Corbus Pharmaceuticals (NASDAQ:CRBP) Director Sells $16,025.66 in Stock

Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) Director Winston Kung sold 2,026 shares of the firm’s stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $7.91, for a total value of $16,025.66. Following the sale, the director directly owned 12,140 shares in the company, valued at approximately $96,027.40. This represents a 14.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Corbus Pharmaceuticals Stock Up 1.0%

NASDAQ:CRBP traded up $0.08 on Thursday, reaching $7.78. 358,322 shares of the company’s stock traded hands, compared to its average volume of 312,483. The stock has a 50-day simple moving average of $9.77 and a 200-day simple moving average of $9.14. The firm has a market cap of $144.15 million, a PE ratio of -1.34 and a beta of 2.57. Corbus Pharmaceuticals Holdings, Inc. has a 12 month low of $6.72 and a 12 month high of $20.56.

Corbus Pharmaceuticals (NASDAQ:CRBP) last issued its quarterly earnings data 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, equities analysts anticipate that Corbus Pharmaceuticals Holdings, Inc. will post -4.87 earnings per share for the current year.

Institutional Trading of Corbus Pharmaceuticals

Institutional investors and hedge funds have recently modified their holdings of the stock. Persistent Asset Partners Ltd bought a new stake in shares of Corbus Pharmaceuticals during the fourth quarter valued at approximately $54,000. ADAR1 Capital Management LLC bought a new stake in shares of Corbus Pharmaceuticals during the third quarter valued at approximately $129,000. Virtu Financial LLC bought a new stake in shares of Corbus Pharmaceuticals during the fourth quarter valued at approximately $88,000. Bank of America Corp DE raised its stake in shares of Corbus Pharmaceuticals by 53,592.3% during the first quarter. Bank of America Corp DE now owns 13,960 shares of the biopharmaceutical company’s stock valued at $131,000 after acquiring an additional 13,934 shares in the last quarter. Finally, Barclays PLC raised its stake in shares of Corbus Pharmaceuticals by 280.0% during the fourth quarter. Barclays PLC now owns 14,758 shares of the biopharmaceutical company’s stock valued at $120,000 after acquiring an additional 10,874 shares in the last quarter. Institutional investors own 64.64% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on CRBP. Weiss Ratings restated a “sell (d-)” rating on shares of Corbus Pharmaceuticals in a research report on Monday, April 20th. Jefferies Financial Group cut their price objective on Corbus Pharmaceuticals from $36.00 to $33.00 and set a “buy” rating for the company in a research report on Tuesday, May 12th. Mizuho lifted their price target on Corbus Pharmaceuticals from $40.00 to $44.00 and gave the stock an “outperform” rating in a research report on Friday, May 22nd. Wall Street Zen upgraded Corbus Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Saturday, April 25th. Finally, Guggenheim reiterated a “buy” rating on shares of Corbus Pharmaceuticals in a research report on Tuesday, May 26th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $42.00.

About Corbus Pharmaceuticals

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.