Corbus Pharmaceuticals Sees Unusually Large Options Volume (NASDAQ:CRBP)

Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) was the recipient of unusually large options trading activity on Tuesday. Stock investors bought 10,124 put options on the stock. This represents an increase of 690% compared to the average volume of 1,282 put options.

Analyst Upgrades and Downgrades

CRBP has been the subject of several research reports. Mizuho set a $33.00 price objective on Corbus Pharmaceuticals in a research note on Thursday, August 13th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Corbus Pharmaceuticals in a research report on Friday, July 17th. Oppenheimer cut their price objective on Corbus Pharmaceuticals from $52.00 to $48.00 and set an “outperform” rating on the stock in a report on Friday, August 7th. HC Wainwright reissued a “buy” rating and issued a $35.00 target price on shares of Corbus Pharmaceuticals in a research report on Monday. Finally, Guggenheim restated a “buy” rating on shares of Corbus Pharmaceuticals in a report on Tuesday, May 26th. Eight investment analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $41.00.

Insiders Place Their Bets

In other Corbus Pharmaceuticals news, CFO Sean Moran sold 12,000 shares of the company’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $10.08, for a total value of $120,960.00. Following the completion of the sale, the chief financial officer directly owned 84,694 shares of the company’s stock, valued at approximately $853,715.52. This represents a 12.41% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Yuval Cohen sold 17,000 shares of Corbus Pharmaceuticals stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $10.08, for a total transaction of $171,360.00. Following the completion of the transaction, the chief executive officer directly owned 157,316 shares in the company, valued at $1,585,745.28. This represents a 9.75% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 31,000 shares of company stock worth $308,000. 3.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Corbus Pharmaceuticals

Hedge funds have recently modified their holdings of the stock. Bank of America Corp DE boosted its position in 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 valued at $131,000 after purchasing an additional 13,934 shares during the last quarter. Pale Fire Capital SE raised its stake in shares of Corbus Pharmaceuticals by 14.5% during the 1st 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 in the last quarter. Engineers Gate Manager LP lifted its holdings in shares of Corbus Pharmaceuticals by 109.9% during the 2nd quarter. Engineers Gate Manager LP now owns 29,800 shares of the biopharmaceutical company’s stock valued at $280,000 after buying an additional 15,600 shares during the last quarter. Royal Bank of Canada grew its stake in shares of Corbus Pharmaceuticals by 81.2% in the 1st quarter. Royal Bank of Canada now owns 29,901 shares of the biopharmaceutical company’s stock valued at $281,000 after buying an additional 13,401 shares in the last quarter. Finally, BRC Group Holdings Inc. bought a new stake in shares of Corbus Pharmaceuticals in the 4th quarter valued at approximately $315,000. 64.64% of the stock is owned by institutional investors and hedge funds.

Corbus Pharmaceuticals Price Performance

NASDAQ CRBP opened at $7.26 on Thursday. The firm has a market capitalization of $135.54 million, a price-to-earnings ratio of -1.17 and a beta of 2.63. The company has a 50 day simple moving average of $9.65 and a 200-day simple moving average of $9.43. Corbus Pharmaceuticals has a 52-week low of $6.32 and a 52-week high of $20.56.

Corbus Pharmaceuticals (NASDAQ:CRBP) last announced its quarterly earnings data on Thursday, August 6th. The biopharmaceutical company reported ($1.81) EPS for the quarter, missing analysts’ consensus estimates of ($1.26) by ($0.55). On average, analysts predict that Corbus Pharmaceuticals will post -5.62 EPS for the current year.

About Corbus Pharmaceuticals

Corbus Pharmaceuticals Holdings, Inc is a biopharmaceutical company focused on developing medicines for serious diseases in oncology and immunology. The company’s research programs are designed to target biological pathways involved in tumor growth, immune regulation and tissue fibrosis.

Corbus’s oncology pipeline includes CRB-701, an antibody-drug conjugate designed to target Nectin-4, a protein expressed on several solid tumors. The company is also developing CRB-601, an investigational monoclonal antibody directed at the alpha v beta 6 integrin, a target associated with tumor biology and fibrotic disease.