Corbus Pharmaceuticals (NASDAQ:CRBP) Shares Up 7.5%

Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP)’s stock price traded up 7.5% during trading on Monday . The stock traded as high as $57.71 and last traded at $57.54. 293,317 shares traded hands during trading, a decline of 45% from the average session volume of 531,148 shares. The stock had previously closed at $53.52.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. StockNews.com lowered Corbus Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday, August 10th. Oppenheimer increased their price objective on Corbus Pharmaceuticals from $80.00 to $88.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. HC Wainwright reissued a “buy” rating and issued a $80.00 price objective on shares of Corbus Pharmaceuticals in a report on Tuesday, August 6th. B. Riley started coverage on Corbus Pharmaceuticals in a report on Wednesday, June 26th. They issued a “buy” rating and a $85.00 price objective for the company. Finally, Wedbush started coverage on Corbus Pharmaceuticals in a report on Tuesday, July 30th. They issued an “outperform” rating and a $85.00 price objective for the company. One analyst has rated the stock with a sell rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $77.67.

Corbus Pharmaceuticals Stock Performance

The business has a 50 day simple moving average of $52.53 and a 200-day simple moving average of $42.81. The stock has a market capitalization of $657.78 million, a P/E ratio of -8.84 and a beta of 2.59.

Corbus Pharmaceuticals (NASDAQ:CRBP) last issued its quarterly earnings results on Tuesday, August 6th. The biopharmaceutical company reported ($0.90) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.19) by $0.29. Equities research analysts forecast that Corbus Pharmaceuticals Holdings, Inc. will post -4.68 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Sean F. Moran sold 1,958 shares of Corbus Pharmaceuticals stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $42.12, for a total value of $82,470.96. Following the transaction, the chief financial officer now directly owns 48,605 shares in the company, valued at approximately $2,047,242.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Sean F. Moran sold 1,958 shares of the firm’s stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $42.12, for a total value of $82,470.96. Following the completion of the sale, the chief financial officer now owns 48,605 shares of the company’s stock, valued at $2,047,242.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Yuval Cohen sold 11,103 shares of the firm’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $46.02, for a total value of $510,960.06. Following the completion of the sale, the chief executive officer now directly owns 84,400 shares of the company’s stock, valued at approximately $3,884,088. The disclosure for this sale can be found here. Insiders have sold 51,733 shares of company stock worth $2,530,799 in the last three months. 4.00% of the stock is currently owned by insiders.

Institutional Trading of Corbus Pharmaceuticals

Hedge funds and other institutional investors have recently modified their holdings of the business. Ikarian Capital LLC boosted its position in Corbus Pharmaceuticals by 185.5% during the first quarter. Ikarian Capital LLC now owns 559,271 shares of the biopharmaceutical company’s stock valued at $21,946,000 after purchasing an additional 363,372 shares during the last quarter. Janus Henderson Group PLC acquired a new stake in Corbus Pharmaceuticals during the first quarter valued at $13,363,000. Darwin Global Management Ltd. acquired a new stake in Corbus Pharmaceuticals during the second quarter valued at $14,267,000. Assenagon Asset Management S.A. acquired a new stake in Corbus Pharmaceuticals during the first quarter valued at $10,181,000. Finally, Vanguard Group Inc. boosted its position in Corbus Pharmaceuticals by 143.7% during the first quarter. Vanguard Group Inc. now owns 437,264 shares of the biopharmaceutical company’s stock valued at $17,158,000 after purchasing an additional 257,808 shares during the last quarter. Institutional investors and hedge funds own 64.64% of the company’s stock.

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.