Anne Altmeyer Sells 2,412 Shares of Corbus Pharmaceuticals (NASDAQ:CRBP) Stock

Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) Director Anne Altmeyer sold 2,412 shares of the company’s stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $7.91, for a total value of $19,078.92. Following the sale, the director owned 7,579 shares of the company’s stock, valued at $59,949.89. This trade represents a 24.14% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Corbus Pharmaceuticals Price Performance

Corbus Pharmaceuticals stock opened at $8.19 on Friday. Corbus Pharmaceuticals Holdings, Inc. has a 12 month low of $6.72 and a 12 month high of $20.56. The business has a 50 day simple moving average of $9.70 and a 200-day simple moving average of $9.10. The stock has a market capitalization of $151.76 million, a PE ratio of -1.41 and a beta of 2.57.

Corbus Pharmaceuticals (NASDAQ:CRBP) last announced its quarterly earnings data on Tuesday, May 12th. The biopharmaceutical company reported ($1.23) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.26) by $0.03. As a group, equities research analysts anticipate that Corbus Pharmaceuticals Holdings, Inc. will post -4.87 EPS for the current year.

Analysts Set New Price Targets

CRBP has been the topic of a number of analyst reports. Wedbush decreased their price objective on Corbus Pharmaceuticals from $38.00 to $30.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 27th. Guggenheim reaffirmed a “buy” rating on shares of Corbus Pharmaceuticals in a research note on Tuesday, May 26th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Corbus Pharmaceuticals in a research note on Monday, April 20th. Mizuho increased their price objective on Corbus Pharmaceuticals from $40.00 to $44.00 and gave the company an “outperform” rating in a research note on Friday, May 22nd. Finally, Jefferies Financial Group decreased their price objective on Corbus Pharmaceuticals from $36.00 to $33.00 and set a “buy” rating on the stock in a research note on Tuesday, May 12th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Corbus Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.00.

Hedge Funds Weigh In On Corbus Pharmaceuticals

Large investors have recently modified their holdings of the company. Assenagon Asset Management S.A. raised its holdings in shares of Corbus Pharmaceuticals by 120.2% during the 4th quarter. Assenagon Asset Management S.A. now owns 187,956 shares of the biopharmaceutical company’s stock valued at $1,530,000 after buying an additional 102,609 shares during the period. Aberdeen Group plc raised its holdings in shares of Corbus Pharmaceuticals by 602.2% during the 4th quarter. Aberdeen Group plc now owns 1,321,750 shares of the biopharmaceutical company’s stock valued at $10,759,000 after buying an additional 1,133,519 shares during the period. HighVista Strategies LLC raised its holdings in shares of Corbus Pharmaceuticals by 56.8% during the 3rd quarter. HighVista Strategies LLC now owns 118,027 shares of the biopharmaceutical company’s stock valued at $1,493,000 after buying an additional 42,735 shares during the period. Persistent Asset Partners Ltd purchased a new stake in shares of Corbus Pharmaceuticals during the 4th quarter valued at about $54,000. Finally, Bank of America Corp DE raised its holdings in shares of Corbus Pharmaceuticals by 53,592.3% during the 1st quarter. Bank of America Corp DE now owns 13,960 shares of the biopharmaceutical company’s stock valued at $131,000 after buying an additional 13,934 shares during the period. 64.64% of the stock is currently owned by hedge funds and other 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.