Corbus Pharmaceuticals (NASDAQ:CRBP) CFO Sean Moran Sells 12,981 Shares of Stock

Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) CFO Sean Moran sold 12,981 shares of the firm’s stock in a transaction that occurred on Friday, October 24th. The shares were sold at an average price of $17.02, for a total value of $220,936.62. Following the completion of the transaction, the chief financial officer owned 73,313 shares in the company, valued at approximately $1,247,787.26. This trade represents a 15.04% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Corbus Pharmaceuticals Price Performance

NASDAQ CRBP opened at $17.01 on Tuesday. The company has a market cap of $208.46 million, a PE ratio of -3.57 and a beta of 2.84. The stock’s 50 day simple moving average is $12.65 and its 200-day simple moving average is $9.59. Corbus Pharmaceuticals Holdings, Inc. has a 1-year low of $4.64 and a 1-year high of $20.77.

Corbus Pharmaceuticals (NASDAQ:CRBP) last released its earnings results on Tuesday, August 5th. The biopharmaceutical company reported ($1.44) earnings per share for the quarter, beating the consensus estimate of ($1.55) by $0.11. On average, equities research analysts anticipate that Corbus Pharmaceuticals Holdings, Inc. will post -4.23 EPS for the current fiscal year.

Institutional Investors Weigh In On Corbus Pharmaceuticals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CRBP. Nuveen LLC purchased a new stake in Corbus Pharmaceuticals in the first quarter valued at $243,000. AlphaQuest LLC purchased a new stake in Corbus Pharmaceuticals in the first quarter valued at $299,000. Stonepine Capital Management LLC purchased a new stake in Corbus Pharmaceuticals in the first quarter valued at $186,000. Comerica Bank raised its position in Corbus Pharmaceuticals by 20,000,000.0% in the first quarter. Comerica Bank now owns 200,001 shares of the biopharmaceutical company’s stock valued at $1,062,000 after purchasing an additional 200,000 shares during the period. Finally, Velan Capital Investment Management LP raised its position in Corbus Pharmaceuticals by 4.1% in the first quarter. Velan Capital Investment Management LP now owns 59,000 shares of the biopharmaceutical company’s stock valued at $313,000 after purchasing an additional 2,300 shares during the period. Hedge funds and other institutional investors own 64.64% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on CRBP. Weiss Ratings reiterated a “sell (d-)” rating on shares of Corbus Pharmaceuticals in a research report on Wednesday, October 8th. Benchmark reiterated a “reduce” rating on shares of Corbus Pharmaceuticals in a research report on Monday, October 20th. Wedbush lifted their price objective on Corbus Pharmaceuticals from $31.00 to $38.00 and gave the stock an “outperform” rating in a research report on Monday, October 20th. Oppenheimer reduced their price objective on Corbus Pharmaceuticals from $56.00 to $53.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 6th. Finally, HC Wainwright reiterated a “buy” rating and set a $40.00 price objective on shares of Corbus Pharmaceuticals in a research report on Monday, October 20th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $45.86.

Corbus Pharmaceuticals Company Profile

Corbus Pharmaceuticals Holdings, Inc, a biopharmaceutical company, develops products to defeat serious illness. It develops CRB-701, an antibody drug conjugate (ADC) that targets the expression of Nectin-4 on cancer cells to release a cytotoxic payload of monomethyl auristatin E (MMAE), which is in Phase I clinical trial; CRB-601, an anti-integrin monoclonal antibody that blocks the activation of TGFß expressed on cancer cells for the treatment of solid tumors; CRB-913, a peripherally restricted cannabinoid type-1 (CB1) receptor inverse agonist for the treatment of obesity.