Corbus Pharmaceuticals Holdings Inc. (NASDAQ: CRBP): Stock That Needs Special Handling


    BlackRock Fund Advisors recently announced the acquisition of new stake in Corbus Pharmaceuticals Holdings Inc. (NASDAQ:CRBP). The institutional investor has increased its shareholding in the Healthcare company by 7.20% to 4.63 million shares with purchase of 0.31 million shares. This fresh investment now brings its stake to 6.38% valued currently at $38.82 million. In addition, ETF Managers Group LLC raised its holdings by 64073.0 to 3.63 million shares. And The Vanguard Group, Inc. has lifted its position by 9.50% or 0.29 million shares – to 3.4 million shares.

    With over 1.93 million Corbus Pharmaceuticals Holdings Inc. (CRBP) shares trading Friday and a closing price of $6.91 on the day, the dollar volume was approximately $13.32 million. The shares have shown a negative weekly performance of 0.00% and its price on 07/24/20 gained nearly 1.62%. Currently, there are 69.27M common shares owned by the public and among those 63.84M shares have been available to trade.

    An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 7 analysts who have offered their price forecasts for CRBP have a consensus price objective of $25.71. The analysts have set the share’s price value over the next 12 months at a high of $40.00 and a low of $17.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Corbus Pharmaceuticals Holdings Inc. stock is 1.60 for the next 12 months. But an upside of 82.73% will see the stock hit the forecast high price target while mean target price for the stock is $24.00.

    Insiders at the company have transacted a total of 13 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 13 of these insider trades were purchases, accounting for 53,914 shares. Insider sales of the common stock occurred on 0 occasions, with total insider shares sold totaling 0 shares.

    The top 3 mutual fund holders in Corbus Pharmaceuticals Holdings Inc. are ETFMG Alternative Harvest ETF, SPDR S&P Biotech ETF, and Vanguard Total Stock Market Index. ETFMG Alternative Harvest ETF owns 3.72 million shares of the company’s stock, all valued at over $31.22 million. SPDR S&P Biotech ETF bought 39775.0 shares to see its total holdings expand to 1.94 million shares valued at over $16.28 million and representing 2.68% of the shares outstanding. Vanguard Total Stock Market Index sold 30176.0 shares to bring its total holdings to over 1.93 million shares at a value of $16.21 million. Vanguard Total Stock Market Index now owns shares totaling to 2.67% of the shares outstanding.

    Shares of Corbus Pharmaceuticals Holdings Inc. (NASDAQ: CRBP) opened at $6.79, down -$0.01 from a prior closing price of $6.80. However, the script later closed the day at $6.91, up 1.62%. The company’s stock has a 5-day price change of 0.00% and 15.75% over the past three months. CRBP shares are trading 26.56% year to date (YTD), with the 12-month market performance up to 14.98% higher. It has a 12-month low price of $3.29 and touched a high of $8.78 over the same period. Currently, 1.93 million shares have been traded, compared to an average intraday trading volume of 1.42 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -7.92%, -6.65%, and 16.87% respectively.

    Institutional ownership of Corbus Pharmaceuticals Holdings Inc. (NASDAQ: CRBP) shares accounts for 51.00% of the company’s 69.27M shares outstanding. Mutual fund holders own 22.73%, while other institutional holders and individual stakeholders account for 27.90% and 13.70% respectively.

    It has a market capitalization of $503.81M and a beta (3y monthly) value of 1.40. The earnings-per-share (ttm) stands at -$1.13. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.79% over the week and 5.50% over the month.

    Analysts forecast that Corbus Pharmaceuticals Holdings Inc. (CRBP) will achieve an EPS of -$0.39 for the current quarter, -$0.38 for the next quarter and -$1.6 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.46 while analysts give the company a high EPS estimate of -$0.32. Comparatively, EPS for the current quarter was $0.03 a year ago. Earnings per share for the fiscal year are expected to decrease by -14.50%, and 1.30% over the next financial year.

    If you are looking to buy this stock, then you may note that the average analyst recommendation by 7 brokerage firm advisors rate Corbus Pharmaceuticals Holdings Inc. (CRBP) as a “Strong Buy” at a consensus score of 1.60. Specifically, 7 Wall Street analysts polled rate the stock as a buy, while 0 of the 7 advise that investors “hold,” and 0 rated it as a “Sell.”

    Looking at the support for the CRBP, a number of firms have released research notes about the stock. ROTH Capital stated their Buy rating for the stock in a research note on July 07, 2020, with the firm’s price target at $40. BTIG Research coverage for the Corbus Pharmaceuticals Holdings Inc. (CRBP) stock in a research note released on June 17, 2020 offered a Buy rating with a price target of $22. Nomura was of a view on March 26, 2020 that the stock is Buy, while Jefferies gave the stock Buy rating on April 05, 2019, issuing a price target of . Oppenheimer on their part issued Outperform rating on March 20, 2019.


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