Corbus Pharmaceuticals (NASDAQ:CRBP) Shares Cross Below Fifty Day Moving Average – Should You Sell?

Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) shares crossed below its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $12.43 and traded as low as $8.03. Corbus Pharmaceuticals shares last traded at $8.34, with a volume of 228,299 shares trading hands.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Benchmark reissued a “reduce” rating on shares of Corbus Pharmaceuticals in a research report on Monday, October 20th. Mizuho set a $39.00 price objective on Corbus Pharmaceuticals in a report on Wednesday, October 29th. Piper Sandler restated an “overweight” rating and set a $51.00 target price on shares of Corbus Pharmaceuticals in a report on Monday, October 20th. Weiss Ratings reissued a “sell (d-)” rating on shares of Corbus Pharmaceuticals in a research report on Wednesday, October 8th. Finally, Royal Bank Of Canada decreased their price objective on shares of Corbus Pharmaceuticals from $55.00 to $53.00 and set an “outperform” rating for the company in a research report on Thursday, November 13th. One 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 stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $44.38.

Corbus Pharmaceuticals Trading Up 2.7%

The stock has a market cap of $146.37 million, a P/E ratio of -1.51 and a beta of 2.71. The stock’s 50-day moving average is $12.43 and its 200-day moving average is $10.71.

Corbus Pharmaceuticals (NASDAQ:CRBP) last announced its earnings results on Wednesday, November 12th. The biopharmaceutical company reported ($1.90) earnings per share for the quarter, missing the consensus estimate of ($1.80) by ($0.10). On average, equities analysts forecast that Corbus Pharmaceuticals Holdings, Inc. will post -4.23 EPS for the current year.

Insiders Place Their Bets

In other Corbus Pharmaceuticals news, major shareholder Cormorant Asset Management, Lp sold 30,029 shares of the business’s stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $11.46, for a total value of $344,132.34. Following the transaction, the insider owned 2,344,971 shares in the company, valued at $26,873,367.66. The trade was a 1.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Yuval Cohen sold 8,973 shares of Corbus Pharmaceuticals stock in a transaction that occurred on Monday, October 27th. The shares were sold at an average price of $17.14, for a total transaction of $153,797.22. Following the completion of the sale, the chief executive officer owned 138,187 shares of the company’s stock, valued at $2,368,525.18. This trade represents a 6.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 71,703 shares of company stock worth $1,058,003 in the last quarter. 4.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Corbus Pharmaceuticals

Several hedge funds have recently modified their holdings of CRBP. Velan Capital Investment Management LP increased its holdings in Corbus Pharmaceuticals by 3.4% during the 3rd quarter. Velan Capital Investment Management LP now owns 61,000 shares of the biopharmaceutical company’s stock valued at $772,000 after purchasing an additional 2,000 shares in the last quarter. Mariner LLC lifted its stake in Corbus Pharmaceuticals by 34.0% in the third quarter. Mariner LLC now owns 20,840 shares of the biopharmaceutical company’s stock valued at $264,000 after buying an additional 5,289 shares during the period. ADAR1 Capital Management LLC bought a new position in Corbus Pharmaceuticals during the 3rd quarter worth approximately $129,000. Corton Capital Inc. bought a new position in shares of Corbus Pharmaceuticals during the second quarter worth $86,000. Finally, Vanguard Group Inc. lifted its holdings in Corbus Pharmaceuticals by 2.1% during the third quarter. Vanguard Group Inc. now owns 612,030 shares of the biopharmaceutical company’s stock worth $7,742,000 after acquiring an additional 12,535 shares in the last quarter. 64.64% of the stock is owned by institutional investors.

Corbus Pharmaceuticals Company Profile

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.