Corbus Pharmaceuticals (NASDAQ:CRBP) Insider Acquires $68,220.00 in Stock

Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) insider Nishant Saxena acquired 9,000 shares of Corbus Pharmaceuticals stock in a transaction on Wednesday, June 3rd. The stock was purchased at an average cost of $7.58 per share, with a total value of $68,220.00. Following the completion of the transaction, the insider directly owned 75,300 shares in the company, valued at $570,774. This represents a 13.57% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Corbus Pharmaceuticals Stock Performance

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

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of CRBP. Persistent Asset Partners Ltd bought a new position in Corbus Pharmaceuticals in the 4th quarter worth approximately $54,000. Virtu Financial LLC bought a new position in Corbus Pharmaceuticals in the 4th quarter worth approximately $88,000. Barclays PLC boosted its holdings in Corbus Pharmaceuticals by 280.0% in the 4th quarter. Barclays PLC now owns 14,758 shares of the biopharmaceutical company’s stock worth $120,000 after buying an additional 10,874 shares during the period. ADAR1 Capital Management LLC bought a new position in Corbus Pharmaceuticals in the 3rd quarter worth approximately $129,000. Finally, Bank of America Corp DE boosted its holdings 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 worth $131,000 after buying an additional 13,934 shares during the period. 64.64% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. Wall Street Zen raised shares of Corbus Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Saturday, April 25th. Jefferies Financial Group reduced their target price on shares of Corbus Pharmaceuticals from $36.00 to $33.00 and set a “buy” rating for the company in a research report on Tuesday, May 12th. Mizuho increased their target price on shares of Corbus Pharmaceuticals from $40.00 to $44.00 and gave the company an “outperform” rating in a research report on Friday, May 22nd. HC Wainwright reissued a “buy” rating and set a $40.00 target price on shares of Corbus Pharmaceuticals in a research report on Tuesday, May 26th. Finally, Oppenheimer reduced their target price on shares of Corbus Pharmaceuticals from $57.00 to $54.00 and set an “outperform” rating for the company in a research report on Wednesday, May 13th. One investment 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. Based on data from MarketBeat.com, the company 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.