Key Points
- Corbus Pharmaceuticals insider Nishant Saxena bought 9,000 shares on June 3 at an average price of $7.58, spending about $68,220. The purchase increased his holdings by 13.57% to 75,300 shares.
- CRBP has seen mixed but mostly positive analyst sentiment, with Guggenheim and HC Wainwright maintaining buy ratings and Mizuho raising its target to $44. The stock currently carries a consensus rating of “Moderate Buy” and an average price target of $42.
- Institutional investors continue to hold significant stakes in the company, with hedge funds and other institutions owning 64.64% of shares. Recent filings showed notable position increases from firms including Bank of America, Royal Bank of Canada, and Orbimed Advisors.
Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP - Get Free Report) insider Nishant Saxena purchased 4,500 shares of the firm's stock in a transaction that occurred on Tuesday, June 2nd. The stock was bought at an average price of $7.33 per share, for a total transaction of $32,985.00. Following the transaction, the insider directly owned 66,300 shares of the company's stock, valued at $485,979. This trade represents a 7.28% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link.
Corbus Pharmaceuticals Stock Performance
Shares of NASDAQ CRBP opened at $7.38 on Thursday. Corbus Pharmaceuticals Holdings, Inc. has a 52 week low of $6.72 and a 52 week high of $20.56. The stock has a market capitalization of $136.75 million, a P/E ratio of -1.27 and a beta of 2.57. The stock's fifty day moving average is $9.86 and its 200 day moving average is $9.28.
Corbus Pharmaceuticals (NASDAQ:CRBP - Get Free Report) last issued its quarterly earnings results on Tuesday, May 12th. The biopharmaceutical company reported ($1.23) EPS for the quarter, topping analysts' consensus estimates of ($1.26) by $0.03. Equities research analysts forecast that Corbus Pharmaceuticals Holdings, Inc. will post -4.87 earnings per share for the current year.
Institutional Trading of Corbus Pharmaceuticals
A number of hedge funds have recently added to or reduced their stakes in CRBP. AQR Capital Management LLC acquired a new stake in Corbus Pharmaceuticals in the first quarter valued at approximately $573,000. Marshall Wace LLP acquired a new stake in Corbus Pharmaceuticals in the second quarter valued at approximately $137,000. Bank of America Corp DE boosted its stake in shares of Corbus Pharmaceuticals by 333.6% during the second quarter. Bank of America Corp DE now owns 71,893 shares of the biopharmaceutical company's stock valued at $496,000 after purchasing an additional 55,314 shares in the last quarter. Aberdeen Group plc boosted its stake in shares of Corbus Pharmaceuticals by 160.6% during the third quarter. Aberdeen Group plc now owns 188,231 shares of the biopharmaceutical company's stock valued at $2,381,000 after purchasing an additional 116,005 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Corbus Pharmaceuticals by 2.1% during the third quarter. Vanguard Group Inc. now owns 612,030 shares of the biopharmaceutical company's stock valued at $7,742,000 after purchasing an additional 12,535 shares in the last quarter. Institutional investors and hedge funds own 64.64% of the company's stock.
Analyst Ratings Changes
A number of research analysts recently commented on the company. Wedbush decreased their price target on Corbus Pharmaceuticals from $38.00 to $30.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 27th. Guggenheim reaffirmed a "buy" rating on shares of Corbus Pharmaceuticals in a research note on Tuesday, May 26th. Wall Street Zen raised Corbus Pharmaceuticals from a "strong sell" rating to a "sell" rating in a research note on Saturday, April 25th. HC Wainwright reaffirmed a "buy" rating and issued a $40.00 price objective on shares of Corbus Pharmaceuticals in a research note on Tuesday, May 26th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Corbus Pharmaceuticals in a research note on Monday, April 20th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $42.00.
Read Our Latest Stock Analysis on Corbus Pharmaceuticals
About Corbus Pharmaceuticals
(
Get Free Report)
Corbus Pharmaceuticals Holdings, Inc is a clinical-stage biopharmaceutical company dedicated to the development and commercialization of therapeutic candidates for rare, life-threatening inflammatory and fibrotic diseases. The company's lead investigational therapy, lenabasum, is a synthetic, oral cannabinoid receptor type 2 (CB2) agonist designed to resolve chronic inflammation by harnessing the body's innate resolution pathways. Corbus operates by advancing small-molecule compounds through preclinical and clinical studies to address unmet medical needs in autoimmune and inflammatory disorders.
Lenabasum is currently under evaluation in a Phase 3 clinical trial for diffuse cutaneous systemic sclerosis (dcSSc) and in a Phase 2 study for cystic fibrosis–related inflammation.
Further Reading
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