Corbus Pharmaceuticals Holdings, Inc. $CRBP Stock Holdings Lessened by Seven Fleet Capital Management LP

Seven Fleet Capital Management LP lessened its stake in shares of Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) by 75.0% in the second quarter, according to its most recent filing with the SEC. The fund owned 21,432 shares of the biopharmaceutical company’s stock after selling 64,255 shares during the period. Seven Fleet Capital Management LP owned about 0.11% of Corbus Pharmaceuticals worth $201,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Persistent Asset Partners Ltd acquired a new position in shares of Corbus Pharmaceuticals in the 4th quarter worth $54,000. ADAR1 Capital Management LLC purchased a new stake in shares of Corbus Pharmaceuticals during the third quarter valued at $129,000. Virtu Financial LLC purchased a new stake in shares of Corbus Pharmaceuticals during the fourth quarter valued at $88,000. Bank of America Corp DE boosted its position in shares of Corbus Pharmaceuticals by 53,592.3% in the 1st quarter. Bank of America Corp DE now owns 13,960 shares of the biopharmaceutical company’s stock valued at $131,000 after purchasing an additional 13,934 shares during the period. Finally, Barclays PLC boosted its position in shares of Corbus Pharmaceuticals by 280.0% in the 4th quarter. Barclays PLC now owns 14,758 shares of the biopharmaceutical company’s stock valued at $120,000 after purchasing an additional 10,874 shares during the period. 64.64% of the stock is owned by institutional investors.

Corbus Pharmaceuticals Stock Performance

CRBP stock opened at $11.08 on Friday. The firm has a 50 day simple moving average of $9.75 and a 200 day simple moving average of $9.36. Corbus Pharmaceuticals Holdings, Inc. has a 52 week low of $7.12 and a 52 week high of $20.56. The stock has a market cap of $206.87 million, a P/E ratio of -1.79 and a beta of 2.63.

Corbus Pharmaceuticals (NASDAQ:CRBP) last released its quarterly earnings data on Thursday, August 6th. The biopharmaceutical company reported ($1.81) earnings per share for the quarter, missing the consensus estimate of ($1.26) by ($0.55). Sell-side analysts predict that Corbus Pharmaceuticals Holdings, Inc. will post -5.54 EPS for the current year.

Insider Transactions at Corbus Pharmaceuticals

In other news, CFO Sean F. Moran sold 12,000 shares of Corbus Pharmaceuticals stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $10.08, for a total transaction of $120,960.00. Following the completion of the sale, the chief financial officer directly owned 84,694 shares in the company, valued at $853,715.52. The trade was a 12.41% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Nishant C. Saxena acquired 2,600 shares of the company’s stock in a transaction that occurred on Tuesday, August 11th. The stock was purchased at an average price of $9.63 per share, for a total transaction of $25,038.00. Following the acquisition, the insider directly owned 77,900 shares of the company’s stock, valued at $750,177. The trade was a 3.45% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold a total of 38,238 shares of company stock worth $365,393 in the last ninety days. Company insiders own 3.50% of the company’s stock.

Wall Street Analyst Weigh In

CRBP has been the topic of several recent analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Corbus Pharmaceuticals in a report on Friday, July 17th. Oppenheimer dropped their target price on shares of Corbus Pharmaceuticals from $52.00 to $48.00 and set an “outperform” rating on the stock in a research report on Friday, August 7th. Guggenheim restated a “buy” rating on shares of Corbus Pharmaceuticals in a report on Tuesday, May 26th. Jefferies Financial Group reduced their price target on shares of Corbus Pharmaceuticals from $36.00 to $33.00 and set a “buy” rating for the company in a research report on Tuesday, May 12th. Finally, Mizuho set a $33.00 price objective on shares of Corbus Pharmaceuticals in a research note on Thursday, August 13th. Eight research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $41.00.

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.