Insider Selling: Corbus Pharmaceuticals (NASDAQ:CRBP) Director Sells $16,025.66 in Stock

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

Corbus Pharmaceuticals Stock Performance

Shares of NASDAQ:CRBP opened at $8.19 on Friday. Corbus Pharmaceuticals Holdings, Inc. has a 52-week low of $6.72 and a 52-week high of $20.56. The firm has a fifty day moving average of $9.70 and a 200 day moving average of $9.10. The firm has a market capitalization of $151.74 million, a PE ratio of -1.41 and a beta of 2.57.

Corbus Pharmaceuticals (NASDAQ:CRBP) last announced its earnings results 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. On average, sell-side analysts forecast that Corbus Pharmaceuticals Holdings, Inc. will post -4.87 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on CRBP shares. Jefferies Financial Group reduced their price objective on Corbus Pharmaceuticals from $36.00 to $33.00 and set a “buy” rating on the stock in a research note on Tuesday, May 12th. Wall Street Zen raised Corbus Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Saturday, April 25th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Corbus Pharmaceuticals in a research note on Monday, April 20th. Mizuho raised their price objective on Corbus Pharmaceuticals from $40.00 to $44.00 and gave the company an “outperform” rating in a research note on Friday, May 22nd. Finally, HC Wainwright reaffirmed a “buy” rating and set a $40.00 price objective on shares of Corbus Pharmaceuticals in a research note on Tuesday, May 26th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $42.00.

Institutional Trading of Corbus Pharmaceuticals

A number of institutional investors have recently modified their holdings of the company. Velan Capital Investment Management LP boosted its holdings in shares of Corbus Pharmaceuticals by 3.4% during the third quarter. Velan Capital Investment Management LP now owns 61,000 shares of the biopharmaceutical company’s stock worth $772,000 after purchasing an additional 2,000 shares during the period. Pale Fire Capital SE boosted its holdings in shares of Corbus Pharmaceuticals by 14.5% during the first quarter. Pale Fire Capital SE now owns 21,350 shares of the biopharmaceutical company’s stock worth $200,000 after purchasing an additional 2,700 shares during the period. Mariner LLC boosted its holdings in shares of Corbus Pharmaceuticals by 34.0% during the third quarter. Mariner LLC now owns 20,840 shares of the biopharmaceutical company’s stock worth $264,000 after purchasing an additional 5,289 shares during the period. Persistent Asset Partners Ltd purchased a new stake in shares of Corbus Pharmaceuticals during the fourth quarter worth about $54,000. Finally, ADAR1 Capital Management LLC purchased a new stake in shares of Corbus Pharmaceuticals during the third quarter worth about $129,000. 64.64% of the stock is currently owned by hedge funds and other institutional investors.

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.