Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP - Get Free Report) major shareholder Cormorant Asset Management, Lp sold 425,000 shares of the business's stock in a transaction dated Thursday, October 29th. The stock was sold at an average price of $4.10, for a total value of $1,742,500.00. Following the sale, the insider owned 1,919,971 shares of the company's stock, valued at $7,871,881.10. The trade was a 18.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Major shareholders that own more than 10% of a company's stock are required to disclose their transactions with the SEC.
Corbus Pharmaceuticals Price Performance
CRBP opened at $3.91 on Tuesday. The firm has a 50 day moving average price of $7.05 and a 200 day moving average price of $8.58. Corbus Pharmaceuticals Holdings, Inc. has a 1 year low of $3.87 and a 1 year high of $12.88.
Corbus Pharmaceuticals (NASDAQ:CRBP - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The biopharmaceutical company reported ($1.81) EPS for the quarter, missing the consensus estimate of ($1.26) by ($0.55). As a group, analysts forecast that Corbus Pharmaceuticals Holdings, Inc. will post -5.62 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Corbus Pharmaceuticals
Several hedge funds and other institutional investors have recently bought and sold shares of CRBP. Orbimed Advisors LLC boosted its holdings in Corbus Pharmaceuticals by 8.8% in the 1st quarter. Orbimed Advisors LLC now owns 1,737,287 shares of the biopharmaceutical company's stock worth $16,313,000 after acquiring an additional 140,000 shares during the period. Dimensional Fund Advisors LP grew its position in Corbus Pharmaceuticals by 76.6% in the first quarter. Dimensional Fund Advisors LP now owns 136,602 shares of the biopharmaceutical company's stock valued at $1,281,000 after acquiring an additional 59,248 shares in the last quarter. Exome Asset Management LLC raised its stake in shares of Corbus Pharmaceuticals by 67.8% during the first quarter. Exome Asset Management LLC now owns 234,136 shares of the biopharmaceutical company's stock valued at $2,199,000 after purchasing an additional 94,593 shares during the period. Doliver Advisors LP purchased a new stake in shares of Corbus Pharmaceuticals during the third quarter valued at approximately $518,000. Finally, Engineers Gate Manager LP raised its stake in shares of Corbus Pharmaceuticals by 109.9% during the second quarter. Engineers Gate Manager LP now owns 29,800 shares of the biopharmaceutical company's stock valued at $280,000 after purchasing an additional 15,600 shares during the period. 64.64% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of equities analysts have recently commented on CRBP shares. Oppenheimer cut their target price on shares of Corbus Pharmaceuticals from $52.00 to $48.00 and set an "outperform" rating on the stock in a research note on Friday, August 7th. Mizuho set a $33.00 target price on shares of Corbus Pharmaceuticals in a report on Thursday, August 13th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Corbus Pharmaceuticals in a research report on Thursday, October 15th. Wall Street Zen downgraded Corbus Pharmaceuticals from a "sell" rating to a "strong sell" rating in a report on Saturday, August 8th. Finally, HC Wainwright reiterated a "buy" rating and issued a $35.00 price target on shares of Corbus Pharmaceuticals in a report on Monday, September 14th. Seven equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $39.57.
Check Out Our Latest Research Report on Corbus Pharmaceuticals
Corbus Pharmaceuticals Company Profile
(
Get Free Report)
Corbus Pharmaceuticals Holdings, Inc is a biopharmaceutical company focused on developing medicines for serious diseases in oncology and immunology. The company's research is centered on therapies designed to modulate immune-cell activity and target biological pathways involved in cancer and inflammatory disease.
Corbus' oncology pipeline has included soquelitinib, formerly known as CPI-818, an oral, selective inhibitor of interleukin-2-inducible T-cell kinase (ITK) being evaluated for its potential to treat T-cell lymphomas and other cancers.
Featured Stories
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].
