Corbus Pharmaceuticals (NASDAQ:CRBP) Director Sells $37,968.00 in Stock

Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) Director John Kenneth Jenkins sold 4,800 shares of Corbus Pharmaceuticals stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $7.91, for a total value of $37,968.00. Following the completion of the transaction, the director owned 3,833 shares of the company’s stock, valued at approximately $30,319.03. This trade represents a 55.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Corbus Pharmaceuticals Stock Up 1.0%

Corbus Pharmaceuticals stock traded up $0.08 during midday trading on Thursday, reaching $7.78. The company’s stock had a trading volume of 358,322 shares, compared to its average volume of 312,483. Corbus Pharmaceuticals Holdings, Inc. has a fifty-two week low of $6.72 and a fifty-two week high of $20.56. The company has a market cap of $144.15 million, a P/E ratio of -1.34 and a beta of 2.57. The business has a 50-day simple moving average of $9.77 and a 200-day simple moving average of $9.14.

Corbus Pharmaceuticals (NASDAQ:CRBP) last posted its quarterly earnings results 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. As a group, equities analysts forecast that Corbus Pharmaceuticals Holdings, Inc. will post -4.87 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Jefferies Financial Group decreased their price target on Corbus Pharmaceuticals from $36.00 to $33.00 and set a “buy” rating for the company in a research note on Tuesday, May 12th. Mizuho boosted their target price on Corbus Pharmaceuticals from $40.00 to $44.00 and gave the stock an “outperform” rating in a report on Friday, May 22nd. Wall Street Zen upgraded shares of Corbus Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Saturday, April 25th. Guggenheim reiterated a “buy” rating on shares of Corbus Pharmaceuticals in a research report on Tuesday, May 26th. Finally, Wedbush cut their price objective on Corbus Pharmaceuticals from $38.00 to $30.00 and set an “outperform” rating for the company in a research report on Wednesday, May 27th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.00.

Hedge Funds Weigh In On Corbus Pharmaceuticals

Hedge funds have recently modified their holdings of the stock. AQR Capital Management LLC bought a new stake in shares of Corbus Pharmaceuticals in the first quarter valued at about $573,000. Marshall Wace LLP acquired a new stake in shares of Corbus Pharmaceuticals in the second quarter valued at approximately $137,000. Bank of America Corp DE increased its holdings in shares of Corbus Pharmaceuticals by 333.6% in the second quarter. Bank of America Corp DE now owns 71,893 shares of the biopharmaceutical company’s stock valued at $496,000 after purchasing an additional 55,314 shares in the last quarter. Aberdeen Group plc increased its holdings in shares of Corbus Pharmaceuticals by 160.6% in the third quarter. Aberdeen Group plc now owns 188,231 shares of the biopharmaceutical company’s stock valued at $2,381,000 after purchasing an additional 116,005 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Corbus Pharmaceuticals by 2.1% in the third quarter. Vanguard Group Inc. now owns 612,030 shares of the biopharmaceutical company’s stock valued at $7,742,000 after purchasing an additional 12,535 shares in the last quarter. 64.64% of the stock is owned by institutional investors and hedge funds.

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.