Corbus Pharmaceuticals (NASDAQ:CRBP) Director Sells $19,078.92 in Stock

Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) Director Anne Altmeyer sold 2,412 shares of Corbus Pharmaceuticals stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $7.91, for a total transaction of $19,078.92. Following the completion of the transaction, the director directly owned 7,579 shares in the company, valued at approximately $59,949.89. The trade was a 24.14% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Corbus Pharmaceuticals Price Performance

NASDAQ:CRBP traded up $0.08 during trading hours on Thursday, hitting $7.78. 358,322 shares of the company were exchanged, compared to its average volume of 312,483. The stock has a market capitalization of $144.15 million, a price-to-earnings ratio of -1.34 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 company’s 50 day moving average price is $9.77 and its 200-day moving average price is $9.14.

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

Analyst Ratings Changes

Several analysts have commented on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Corbus Pharmaceuticals in a research note on Monday, April 20th. Mizuho boosted their price target on shares of 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 raised shares of Corbus Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Saturday, April 25th. Oppenheimer dropped their target price on shares of Corbus Pharmaceuticals from $57.00 to $54.00 and set an “outperform” rating for the company in a report on Wednesday, May 13th. Finally, Guggenheim reaffirmed a “buy” rating on shares of Corbus Pharmaceuticals in a report on Tuesday, May 26th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Corbus Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average target price of $42.00.

Institutional Trading of Corbus Pharmaceuticals

Hedge funds have recently made changes to their positions in the business. Persistent Asset Partners Ltd acquired a new stake in shares of Corbus Pharmaceuticals during the fourth quarter worth about $54,000. Virtu Financial LLC acquired a new stake in shares of Corbus Pharmaceuticals during the fourth quarter worth about $88,000. Barclays PLC lifted its position 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 worth $120,000 after purchasing an additional 10,874 shares in the last quarter. ADAR1 Capital Management LLC acquired a new stake in shares of Corbus Pharmaceuticals during the third quarter worth about $129,000. Finally, Bank of America Corp DE lifted its position 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 worth $131,000 after purchasing an additional 13,934 shares in the last quarter. Institutional investors and hedge funds own 64.64% of the company’s stock.

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.