia Family Wealth LLC purchased a new position in Corbus Pharmaceuticals during the fourth quarter valued at $119,000. Squarepoint Ops LLC purchased a new position in Corbus Pharmaceuticals during the third quarter valued at $127,000. Finally, California Public Employees Retirement System lifted its holdings in Corbus Pharmaceuticals by 40.5% during the third quarter. California Public Employees Retirement System now owns 28,676 shares of the biopharmaceutical company’s stock valued at $140,000 after purchasing an additional 8,270 shares in the last quarter. Institutional investors own 47.68% of the company’s stock.

Several research firms recently commented on CRBP. ValuEngine lowered shares of Corbus Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 28th. Nomura began coverage on shares of Corbus Pharmaceuticals in a research report on Thursday. They set a “buy” rating and a $112.00 price target on the stock. BidaskClub lowered shares of Corbus Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Saturday, February 22nd. Zacks Investment Research lowered shares of Corbus Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Wednesday, March 18th. Finally, HC Wainwright restated a “buy” rating and set a $24.00 price target on shares of Corbus Pharmaceuticals in a research report on Monday, December 23rd. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $36.40.

Corbus Pharmaceuticals Company Profile

Corbus Pharmaceuticals Holdings, Inc, a clinical-stage pharmaceutical company, focuses on the development and commercialization of various therapeutics to treat rare, chronic, and serious inflammatory and fibrotic diseases. Its lead product candidate is lenabasum, a synthetic oral endocannabinoid drug that is in Phase 3 clinical trial for the treatment of systemic sclerosis and dermatomyositis, and in Phase 2 clinical trial to treat systemic lupus erythematosus and cystic fibrosis.

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