Corbus Pharmaceuticals (NASDAQ:CRBP) COO Sells $19,537.35 in Stock

Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) COO Ian Hodgson sold 2,415 shares of Corbus Pharmaceuticals stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $8.09, for a total value of $19,537.35. Following the transaction, the chief operating officer directly owned 51,927 shares of the company’s stock, valued at approximately $420,089.43. This represents a 4.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Corbus Pharmaceuticals Trading Down 1.1%

Shares of CRBP stock traded down $0.09 during mid-day trading on Wednesday, reaching $8.01. The stock had a trading volume of 111,166 shares, compared to its average volume of 167,364. The company has a market cap of $140.58 million, a P/E ratio of -1.45 and a beta of 2.86. Corbus Pharmaceuticals Holdings, Inc. has a 12-month low of $4.64 and a 12-month high of $20.56. The business has a 50-day simple moving average of $8.96 and a 200 day simple moving average of $10.74.

Corbus Pharmaceuticals (NASDAQ:CRBP) last issued its quarterly earnings data on Wednesday, November 12th. The biopharmaceutical company reported ($1.90) EPS for the quarter, missing analysts’ consensus estimates of ($1.80) by ($0.10). Research analysts anticipate that Corbus Pharmaceuticals Holdings, Inc. will post -4.23 EPS for the current year.

Analyst Ratings Changes

A number of research firms recently issued reports on CRBP. Piper Sandler reaffirmed an “overweight” rating and issued a $51.00 target price on shares of Corbus Pharmaceuticals in a research note on Monday, October 20th. HC Wainwright restated a “buy” rating and issued a $40.00 price objective on shares of Corbus Pharmaceuticals in a research report on Monday, October 20th. Benchmark reaffirmed a “reduce” rating on shares of Corbus Pharmaceuticals in a research note on Monday, October 20th. Royal Bank Of Canada cut their target price on shares of Corbus Pharmaceuticals from $55.00 to $53.00 and set an “outperform” rating for the company in a research note on Thursday, November 13th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Corbus Pharmaceuticals in a report on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $44.38.

Institutional Trading of Corbus Pharmaceuticals

A number of hedge funds have recently added to or reduced their stakes in the business. AQR Capital Management LLC purchased a new stake in Corbus Pharmaceuticals in the 1st quarter valued at about $573,000. Aberdeen Group plc grew its holdings in Corbus Pharmaceuticals by 168.6% in the second quarter. Aberdeen Group plc now owns 72,226 shares of the biopharmaceutical company’s stock valued at $498,000 after purchasing an additional 45,332 shares during the period. Y Intercept Hong Kong Ltd acquired a new position in Corbus Pharmaceuticals during the second quarter worth approximately $141,000. Corton Capital Inc. acquired a new position in Corbus Pharmaceuticals during the second quarter worth approximately $86,000. Finally, Marshall Wace LLP purchased a new position in Corbus Pharmaceuticals during the second quarter worth approximately $137,000. 64.64% of the stock is owned by institutional investors and hedge funds.

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.