Key Points
- Cormorant Asset Management sold 30,029 Corbus shares on Dec. 11 at an average of $11.46 (≈$344,132), trimming its stake by 1.26% to 2,344,971 shares valued at about $26.9M.
- Corbus (NASDAQ:CRBP) opened at $9.48, trades in a 52‑week range of $4.64–$20.56 with a market cap of ~$166.4M, and recently reported quarterly EPS of ($1.90), missing estimates.
- Market sentiment is mixed but tilted positive: the consensus rating is “Moderate Buy” with an average price target of $44.38, and institutional investors hold roughly 64.6% of the stock.
Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP - Get Free Report) major shareholder Cormorant Asset Management, Lp sold 30,029 shares of the business's stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $11.46, for a total transaction of $344,132.34. Following the completion of the sale, the insider directly owned 2,344,971 shares in the company, valued at $26,873,367.66. This trade represents a 1.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Major shareholders that own at least 10% of a company's stock are required to disclose their sales and purchases with the SEC.
Corbus Pharmaceuticals Stock Performance
NASDAQ:CRBP opened at $9.48 on Tuesday. Corbus Pharmaceuticals Holdings, Inc. has a fifty-two week low of $4.64 and a fifty-two week high of $20.56. The company has a 50 day moving average price of $13.11 and a 200 day moving average price of $10.71. The stock has a market capitalization of $166.37 million, a P/E ratio of -1.72 and a beta of 2.71.
Corbus Pharmaceuticals (NASDAQ:CRBP - Get Free Report) last announced its earnings results on Wednesday, November 12th. The biopharmaceutical company reported ($1.90) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.80) by ($0.10). Research analysts forecast that Corbus Pharmaceuticals Holdings, Inc. will post -4.23 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
A number of institutional investors have recently added to or reduced their stakes in CRBP. Exome Asset Management LLC purchased a new stake in shares of Corbus Pharmaceuticals during the 1st quarter worth $1,538,000. Comerica Bank raised its stake in Corbus Pharmaceuticals by 20,000,000.0% in the first quarter. Comerica Bank now owns 200,001 shares of the biopharmaceutical company's stock valued at $1,062,000 after buying an additional 200,000 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in Corbus Pharmaceuticals during the 1st quarter worth about $1,007,000. Aberdeen Group plc boosted its position in shares of Corbus Pharmaceuticals by 160.6% during the 3rd quarter. Aberdeen Group plc now owns 188,231 shares of the biopharmaceutical company's stock worth $2,381,000 after acquiring an additional 116,005 shares in the last quarter. Finally, AQR Capital Management LLC purchased a new position in shares of Corbus Pharmaceuticals in the 1st quarter valued at about $573,000. Hedge funds and other institutional investors own 64.64% of the company's stock.
Analyst Ratings Changes
Several equities analysts recently issued reports on the company. Piper Sandler reissued an "overweight" rating and set a $51.00 target price on shares of Corbus Pharmaceuticals in a research note on Monday, October 20th. Royal Bank Of Canada reduced their price target on shares of Corbus Pharmaceuticals from $55.00 to $53.00 and set an "outperform" rating on the stock in a research report on Thursday, November 13th. HC Wainwright restated a "buy" rating and issued a $40.00 price objective on shares of Corbus Pharmaceuticals in a report on Monday, October 20th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Corbus Pharmaceuticals in a report on Wednesday, October 8th. Finally, Wedbush raised their price target on shares of Corbus Pharmaceuticals from $31.00 to $38.00 and gave the company an "outperform" rating in a research report on Monday, October 20th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $44.38.
Read Our Latest Stock Analysis on Corbus Pharmaceuticals
About Corbus Pharmaceuticals
(
Get Free Report)
Corbus Pharmaceuticals Holdings, Inc, a biopharmaceutical company, develops products to defeat serious illness. It develops CRB-701, an antibody drug conjugate (ADC) that targets the expression of Nectin-4 on cancer cells to release a cytotoxic payload of monomethyl auristatin E (MMAE), which is in Phase I clinical trial; CRB-601, an anti-integrin monoclonal antibody that blocks the activation of TGFß expressed on cancer cells for the treatment of solid tumors; CRB-913, a peripherally restricted cannabinoid type-1 (CB1) receptor inverse agonist for the treatment of obesity.
Further Reading
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