Key Points
- Corbus Pharmaceuticals director John Kenneth Jenkins sold 4,800 shares on June 10 at an average price of $7.91, totaling $37,968. After the sale, he held 3,833 shares, a 55.6% reduction in his position.
- CRBP was trading near $7.78 with a market cap of about $144.16 million, well below its 52-week high of $20.56. The stock also remained volatile, with a beta of 2.57.
- Analysts remain mixed but generally constructive on the stock: the consensus rating is “Moderate Buy” with an average price target of $42.00, though some firms recently trimmed their targets and one maintained a sell rating.
Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP - Get Free Report) Director Winston Kung sold 2,026 shares of Corbus Pharmaceuticals stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $7.91, for a total value of $16,025.66. Following the transaction, the director owned 12,140 shares in the company, valued at $96,027.40. This represents a 14.30% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.
Corbus Pharmaceuticals Trading Up 1.0%
Shares of CRBP stock opened at $7.78 on Friday. Corbus Pharmaceuticals Holdings, Inc. has a 1-year low of $6.72 and a 1-year high of $20.56. The company has a market capitalization of $144.16 million, a price-to-earnings ratio of -1.34 and a beta of 2.57. The stock's fifty day simple moving average is $9.73 and its 200-day simple moving average is $9.11.
Corbus Pharmaceuticals (NASDAQ:CRBP - Get Free Report) last issued its quarterly earnings results on Tuesday, May 12th. The biopharmaceutical company reported ($1.23) earnings per share for the quarter, beating analysts' consensus estimates of ($1.26) by $0.03. On average, sell-side analysts predict that Corbus Pharmaceuticals Holdings, Inc. will post -4.87 EPS for the current year.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently bought and sold shares of CRBP. AQR Capital Management LLC purchased a new position in Corbus Pharmaceuticals in the first quarter valued at about $573,000. Marshall Wace LLP purchased a new position in Corbus Pharmaceuticals in the second quarter valued at about $137,000. Bank of America Corp DE grew its stake in Corbus Pharmaceuticals by 333.6% in 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 lifted its position in shares of Corbus Pharmaceuticals by 160.6% in the third quarter. Aberdeen Group plc now owns 188,231 shares of the biopharmaceutical company's stock worth $2,381,000 after buying an additional 116,005 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Corbus Pharmaceuticals by 2.1% in the third quarter. Vanguard Group Inc. now owns 612,030 shares of the biopharmaceutical company's stock worth $7,742,000 after buying an additional 12,535 shares during the last quarter. Hedge funds and other institutional investors own 64.64% of the company's stock.
Wall Street Analysts Forecast Growth
A number of brokerages have recently weighed in on CRBP. Wedbush lowered their price target on Corbus Pharmaceuticals from $38.00 to $30.00 and set an "outperform" rating on the stock in a report on Wednesday, May 27th. Jefferies Financial Group lowered their target price on Corbus Pharmaceuticals from $36.00 to $33.00 and set a "buy" rating on the stock in a research note on Tuesday, May 12th. Weiss Ratings restated a "sell (d-)" rating on shares of Corbus Pharmaceuticals in a research note on Monday, April 20th. Wall Street Zen upgraded Corbus Pharmaceuticals from a "strong sell" rating to a "sell" rating in a research note on Saturday, April 25th. Finally, Oppenheimer lowered their target price on Corbus Pharmaceuticals from $57.00 to $54.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 13th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Corbus Pharmaceuticals currently has an average rating of "Moderate Buy" and an average price target of $42.00.
Get Our Latest Report on Corbus Pharmaceuticals
Corbus Pharmaceuticals Company Profile
(
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.
See Also
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
