Key Points
- CFO Sean Moran sold 12,000 Corbus Pharmaceuticals shares at an average price of $10.08, generating $120,960. Following the transaction, he retained 84,694 shares, a 12.41% reduction in his direct ownership.
- Corbus reported a quarterly loss of $1.81 per share, missing the analyst consensus estimate of a $1.26 loss. Analysts expect a full-year loss of approximately $4.87 per share.
- Despite mixed analyst views and recent price-target cuts, the stock carries a “Moderate Buy” consensus rating, with an average target of $41.12 versus a recent share price of $9.46.
Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP - Get Free Report) CFO Sean Moran sold 12,000 shares of the business's stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $10.08, for a total transaction of $120,960.00. Following the sale, the chief financial officer directly owned 84,694 shares of the company's stock, valued at approximately $853,715.52. This trade represents a 12.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
Corbus Pharmaceuticals Price Performance
Shares of NASDAQ CRBP opened at $9.46 on Tuesday. Corbus Pharmaceuticals Holdings, Inc. has a fifty-two week low of $7.12 and a fifty-two week high of $20.56. The firm has a market capitalization of $175.29 million, a P/E ratio of -1.53 and a beta of 2.59. The company's 50 day simple moving average is $8.76 and its 200 day simple moving average is $9.06.
Corbus Pharmaceuticals (NASDAQ:CRBP - Get Free Report) last released its earnings results on Thursday, August 6th. The biopharmaceutical company reported ($1.81) EPS for the quarter, missing analysts' consensus estimates of ($1.26) by ($0.55). Sell-side analysts expect that Corbus Pharmaceuticals Holdings, Inc. will post -4.87 EPS for the current fiscal year.
Institutional Trading of Corbus Pharmaceuticals
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Orbimed Advisors LLC boosted its stake in shares of Corbus Pharmaceuticals by 36.3% during the 4th quarter. Orbimed Advisors LLC now owns 1,597,287 shares of the biopharmaceutical company's stock worth $13,002,000 after acquiring an additional 425,000 shares during the period. Armistice Capital LLC raised its stake in Corbus Pharmaceuticals by 179.2% in the 4th quarter. Armistice Capital LLC now owns 536,000 shares of the biopharmaceutical company's stock valued at $4,363,000 after acquiring an additional 344,000 shares during the period. Prosight Management LP raised its stake in Corbus Pharmaceuticals by 99.1% in the 4th quarter. Prosight Management LP now owns 683,872 shares of the biopharmaceutical company's stock valued at $5,567,000 after acquiring an additional 340,472 shares during the period. ADAR1 Capital Management LLC lifted its holdings in Corbus Pharmaceuticals by 2,711.6% during the 4th quarter. ADAR1 Capital Management LLC now owns 286,781 shares of the biopharmaceutical company's stock valued at $2,334,000 after purchasing an additional 276,581 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in Corbus Pharmaceuticals by 230.5% during the 4th quarter. Renaissance Technologies LLC now owns 354,300 shares of the biopharmaceutical company's stock valued at $2,884,000 after purchasing an additional 247,100 shares during the last quarter. 64.64% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently commented on CRBP shares. Jefferies Financial Group dropped their price objective on Corbus Pharmaceuticals from $36.00 to $33.00 and set a "buy" rating for the company in a report on Tuesday, May 12th. Wall Street Zen cut Corbus Pharmaceuticals from a "sell" rating to a "strong sell" rating in a report on Saturday. Oppenheimer decreased their target price on Corbus Pharmaceuticals from $52.00 to $48.00 and set an "outperform" rating for the company in a research report on Friday. HC Wainwright lowered their price target on Corbus Pharmaceuticals from $40.00 to $35.00 and set a "buy" rating for the company in a research note on Friday. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Corbus Pharmaceuticals in a research report on Friday, July 17th. Eight equities research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, Corbus Pharmaceuticals has an average rating of "Moderate Buy" and a consensus price target of $41.12.
Check Out Our Latest Stock 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.
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