Nishant Saxena Acquires 4,500 Shares of Corbus Pharmaceuticals (NASDAQ:CRBP) Stock

Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) insider Nishant Saxena bought 4,500 shares of Corbus Pharmaceuticals stock in a transaction on Tuesday, June 2nd. The stock was acquired at an average price of $7.33 per share, with a total value of $32,985.00. Following the completion of the purchase, the insider directly owned 66,300 shares of the company’s stock, valued at approximately $485,979. The trade was a 7.28% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Corbus Pharmaceuticals Stock Up 8.4%

NASDAQ CRBP opened at $8.00 on Friday. The stock has a market capitalization of $148.22 million, a PE ratio of -1.37 and a beta of 2.57. The company has a 50 day moving average price of $9.85 and a two-hundred day moving average price of $9.25. Corbus Pharmaceuticals Holdings, Inc. has a 12-month low of $6.72 and a 12-month high of $20.56.

Corbus Pharmaceuticals (NASDAQ:CRBP) last released its quarterly earnings results on Tuesday, May 12th. The biopharmaceutical company reported ($1.23) EPS for the quarter, beating analysts’ consensus estimates of ($1.26) by $0.03. As a group, equities analysts anticipate that Corbus Pharmaceuticals Holdings, Inc. will post -4.87 EPS for the current year.

Analyst Upgrades and Downgrades

CRBP has been the topic of a number of research analyst reports. Wedbush lowered their target price on shares of Corbus Pharmaceuticals from $38.00 to $30.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 27th. Wall Street Zen raised Corbus Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Saturday, April 25th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Corbus Pharmaceuticals in a research report on Monday, April 20th. Oppenheimer lowered their price target on Corbus Pharmaceuticals from $57.00 to $54.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 13th. Finally, Guggenheim reaffirmed a “buy” rating on shares of Corbus Pharmaceuticals in a research report on Tuesday, May 26th. One investment 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 stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $42.00.

Hedge Funds Weigh In On Corbus Pharmaceuticals

Large investors have recently bought and sold shares of the stock. Persistent Asset Partners Ltd acquired a new position in Corbus Pharmaceuticals during the 4th quarter valued at $54,000. ADAR1 Capital Management LLC acquired a new position in Corbus Pharmaceuticals during the 3rd quarter valued at $129,000. Virtu Financial LLC acquired a new position in Corbus Pharmaceuticals during the 4th quarter valued at $88,000. Bank of America Corp DE raised its stake in Corbus Pharmaceuticals by 53,592.3% during the 1st 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. Finally, Barclays PLC raised its stake in Corbus Pharmaceuticals by 280.0% during the 4th quarter. Barclays PLC now owns 14,758 shares of the biopharmaceutical company’s stock valued at $120,000 after purchasing an additional 10,874 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.