Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) Given Average Rating of “Moderate Buy” by Analysts

Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) has earned a consensus rating of “Moderate Buy” from the ten research firms that are covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating and eight have assigned a buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $41.00.

Several research analysts recently issued reports on the stock. Mizuho set a $33.00 target price on shares of Corbus Pharmaceuticals in a research note on Thursday. Guggenheim reaffirmed a “buy” rating on shares of Corbus Pharmaceuticals in a research note on Tuesday, May 26th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Corbus Pharmaceuticals in a report on Friday, July 17th. HC Wainwright cut their price objective on shares of Corbus Pharmaceuticals from $40.00 to $35.00 and set a “buy” rating on the stock in a research report on Friday, August 7th. Finally, Wall Street Zen downgraded Corbus Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 8th.

Corbus Pharmaceuticals Trading Up 0.1%

CRBP stock opened at $10.09 on Tuesday. The stock has a 50-day moving average price of $8.93 and a 200-day moving average price of $9.09. Corbus Pharmaceuticals has a 1-year low of $7.12 and a 1-year high of $20.56. The firm has a market cap of $188.38 million, a PE ratio of -1.63 and a beta of 2.59.

Corbus Pharmaceuticals (NASDAQ:CRBP) last posted its quarterly earnings results on Thursday, August 6th. The biopharmaceutical company reported ($1.81) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.26) by ($0.55). On average, analysts forecast that Corbus Pharmaceuticals will post -5.54 earnings per share for the current year.

Insider Transactions at Corbus Pharmaceuticals

In related news, CEO Yuval Cohen sold 17,000 shares of Corbus Pharmaceuticals stock in a transaction on Friday, August 7th. The shares were sold at an average price of $10.08, for a total value of $171,360.00. Following the completion of the sale, the chief executive officer owned 157,316 shares of the company’s stock, valued at approximately $1,585,745.28. This trade represents a 9.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Nishant C. Saxena purchased 9,000 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The shares were acquired at an average price of $7.58 per share, with a total value of $68,220.00. Following the purchase, the insider directly owned 75,300 shares in the company, valued at $570,774. This represents a 13.57% increase in their position. The SEC filing for this purchase provides additional information. In the last 90 days, insiders acquired 16,100 shares of company stock valued at $126,243 and sold 38,238 shares valued at $365,393. 3.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Velan Capital Investment Management LP increased its position in shares of Corbus Pharmaceuticals by 3.4% during the third quarter. Velan Capital Investment Management LP now owns 61,000 shares of the biopharmaceutical company’s stock worth $772,000 after acquiring an additional 2,000 shares in the last quarter. Pale Fire Capital SE lifted its position in Corbus Pharmaceuticals by 14.5% in the 1st quarter. Pale Fire Capital SE now owns 21,350 shares of the biopharmaceutical company’s stock valued at $200,000 after acquiring an additional 2,700 shares in the last quarter. Mariner LLC boosted its stake in Corbus Pharmaceuticals by 34.0% during the 3rd quarter. Mariner LLC now owns 20,840 shares of the biopharmaceutical company’s stock valued at $264,000 after purchasing an additional 5,289 shares during the last quarter. Persistent Asset Partners Ltd acquired a new position in Corbus Pharmaceuticals during the 4th quarter valued at about $54,000. Finally, ADAR1 Capital Management LLC bought a new stake in Corbus Pharmaceuticals during the 3rd quarter worth approximately $129,000. 64.64% of the stock is currently owned by institutional investors and hedge funds.

Corbus Pharmaceuticals Company Profile

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.