Insider Selling: 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 that occurred on Wednesday, June 10th. The shares were sold at an average price of $7.91, for a total transaction of $37,968.00. Following the sale, the director owned 3,833 shares of the company’s stock, valued at approximately $30,319.03. The trade was a 55.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Corbus Pharmaceuticals Price Performance

Shares of Corbus Pharmaceuticals stock opened at $8.19 on Friday. Corbus Pharmaceuticals Holdings, Inc. has a 1 year low of $6.72 and a 1 year high of $20.56. The company has a market capitalization of $151.74 million, a P/E ratio of -1.41 and a beta of 2.57. The business has a 50 day moving average price of $9.70 and a 200 day moving average price of $9.10.

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 the consensus estimate of ($1.26) by $0.03. As a group, research analysts expect that Corbus Pharmaceuticals Holdings, Inc. will post -4.87 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CRBP has been the subject of several research reports. Mizuho lifted their price objective on Corbus Pharmaceuticals from $40.00 to $44.00 and gave the stock an “outperform” rating in a research report on Friday, May 22nd. Jefferies Financial Group cut their price target on Corbus Pharmaceuticals from $36.00 to $33.00 and set a “buy” rating for the company in a report on Tuesday, May 12th. HC Wainwright reiterated a “buy” rating and issued a $40.00 price target on shares of Corbus Pharmaceuticals in a report on Tuesday, May 26th. Wedbush cut their price target on Corbus Pharmaceuticals from $38.00 to $30.00 and set an “outperform” rating for the company in a report on Wednesday, May 27th. Finally, Oppenheimer cut their price target on Corbus Pharmaceuticals from $57.00 to $54.00 and set an “outperform” rating for the company in a report on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have issued a Sell rating to the company. According to MarketBeat.com, Corbus Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.00.

Institutional Trading of Corbus Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Orbimed Advisors LLC boosted its position in Corbus Pharmaceuticals by 8.8% in the 1st quarter. Orbimed Advisors LLC now owns 1,737,287 shares of the biopharmaceutical company’s stock valued at $16,313,000 after buying an additional 140,000 shares during the last quarter. Aberdeen Group plc boosted its position in Corbus Pharmaceuticals by 602.2% in the 4th quarter. Aberdeen Group plc now owns 1,321,750 shares of the biopharmaceutical company’s stock valued at $10,759,000 after buying an additional 1,133,519 shares during the last quarter. Prosight Management LP boosted its position in Corbus Pharmaceuticals by 99.1% in the 4th quarter. Prosight Management LP now owns 683,872 shares of the biopharmaceutical company’s stock valued at $5,567,000 after buying an additional 340,472 shares during the last quarter. Vanguard Group Inc. boosted its position in Corbus Pharmaceuticals by 2.1% in the 3rd quarter. Vanguard Group Inc. now owns 612,030 shares of the biopharmaceutical company’s stock valued at $7,742,000 after buying an additional 12,535 shares during the last quarter. Finally, Armistice Capital LLC boosted its position in Corbus Pharmaceuticals by 179.2% in the 4th quarter. Armistice Capital LLC now owns 536,000 shares of the biopharmaceutical company’s stock valued at $4,363,000 after buying an additional 344,000 shares during the last quarter. 64.64% of the stock is currently 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.