Home / Healthcare / Health Care Sector Feels Weight of 5.94% Slide in Early Trading of Corbus Pharmaceuticals Holdings Inc. (CRBP) on September 23

Health Care Sector Feels Weight of 5.94% Slide in Early Trading of Corbus Pharmaceuticals Holdings Inc. (CRBP) on September 23

Corbus Pharmaceuticals Holdings Inc. (CRBP) started the trading day on a down note, making it one of the worst performing stocks in the health care sector of NYSE and NASDAQ listed companies shortly after the opening bell on September 23. Shares of CRBP have fallen 5.94% about 30 minutes into the session to $6.57 after closing the day prior at $6.98. It’s early, but the stock has traded as high as $6.96 and as low as $6.4 so far. Today’s quick decline has come with about 315,820 shares changing hands, compared to an average 30-day volume of 1.11 million for Corbus Pharmaceuticals Holdings Inc.. The price is currently below the 30-day volume weighted average price of $6.65 for CRBP.

The share depreciation gives the company a market capitalization of $305.36 million based upon 43.75 million shares outstanding. It also means that CRBP has a price-to-book ratio of 17.3:1.

In the past 52 weeks, shares of CRBP have traded as low as $1.01 and as high as $7.88. Technical traders will take note that at $6.57, shares of CRBP are trading above their 200-day MA at $2.55 and above their 50-day MA at $4.04. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move through or holding below them is typically regarded as bearish.

Who is CRBP?

Corbus Pharmaceuticals Holdings Inc is a clinical stage biopharmaceutical company. The Company is focused on the development and commercialization of novel therapeutics to treat rare, life-threating inflammatory-fibrotic diseases. The company’s 12 employees are led by CEO Yuval Cohen from the corporate headquarters at 100 River Ridge Drive in Norwood, MA.


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