Corbus Pharmaceuticals Holdings Inc (NASDAQ:CRBP)’s share price rose 7.8% during trading on Monday after an insider bought additional shares in the company. The company traded as high as $10.50 and last traded at $10.35, with a volume of 2,722,149 shares changing hands. The stock had previously closed at $9.60.
Specifically, insider Barbara White bought 4,233 shares of the firm’s stock in a transaction that occurred on Friday, March 17th. The shares were acquired at an average price of $9.49 per share, with a total value of $40,171.17. Following the acquisition, the insider now owns 166,300 shares of the company’s stock, valued at approximately $1,578,187. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 11.60% of the company’s stock.
A number of equities analysts have commented on the stock. Noble Financial reissued a “buy” rating on shares of Corbus Pharmaceuticals Holdings in a research note on Friday. Cantor Fitzgerald reissued a “buy” rating and issued a $24.00 price target on shares of Corbus Pharmaceuticals Holdings in a research note on Wednesday, April 5th. Finally, JMP Securities reissued an “outperform” rating and issued a $27.00 price target (up previously from $20.00) on shares of Corbus Pharmaceuticals Holdings in a research note on Monday, April 3rd.
The company’s market capitalization is $350.65 million. The company has a 50-day moving average price of $8.58 and a 200-day moving average price of $7.66.
Corbus Pharmaceuticals Holdings (NASDAQ:CRBP) last posted its earnings results on Thursday, March 9th. The biopharmaceutical company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by $0.06. Corbus Pharmaceuticals Holdings had a negative net margin of 785.22% and a negative return on equity of 128.85%. Equities analysts expect that Corbus Pharmaceuticals Holdings Inc will post ($0.64) earnings per share for the current year.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Creative Planning raised its position in Corbus Pharmaceuticals Holdings by 2.4% in the first quarter. Creative Planning now owns 166,950 shares of the biopharmaceutical company’s stock worth $1,377,000 after buying an additional 3,983 shares during the period. Highbridge Capital Management LLC acquired a new position in Corbus Pharmaceuticals Holdings during the fourth quarter worth $450,000. FMR LLC acquired a new position in Corbus Pharmaceuticals Holdings during the fourth quarter worth $9,331,000. Private Advisor Group LLC acquired a new position in Corbus Pharmaceuticals Holdings during the fourth quarter worth $201,000. Finally, Raymond James Financial Services Advisors Inc. raised its position in Corbus Pharmaceuticals Holdings by 6.4% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 382,761 shares of the biopharmaceutical company’s stock worth $3,234,000 after buying an additional 23,000 shares during the period. 25.91% of the stock is owned by hedge funds and other institutional investors.
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Corbus Pharmaceuticals Holdings Company Profile
Corbus Pharmaceuticals Holdings, Inc is a clinical-stage pharmaceutical company. The Company is focused on the development and commercialization of therapeutics to treat rare or uncommon chronic and serious inflammatory and fibrotic diseases. The Company’s segment is developing and commercializing therapeutics to treat rare life-threatening inflammatory fibrotic diseases.
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