Corbus Pharmaceuticals (NASDAQ:CRBP) Insider Acquires $32,985.00 in Stock

Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) insider Nishant Saxena purchased 4,500 shares of Corbus Pharmaceuticals stock in a transaction dated Tuesday, June 2nd. The shares were purchased at an average price of $7.33 per share, with a total value of $32,985.00. Following the completion of the acquisition, the insider owned 66,300 shares in the company, valued at $485,979. The trade was a 7.28% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Corbus Pharmaceuticals Price Performance

Shares of Corbus Pharmaceuticals stock opened at $7.56 on Friday. The firm has a market cap of $140.09 million, a price-to-earnings ratio of -1.30 and a beta of 2.57. Corbus Pharmaceuticals Holdings, Inc. has a 52-week low of $6.72 and a 52-week high of $20.56. The stock has a 50-day simple moving average of $9.84 and a 200-day simple moving average of $9.24.

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

Analyst Ratings Changes

Several analysts have recently issued reports on CRBP shares. Wedbush decreased their price target on Corbus Pharmaceuticals from $38.00 to $30.00 and set an “outperform” rating for the company in a research note on Wednesday, May 27th. Guggenheim reiterated a “buy” rating on shares of Corbus Pharmaceuticals in a research note on Tuesday, May 26th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Corbus Pharmaceuticals in a research note on Monday, April 20th. Wall Street Zen upgraded Corbus Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Saturday, April 25th. Finally, Oppenheimer decreased their price target on Corbus Pharmaceuticals from $57.00 to $54.00 and set an “outperform” rating for the company in a research note on Wednesday, May 13th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Corbus Pharmaceuticals has a consensus rating of “Moderate Buy” and an average price target of $42.00.

Hedge Funds Weigh In On Corbus Pharmaceuticals

Large investors have recently made changes to their positions in the business. Assenagon Asset Management S.A. lifted its position 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 worth $1,530,000 after purchasing an additional 102,609 shares during the last quarter. Aberdeen Group plc lifted its position 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 worth $10,759,000 after purchasing an additional 1,133,519 shares during the last quarter. HighVista Strategies LLC raised its holdings in Corbus Pharmaceuticals by 56.8% in the 3rd quarter. HighVista Strategies LLC now owns 118,027 shares of the biopharmaceutical company’s stock valued at $1,493,000 after acquiring an additional 42,735 shares in the last quarter. Royal Bank of Canada raised its holdings in Corbus Pharmaceuticals by 81.2% in the 1st quarter. Royal Bank of Canada now owns 29,901 shares of the biopharmaceutical company’s stock valued at $281,000 after acquiring an additional 13,401 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Corbus Pharmaceuticals by 76.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 136,602 shares of the biopharmaceutical company’s stock valued at $1,281,000 after acquiring an additional 59,248 shares in the last quarter. Institutional investors and hedge funds own 64.64% of the company’s stock.

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.