Corbus Pharmaceuticals (NASDAQ:CRBP) Director Winston Kung Sells 2,026 Shares

Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) Director Winston Kung sold 2,026 shares of the business’s stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $7.91, for a total value of $16,025.66. Following the completion of the sale, the director directly owned 12,140 shares in the company, valued at $96,027.40. This represents a 14.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

Corbus Pharmaceuticals Stock Performance

CRBP opened at $7.78 on Friday. Corbus Pharmaceuticals Holdings, Inc. has a one year low of $6.72 and a one year high of $20.56. The stock’s fifty day moving average is $9.73 and its 200-day moving average is $9.11. The company has a market capitalization of $144.16 million, a PE ratio of -1.34 and a beta of 2.57.

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

Hedge Funds Weigh In On Corbus Pharmaceuticals

Hedge funds have recently modified their holdings of the stock. Persistent Asset Partners Ltd acquired a new position in shares of Corbus Pharmaceuticals in the 4th quarter worth $54,000. ADAR1 Capital Management LLC acquired a new position in shares of Corbus Pharmaceuticals in the 3rd quarter worth $129,000. Virtu Financial LLC purchased a new position in shares of Corbus Pharmaceuticals during the fourth quarter valued at $88,000. Bank of America Corp DE grew its holdings in shares of Corbus Pharmaceuticals by 53,592.3% during the first 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 in the last quarter. Finally, Barclays PLC grew its holdings in shares of Corbus Pharmaceuticals by 280.0% during the fourth 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 in the last quarter. 64.64% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CRBP has been the topic of a number of research reports. Oppenheimer dropped their price objective on Corbus Pharmaceuticals from $57.00 to $54.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 13th. Jefferies Financial Group decreased their target price on Corbus Pharmaceuticals from $36.00 to $33.00 and set a “buy” rating on the stock in a report on Tuesday, May 12th. HC Wainwright restated a “buy” rating and issued a $40.00 target price on shares of Corbus Pharmaceuticals in a report on Tuesday, May 26th. Mizuho lifted 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. Finally, Wedbush decreased their target price on Corbus Pharmaceuticals from $38.00 to $30.00 and set an “outperform” rating on the stock in a report on Wednesday, May 27th. One equities research 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. According to data from MarketBeat, Corbus Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus target price of $42.00.

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.