Corbus Pharmaceuticals (NASDAQ:CRBP) Coverage Initiated by Analysts at StockNews.com

StockNews.com assumed coverage on shares of Corbus Pharmaceuticals (NASDAQ:CRBPGet Rating) in a research report released on Thursday morning. The brokerage issued a hold rating on the biopharmaceutical company’s stock.

Corbus Pharmaceuticals Stock Performance

Shares of CRBP opened at $0.12 on Thursday. Corbus Pharmaceuticals has a 52 week low of $0.10 and a 52 week high of $0.93. The stock has a market cap of $14.41 million, a P/E ratio of -0.34 and a beta of 1.82. The business’s 50 day moving average price is $0.14 and its 200-day moving average price is $0.22. The company has a quick ratio of 3.86, a current ratio of 3.86 and a debt-to-equity ratio of 0.22.

Hedge Funds Weigh In On Corbus Pharmaceuticals

Hedge funds have recently added to or reduced their stakes in the company. ExodusPoint Capital Management LP purchased a new stake in Corbus Pharmaceuticals during the 3rd quarter valued at $60,000. Vident Investment Advisory LLC raised its stake in Corbus Pharmaceuticals by 66.2% during the 1st quarter. Vident Investment Advisory LLC now owns 255,146 shares of the biopharmaceutical company’s stock valued at $135,000 after buying an additional 101,659 shares during the last quarter. State Street Corp raised its stake in Corbus Pharmaceuticals by 10.7% during the 1st quarter. State Street Corp now owns 395,513 shares of the biopharmaceutical company’s stock valued at $210,000 after buying an additional 38,304 shares during the last quarter. GSA Capital Partners LLP purchased a new stake in Corbus Pharmaceuticals during the 1st quarter valued at $275,000. Finally, Renaissance Technologies LLC raised its stake in Corbus Pharmaceuticals by 40.6% during the 2nd quarter. Renaissance Technologies LLC now owns 1,626,860 shares of the biopharmaceutical company’s stock valued at $410,000 after buying an additional 469,669 shares during the last quarter. 25.40% of the stock is currently owned by hedge funds and other institutional investors.

About Corbus Pharmaceuticals

(Get Rating)

Corbus Pharmaceuticals Holdings, Inc, a biopharmaceutical company, focuses on the development of immune modulators for immuno-oncology and fibrosis diseases. It develops lenabasum, an oral molecule that selectively activates cannabinoid receptor type 2 (CB2), which is in Phase II clinical trial to treat systemic lupus erythematosus; CRB-601, an anti-integrin monoclonal antibody (mAb) for the treatment of cancer and fibrosis that inhibits the activation of transforming growth factor ß (TGFß); and CRB-602, an anti-avß6/avß8 mAb that blocks the activation of TGFß for the treatment of fibrotic diseases.

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