Corbus Pharmaceuticals (NASDAQ:CRBP) CEO Yuval Cohen Sells 17,000 Shares of Stock

Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) CEO Yuval Cohen sold 17,000 shares of the business’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $10.08, for a total transaction of $171,360.00. Following the transaction, the chief executive officer owned 157,316 shares in the company, valued at approximately $1,585,745.28. The trade was a 9.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Corbus Pharmaceuticals Stock Performance

Shares of CRBP traded down $0.71 during trading hours on Monday, reaching $9.46. 335,692 shares of the company traded hands, compared to its average volume of 327,211. The stock’s fifty day moving average is $8.72 and its 200 day moving average is $9.05. Corbus Pharmaceuticals Holdings, Inc. has a 1-year low of $7.12 and a 1-year high of $20.56. The stock has a market cap of $175.29 million, a P/E ratio of -1.53 and a beta of 2.59.

Corbus Pharmaceuticals (NASDAQ:CRBP) last released its earnings results on Thursday, August 6th. The biopharmaceutical company reported ($1.81) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.26) by ($0.55). On average, equities research analysts predict that Corbus Pharmaceuticals Holdings, Inc. will post -4.87 EPS for the current year.

Institutional Investors Weigh In On Corbus Pharmaceuticals

Several large investors have recently made changes to their positions in CRBP. Orbimed Advisors LLC grew its stake in Corbus Pharmaceuticals by 8.8% during the first quarter. Orbimed Advisors LLC now owns 1,737,287 shares of the biopharmaceutical company’s stock worth $16,313,000 after buying an additional 140,000 shares during the last quarter. Prosight Management LP grew its position in Corbus Pharmaceuticals by 99.1% during the 4th quarter. Prosight Management LP now owns 683,872 shares of the biopharmaceutical company’s stock worth $5,567,000 after acquiring an additional 340,472 shares during the last quarter. Vanguard Group Inc. increased its holdings in Corbus Pharmaceuticals by 2.1% during the 3rd quarter. Vanguard Group Inc. now owns 612,030 shares of the biopharmaceutical company’s stock valued at $7,742,000 after purchasing an additional 12,535 shares in the last quarter. Armistice Capital LLC increased its holdings in Corbus Pharmaceuticals by 179.2% during the 4th quarter. Armistice Capital LLC now owns 536,000 shares of the biopharmaceutical company’s stock valued at $4,363,000 after purchasing an additional 344,000 shares in the last quarter. Finally, Renaissance Technologies LLC raised its position in Corbus Pharmaceuticals by 230.5% in the 4th quarter. Renaissance Technologies LLC now owns 354,300 shares of the biopharmaceutical company’s stock valued at $2,884,000 after purchasing an additional 247,100 shares during the last quarter. Institutional investors own 64.64% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on CRBP shares. Jefferies Financial Group cut their target price on Corbus Pharmaceuticals from $36.00 to $33.00 and set a “buy” rating for the company in a research note on Tuesday, May 12th. HC Wainwright lowered their price target on shares of Corbus Pharmaceuticals from $40.00 to $35.00 and set a “buy” rating on the stock in a report on Friday. Mizuho dropped their price objective on shares of Corbus Pharmaceuticals from $44.00 to $34.00 and set an “outperform” rating for the company in a research note on Tuesday, June 23rd. Wedbush reduced their price objective on shares of Corbus Pharmaceuticals from $38.00 to $30.00 and set an “outperform” rating for the company in a report on Wednesday, May 27th. Finally, Guggenheim reiterated a “buy” rating on shares of Corbus Pharmaceuticals in a research report on Tuesday, May 26th. Eight equities research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $41.12.

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.