Corbus Pharmaceuticals (CRBP) Posts Earnings Results, Misses Estimates By $0.05 EPS
Corbus Pharmaceuticals (NASDAQ:CRBP) posted its quarterly earnings results on Thursday. The biopharmaceutical company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.05), MarketWatch Earnings reports. The firm had revenue of $1.09 million during the quarter, compared to analyst estimates of $1.66 million.
Shares of NASDAQ CRBP traded down $0.26 during mid-day trading on Friday, reaching $6.61. 942,460 shares of the company were exchanged, compared to its average volume of 1,131,068. The stock has a market capitalization of $435.91 million, a P/E ratio of -10.17 and a beta of 2.16. Corbus Pharmaceuticals has a 1 year low of $4.50 and a 1 year high of $9.95.
Several hedge funds and other institutional investors have recently modified their holdings of CRBP. Fox Run Management L.L.C. purchased a new stake in shares of Corbus Pharmaceuticals during the 2nd quarter worth $144,000. Cambridge Investment Research Advisors Inc. lifted its stake 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 during the last quarter. Royal Bank of Canada lifted its stake 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 purchasing an additional 50,133 shares during the last quarter. Trexquant Investment LP purchased a new stake in shares of Corbus Pharmaceuticals during the 3rd quarter worth $321,000. Finally, Alliancebernstein L.P. lifted its stake 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 purchasing an additional 21,100 shares during the last quarter. Hedge funds and other institutional investors own 42.69% of the company’s stock.
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Corbus Pharmaceuticals Company Profile
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.
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