Insider Selling: Corbus Pharmaceuticals (NASDAQ:CRBP) Insider Sells $26,575.65 in Stock

Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) insider Dominic Smethurst sold 3,285 shares of the business’s stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $8.09, for a total transaction of $26,575.65. Following the completion of the transaction, the insider owned 95,887 shares in the company, valued at $775,725.83. This trade represents a 3.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Corbus Pharmaceuticals Stock Up 6.0%

CRBP opened at $7.83 on Friday. Corbus Pharmaceuticals Holdings, Inc. has a twelve month low of $4.64 and a twelve month high of $20.56. The company has a fifty day moving average of $8.72 and a 200-day moving average of $10.70. The stock has a market cap of $137.42 million, a PE ratio of -1.42 and a beta of 2.86.

Corbus Pharmaceuticals (NASDAQ:CRBP) last issued its quarterly earnings results on Wednesday, November 12th. The biopharmaceutical company reported ($1.90) EPS for the quarter, missing analysts’ consensus estimates of ($1.80) by ($0.10). Sell-side analysts anticipate that Corbus Pharmaceuticals Holdings, Inc. will post -4.23 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Aberdeen Group plc boosted its stake in Corbus Pharmaceuticals by 168.6% during the 2nd quarter. Aberdeen Group plc now owns 72,226 shares of the biopharmaceutical company’s stock valued at $498,000 after purchasing an additional 45,332 shares during the last quarter. Assenagon Asset Management S.A. bought a new position in shares of Corbus Pharmaceuticals in the third quarter valued at approximately $1,080,000. Y Intercept Hong Kong Ltd purchased a new position in shares of Corbus Pharmaceuticals during the second quarter valued at approximately $141,000. Corton Capital Inc. bought a new stake in Corbus Pharmaceuticals during the second quarter worth $86,000. Finally, Baker Avenue Asset Management LP purchased a new stake in Corbus Pharmaceuticals in the 2nd quarter valued at $138,000. 64.64% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on CRBP shares. Wedbush boosted their price target on Corbus Pharmaceuticals from $31.00 to $38.00 and gave the company an “outperform” rating in a research note on Monday, October 20th. HC Wainwright reiterated a “buy” rating and set a $40.00 target price on shares of Corbus Pharmaceuticals in a research report on Monday, October 20th. Piper Sandler reissued an “overweight” rating and set a $51.00 target price on shares of Corbus Pharmaceuticals in a research note on Monday, October 20th. Royal Bank Of Canada reduced their price target on shares of Corbus Pharmaceuticals from $55.00 to $53.00 and set an “outperform” rating for the company in a report on Thursday, November 13th. Finally, Benchmark reaffirmed a “reduce” rating on shares of Corbus Pharmaceuticals in a research note on Monday, October 20th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $44.38.

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.