Corbus Pharmaceuticals (NASDAQ:CRBP) announced its earnings results on Thursday. The biopharmaceutical company reported ($0.26) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.21) by ($0.05), MarketWatch Earnings reports. The business had revenue of $1.09 million for the quarter, compared to analysts’ expectations of $1.66 million.
Shares of NASDAQ:CRBP traded down $0.26 on Friday, reaching $6.61. 942,460 shares of the company’s stock were exchanged, compared to its average volume of 1,131,068. Corbus Pharmaceuticals has a twelve month low of $4.50 and a twelve month high of $9.95. The firm has a market cap of $435.91 million, a PE ratio of -10.17 and a beta of 2.16.
Large investors have recently made changes to their positions in the business. Fox Run Management L.L.C. acquired a new position in shares of Corbus Pharmaceuticals during the 2nd quarter worth approximately $144,000. Cambridge Investment Research Advisors Inc. grew its position in shares of Corbus Pharmaceuticals by 52.7% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 35,884 shares of the biopharmaceutical company’s stock worth $271,000 after purchasing an additional 12,380 shares in the last quarter. Trexquant Investment LP acquired a new position in shares of Corbus Pharmaceuticals during the 3rd quarter worth approximately $321,000. Royal Bank of Canada boosted its position in shares of Corbus Pharmaceuticals by 2,742.5% during the 1st quarter. Royal Bank of Canada now owns 51,961 shares of the biopharmaceutical company’s stock worth $317,000 after acquiring an additional 50,133 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its position in shares of Corbus Pharmaceuticals by 61.5% during the 3rd quarter. Alliancebernstein L.P. now owns 55,400 shares of the biopharmaceutical company’s stock worth $418,000 after acquiring an additional 21,100 shares in the last quarter. Hedge funds and other institutional investors own 42.69% of the company’s stock.
About Corbus Pharmaceuticals
Corbus Pharmaceuticals Holdings, Inc is a phase 3 clinical-stage pharmaceutical company, focused on the development and commercialization of novel therapeutics to treat rare, chronic, and serious inflammatory and fibrotic diseases. The Company’s lead product candidate, lenabasum, is a novel, synthetic oral endocannabinoid-mimetic drug designed to resolve chronic inflammation and fibrotic processes.
Further Reading: Technical Analysis
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