Corbus Pharmaceuticals Holdings Inc (CRBP) Stock Price Up 7.8% on Insider Buying Activity

Corbus Pharmaceuticals Holdings Inc (NASDAQ:CRBP)’s share price rose 7.8% during mid-day 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. The stock had previously closed at $9.60.

Specifically, insider Barbara White purchased 4,233 shares of the business’s stock in a transaction dated Friday, March 17th. The stock was bought at an average cost of $9.49 per share, with a total value of $40,171.17. Following the purchase, the insider now directly owns 166,300 shares of the company’s stock, valued at $1,578,187. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. 11.60% of the stock is owned by company insiders.

CRBP has been the topic of a number of recent analyst reports. Aegis reissued a “buy” rating and issued a $12.00 price objective on shares of Corbus Pharmaceuticals Holdings in a research note on Wednesday, November 30th. Cantor Fitzgerald reissued a “buy” rating and issued a $17.00 price objective on shares of Corbus Pharmaceuticals Holdings in a research note on Tuesday, March 14th. Finally, Noble Financial reissued a “buy” rating on shares of Corbus Pharmaceuticals Holdings in a research note on Sunday, March 12th.

The stock’s 50 day moving average price is $8.19 and its 200-day moving average price is $7.50. The firm’s market cap is $504.06 million.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Milestone Group Inc. acquired a new position in Corbus Pharmaceuticals Holdings during the third quarter worth about $102,000. Bainco International Investors purchased a new position in Corbus Pharmaceuticals Holdings during the third quarter valued at $136,000. Private Advisor Group LLC purchased a new position in Corbus Pharmaceuticals Holdings during the fourth quarter valued at $201,000. Gilder Gagnon Howe & Co. LLC purchased a new position in Corbus Pharmaceuticals Holdings during the third quarter valued at $508,000. Finally, Russell Investments Group Ltd. purchased a new position in Corbus Pharmaceuticals Holdings during the fourth quarter valued at $854,000. 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.

5 Day Chart for NASDAQ:CRBP

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