Corbus Pharmaceuticals Holdings Inc (NASDAQ:CRBP) Stock Bounces Back After Earning Update
As the earnings season continues, it is perhaps time for investors to look into some companies which have announced their financial results recently and one company that you could look into is Corbus Pharmaceuticals Holdings Inc (NASDAQ:CRBP).
Market Stats
On Friday, CRBP stock closed higher by 0.95% at $1.06 with more than 2.26 million shares, compared to its average volume of 984K shares. The stock has moved within a range of $1.0300 – 1.1000 after opening trading at $1.04.
Earnings In Focus
Over the course of the past month, the stock seems to have been in some focus among investors and has delivered gains of as much as 4%. However, this past Friday, Corbus was in the news after the immunology firm announced its financial results for the quarter of the year. It might be the right idea to look into some of the highlights today.
The company managed to bring in revenues of as much as $97,000 from awards as well as licenses. However, at the same time, it should be noted that it reflected a significant decline from the $1,231,000 that it had generated in the year ago period.
However, on the other hand, the operating expenses for the quarter stood at $21.2 million and that reflected a significant decline from the $14 million in operating expenses in the year ago period. It is now going to be interesting to see if the Corbus Pharmaceuticals Holdings Inc stock comes into focus among investors this week.
Key Quote
Yuval Cohen, Ph.D., Chief Executive Officer said, “The third quarter was productive for Corbus as we advanced our lead programs toward the clinic. It is exciting to see the developments in integrin biology and begin to appreciate the potential impact of our program. We have the operating capabilities in place and are in a strong financial position to execute our strategy to progress our diversified pipeline.”
Traders Corner
CRBP stock is trading above the 50-Day and 20-Day Moving averages of $1.06 and $1.04 respectively. However, the stock is trading below the 200-Day moving average of $1.67. The stock is up 4% in the past month.
