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

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Corbus Pharmaceuticals Holdings Inc (NASDAQ:CRBP) was the recipient of some unusual options trading activity on Thursday. Stock traders purchased 2,593 call options on the stock. This represents an increase of 300% compared to the average daily volume of 648 call options.

In other Corbus Pharmaceuticals news, insider Barbara White bought 15,606 shares of the stock in a transaction dated Tuesday, March 17th. The stock was purchased at an average cost of $3.82 per share, for a total transaction of $59,614.92. 8.20% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in CRBP. California Public Employees Retirement System lifted its stake in shares of Corbus Pharmaceuticals by 40.5% during the 3rd quarter. California Public Employees Retirement System now owns 28,676 shares of the biopharmaceutical company’s stock valued at $140,000 after buying an additional 8,270 shares in the last quarter. Russell Investments Group Ltd. bought a new position in Corbus Pharmaceuticals during the 3rd quarter valued at about $1,062,000. State Street Corp grew its holdings in Corbus Pharmaceuticals by 5.6% during the 3rd quarter. State Street Corp now owns 1,099,507 shares of the biopharmaceutical company’s stock valued at $5,355,000 after purchasing an additional 58,547 shares during the last quarter. Squarepoint Ops LLC bought a new position in Corbus Pharmaceuticals during the 3rd quarter valued at about $127,000. Finally, Aries Wealth Management grew its holdings in Corbus Pharmaceuticals by 9.8% during the 4th quarter. Aries Wealth Management now owns 27,900 shares of the biopharmaceutical company’s stock valued at $160,000 after purchasing an additional 2,500 shares during the last quarter. Institutional investors own 47.68% of the company’s stock.

A number of equities research analysts have commented on the stock. Zacks Investment Research downgraded shares of Corbus Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Wednesday, March 18th. HC Wainwright reissued a “buy” rating and set a $24.00 price objective on shares of Corbus Pharmaceuticals in a research report on Monday, December 23rd. BidaskClub downgraded shares of Corbus Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Saturday, February 22nd. Nomura assumed coverage on shares of Corbus Pharmaceuticals in a research report on Thursday. They set a “buy” rating and a $112.00 price objective for the company. Finally, ValuEngine downgraded shares of Corbus Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 28th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Corbus Pharmaceuticals has an average rating of “Buy” and an average target price of $36.40.

Shares of CRBP stock opened at $5.58 on Friday. Corbus Pharmaceuticals has a 1 year low of $3.29 and a 1 year high of $8.09. The firm has a fifty day moving average price of $5.08 and a 200-day moving average price of $5.29. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.09 and a quick ratio of 1.09. The company has a market cap of $344.33 million, a price-to-earnings ratio of -4.94 and a beta of 1.79.

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

About Corbus Pharmaceuticals

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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