Traders Buy Large Volume of Call Options on Corbus Pharmaceuticals (CRBP)

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Corbus Pharmaceuticals Holdings Inc (NASDAQ:CRBP) was the target of some unusual options trading activity on Thursday. Stock traders bought 11,417 call options on the stock. This is an increase of 12,176% compared to the average daily volume of 93 call options.

Several analysts have commented on the stock. BidaskClub raised shares of Corbus Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Tuesday, July 10th. ValuEngine lowered shares of Corbus Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Friday, August 10th. Finally, Cantor Fitzgerald set a $32.00 price target on shares of Corbus Pharmaceuticals and gave the company a “buy” rating in a research report on Wednesday, July 25th. One analyst has rated the stock with a sell rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $26.67.

Shares of Corbus Pharmaceuticals stock traded up $0.18 during midday trading on Friday, hitting $6.74. The company had a trading volume of 1,162,400 shares, compared to its average volume of 867,378. The firm has a market capitalization of $431.91 million, a P/E ratio of -10.37 and a beta of 2.17. Corbus Pharmaceuticals has a 12-month low of $4.50 and a 12-month high of $9.95.

Corbus Pharmaceuticals (NASDAQ:CRBP) last announced its quarterly earnings data on Wednesday, August 8th. The biopharmaceutical company reported ($0.21) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.22) by $0.01. The company had revenue of $0.85 million during the quarter, compared to analysts’ expectations of $1.90 million. As a group, analysts anticipate that Corbus Pharmaceuticals will post -0.84 EPS for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. raised its position in Corbus Pharmaceuticals by 8.6% during the 2nd quarter. BlackRock Inc. now owns 3,963,643 shares of the biopharmaceutical company’s stock worth $20,015,000 after buying an additional 315,064 shares during the last quarter. ETF Managers Group LLC raised its position in Corbus Pharmaceuticals by 979.1% during the 1st quarter. ETF Managers Group LLC now owns 2,456,921 shares of the biopharmaceutical company’s stock worth $14,496,000 after buying an additional 2,229,245 shares during the last quarter. IFP Advisors Inc raised its position in Corbus Pharmaceuticals by 12.0% during the 2nd quarter. IFP Advisors Inc now owns 1,500,805 shares of the biopharmaceutical company’s stock worth $7,579,000 after buying an additional 160,250 shares during the last quarter. Northern Trust Corp raised its position in Corbus Pharmaceuticals by 7.6% during the 2nd quarter. Northern Trust Corp now owns 572,325 shares of the biopharmaceutical company’s stock worth $2,890,000 after buying an additional 40,356 shares during the last quarter. Finally, Renaissance Technologies LLC purchased a new position in Corbus Pharmaceuticals during the 2nd quarter worth approximately $842,000. 42.62% of the stock is owned by institutional investors.

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-mimetic drug to resolve chronic inflammation and fibrotic processes in systemic sclerosis, cystic fibrosis, dermatomyositis, and systemic lupus erythematosus diseases.

Read More: Initial Public Offering (IPO)

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