Seven Fleet Capital Management LP Has $201,000 Stake in Corbus Pharmaceuticals Holdings, Inc. $CRBP

Seven Fleet Capital Management LP trimmed its stake in Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) by 75.0% during the second quarter, Holdings Channel reports. The fund owned 21,432 shares of the biopharmaceutical company’s stock after selling 64,255 shares during the quarter. Seven Fleet Capital Management LP’s holdings in Corbus Pharmaceuticals were worth $201,000 as of its most recent filing with the SEC.

A number of other large investors have also recently added to or reduced their stakes in the stock. Persistent Asset Partners Ltd acquired a new position in Corbus Pharmaceuticals during the fourth quarter valued at approximately $54,000. ADAR1 Capital Management LLC acquired a new stake in shares of Corbus Pharmaceuticals in the third quarter worth $129,000. Virtu Financial LLC bought a new stake in shares of Corbus Pharmaceuticals during the 4th quarter worth $88,000. Bank of America Corp DE grew its stake in Corbus Pharmaceuticals by 53,592.3% in 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 last quarter. Finally, Barclays PLC grew its stake 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 buying an additional 10,874 shares during the last quarter. Institutional investors own 64.64% of the company’s stock.

Insider Transactions at Corbus Pharmaceuticals

In other Corbus Pharmaceuticals news, Director John Jenkins sold 4,800 shares of the firm’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 $37,968.00. Following the completion of the sale, the director owned 3,833 shares in the company, valued at approximately $30,319.03. This trade represents a 55.60% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Sean Moran sold 12,000 shares of Corbus Pharmaceuticals stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $10.08, for a total value of $120,960.00. Following the sale, the chief financial officer directly owned 84,694 shares in the company, valued at $853,715.52. The trade was a 12.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 38,238 shares of company stock worth $365,393. Insiders own 3.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. HC Wainwright reiterated a “buy” rating and issued a $35.00 target price on shares of Corbus Pharmaceuticals in a report on Wednesday, August 26th. Guggenheim reaffirmed a “buy” rating on shares of Corbus Pharmaceuticals in a research report on Tuesday, May 26th. Jefferies Financial Group dropped 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. Wall Street Zen cut Corbus Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 8th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Corbus Pharmaceuticals in a research note on Friday, July 17th. Eight equities research analysts have rated the stock with a Buy rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $41.00.

Corbus Pharmaceuticals Price Performance

NASDAQ CRBP opened at $11.08 on Friday. The firm has a market capitalization of $206.87 million, a price-to-earnings ratio of -1.79 and a beta of 2.63. The company’s fifty day moving average is $9.75 and its two-hundred day moving average is $9.36. Corbus Pharmaceuticals Holdings, Inc. has a 52-week low of $7.12 and a 52-week high of $20.56.

Corbus Pharmaceuticals (NASDAQ:CRBP) last announced its quarterly earnings data on Thursday, August 6th. The biopharmaceutical company reported ($1.81) EPS for the quarter, missing analysts’ consensus estimates of ($1.26) by ($0.55). As a group, sell-side analysts expect that Corbus Pharmaceuticals Holdings, Inc. will post -5.54 earnings per share for the current fiscal year.

Corbus Pharmaceuticals 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.