Traders Buy Large Volume of Call Options on Corbus Pharmaceuticals (NASDAQ:CRBP)

Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) was the recipient of unusually large options trading activity on Tuesday. Stock traders bought 17,217 call options on the company. This is an increase of approximately 2,318% compared to the typical volume of 712 call options.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on CRBP shares. Oppenheimer decreased their price objective 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. Jefferies Financial Group decreased their price objective on shares of Corbus Pharmaceuticals from $36.00 to $33.00 and set a “buy” rating for the company in a report on Tuesday, May 12th. Wall Street Zen raised shares of Corbus Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Saturday, April 25th. Mizuho lifted their price objective on shares of Corbus Pharmaceuticals from $40.00 to $44.00 and gave the stock an “outperform” rating in a report on Friday. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Corbus Pharmaceuticals in a report on Monday, April 20th. One 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’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $42.89.

Corbus Pharmaceuticals Stock Performance

Shares of NASDAQ:CRBP traded down $2.78 during trading hours on Tuesday, hitting $8.57. The stock had a trading volume of 1,783,524 shares, compared to its average volume of 245,188. The stock’s fifty day simple moving average is $10.05 and its 200 day simple moving average is $9.42. Corbus Pharmaceuticals has a 1-year low of $6.72 and a 1-year high of $20.56. The firm has a market capitalization of $158.80 million, a price-to-earnings ratio of -1.47 and a beta of 2.68.

Corbus Pharmaceuticals (NASDAQ:CRBP) last announced its quarterly earnings results on Tuesday, May 12th. The biopharmaceutical company reported ($1.23) EPS for the quarter, beating the consensus estimate of ($1.26) by $0.03. As a group, research analysts anticipate that Corbus Pharmaceuticals will post -4.83 EPS for the current year.

Institutional Investors Weigh In On Corbus Pharmaceuticals

Several institutional investors have recently bought and sold shares of the stock. Bank of America Corp DE lifted its holdings in Corbus Pharmaceuticals by 53,592.3% in 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 during the period. Royal Bank of Canada lifted its holdings in 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 acquiring an additional 13,401 shares during the last quarter. Exome Asset Management LLC lifted its holdings in Corbus Pharmaceuticals by 67.8% in the 1st quarter. Exome Asset Management LLC now owns 234,136 shares of the biopharmaceutical company’s stock valued at $2,199,000 after acquiring an additional 94,593 shares during the last quarter. Orbimed Advisors LLC lifted its holdings 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 acquiring an additional 140,000 shares during the last quarter. Finally, Rangeley Capital LLC acquired a new stake in Corbus Pharmaceuticals in the 1st quarter valued at about $421,000. 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.