Corbus Pharmaceuticals (NASDAQ:CRBP) released its quarterly earnings data on Thursday. The biopharmaceutical company reported $0.03 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.22) by $0.25, Morningstar.com reports. The firm had revenue of $29.10 million for the quarter, compared to the consensus estimate of $10.32 million. Corbus Pharmaceuticals had a negative return on equity of 149.05% and a negative net margin of 164.68%.
Shares of NASDAQ CRBP traded up $0.13 during trading hours on Friday, hitting $5.88. The company’s stock had a trading volume of 1,030,912 shares, compared to its average volume of 573,368. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.78 and a current ratio of 1.78. The stock has a market capitalization of $370.62 million, a PE ratio of -6.00 and a beta of 1.84. Corbus Pharmaceuticals has a 12 month low of $4.65 and a 12 month high of $9.11. The stock has a 50-day moving average price of $6.43.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. grew its stake in shares of Corbus Pharmaceuticals by 10.7% in the second quarter. Charles Schwab Investment Management Inc. now owns 137,415 shares of the biopharmaceutical company’s stock worth $953,000 after purchasing an additional 13,312 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Corbus Pharmaceuticals by 56.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 19,272 shares of the biopharmaceutical company’s stock valued at $132,000 after acquiring an additional 6,922 shares in the last quarter. Wells Fargo & Company MN boosted its position in Corbus Pharmaceuticals by 7.1% during the 2nd quarter. Wells Fargo & Company MN now owns 103,549 shares of the biopharmaceutical company’s stock valued at $717,000 after acquiring an additional 6,820 shares in the last quarter. Aperio Group LLC bought a new stake in Corbus Pharmaceuticals during the 2nd quarter valued at approximately $29,000. Finally, AE Wealth Management LLC bought a new stake in Corbus Pharmaceuticals during the 2nd quarter valued at approximately $755,000. 36.85% of the stock is currently 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 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.
Recommended Story: Risk Tolerance
Receive News & Ratings for Corbus Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Corbus Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.