Dominic Smethurst Sells 3,285 Shares of Corbus Pharmaceuticals (NASDAQ:CRBP) Stock

Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) insider Dominic Smethurst sold 3,285 shares of Corbus Pharmaceuticals stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $8.09, for a total value of $26,575.65. Following the completion of the transaction, the insider owned 95,887 shares in the company, valued at $775,725.83. This trade represents a 3.31% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Corbus Pharmaceuticals Stock Performance

CRBP stock opened at $7.39 on Friday. Corbus Pharmaceuticals Holdings, Inc. has a one year low of $4.64 and a one year high of $20.56. The firm has a market cap of $129.69 million, a price-to-earnings ratio of -1.34 and a beta of 2.86. The firm has a 50-day simple moving average of $8.80 and a two-hundred day simple moving average of $10.70.

Corbus Pharmaceuticals (NASDAQ:CRBP) last issued its quarterly earnings data on Wednesday, November 12th. The biopharmaceutical company reported ($1.90) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.80) by ($0.10). As a group, equities analysts predict that Corbus Pharmaceuticals Holdings, Inc. will post -4.23 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of CRBP. AQR Capital Management LLC acquired a new stake in shares of Corbus Pharmaceuticals during the first quarter worth about $573,000. Aberdeen Group plc raised its position in Corbus Pharmaceuticals by 168.6% during the 2nd quarter. Aberdeen Group plc now owns 72,226 shares of the biopharmaceutical company’s stock worth $498,000 after buying an additional 45,332 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in Corbus Pharmaceuticals during the 2nd quarter valued at approximately $141,000. Corton Capital Inc. purchased a new stake in shares of Corbus Pharmaceuticals in the 2nd quarter valued at $86,000. Finally, Marshall Wace LLP acquired a new stake in shares of Corbus Pharmaceuticals in the second quarter worth $137,000. 64.64% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Mizuho set a $39.00 price objective on Corbus Pharmaceuticals in a report on Wednesday, October 29th. HC Wainwright reiterated a “buy” rating and issued a $40.00 price target on shares of Corbus Pharmaceuticals in a research note on Monday, October 20th. Benchmark restated a “reduce” rating on shares of Corbus Pharmaceuticals in a research note on Monday, October 20th. Piper Sandler restated an “overweight” rating and set a $51.00 price objective on shares of Corbus Pharmaceuticals in a report on Monday, October 20th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Corbus Pharmaceuticals in a research note on Wednesday, January 21st. One investment 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 stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $44.38.

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.