Analysts Set Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) PT at $44.38

Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) has been assigned an average recommendation of “Moderate Buy” from the eleven analysts that are currently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, seven have given a buy rating and two have given a strong buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $44.3750.

Several equities analysts have recently commented on CRBP shares. Royal Bank Of Canada lowered their price target 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. Jefferies Financial Group upgraded shares of Corbus Pharmaceuticals to a “strong-buy” rating in a research report on Wednesday. Mizuho set a $39.00 price target on shares of Corbus Pharmaceuticals in a research note on Wednesday, October 29th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Corbus Pharmaceuticals in a report on Wednesday, January 21st.

Insider Buying and Selling at Corbus Pharmaceuticals

In related news, major shareholder Cormorant Asset Management, Lp sold 30,029 shares of Corbus Pharmaceuticals stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $11.46, for a total transaction of $344,132.34. Following the sale, the insider directly 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 Securities & Exchange Commission, which is available through the SEC website. Also, insider Dominic Smethurst sold 3,285 shares of the stock in a transaction dated Tuesday, February 3rd. The shares were 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 of the company’s stock, valued at $775,725.83. This represents a 3.31% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 35,729 shares of company stock worth $390,245 in the last ninety days. 3.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Persistent Asset Partners Ltd acquired a new position in shares of Corbus Pharmaceuticals during the 4th quarter valued at $54,000. Corton Capital Inc. acquired a new position in Corbus Pharmaceuticals during the second quarter worth about $86,000. Barclays PLC lifted its holdings in Corbus Pharmaceuticals by 280.0% in the 4th 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 during the last quarter. ADAR1 Capital Management LLC acquired a new stake in Corbus Pharmaceuticals in the 3rd quarter valued at about $129,000. Finally, Marshall Wace LLP bought a new position in shares of Corbus Pharmaceuticals during the 2nd quarter valued at about $137,000. Institutional investors and hedge funds own 64.64% of the company’s stock.

Corbus Pharmaceuticals Trading Up 3.6%

Shares of NASDAQ CRBP opened at $7.68 on Tuesday. Corbus Pharmaceuticals has a 12-month low of $4.64 and a 12-month high of $20.56. The company has a market cap of $134.78 million, a price-to-earnings ratio of -1.39 and a beta of 2.86. The stock’s 50 day simple moving average is $8.24 and its 200 day simple moving average is $10.60.

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.