Corbus Pharmaceuticals (NASDAQ:CRBP) CEO Yuval Cohen Sells 18,660 Shares

Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) CEO Yuval Cohen sold 18,660 shares of the company’s stock in a transaction that occurred on Friday, October 24th. The shares were sold at an average price of $17.01, for a total value of $317,406.60. Following the sale, the chief executive officer owned 138,187 shares in the company, valued at approximately $2,350,560.87. This trade represents a 11.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Yuval Cohen also recently made the following trade(s):

• On Monday, October 27th, Yuval Cohen sold 8,973 shares of Corbus Pharmaceuticals stock. The shares were sold at an average price of $17.14, for a total value of $153,797.22.

Corbus Pharmaceuticals Stock Performance

Shares of NASDAQ CRBP opened at $17.01 on Tuesday. The business’s 50 day moving average price is $12.65 and its 200-day moving average price is $9.59. Corbus Pharmaceuticals Holdings, Inc. has a fifty-two week low of $4.64 and a fifty-two week high of $20.77. The company has a market cap of $208.46 million, a price-to-earnings ratio of -3.57 and a beta of 2.84.

Corbus Pharmaceuticals (NASDAQ:CRBP) last issued its quarterly earnings results on Tuesday, August 5th. The biopharmaceutical company reported ($1.44) earnings per share for the quarter, topping the consensus estimate of ($1.55) by $0.11. Sell-side analysts predict that Corbus Pharmaceuticals Holdings, Inc. will post -4.23 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Comerica Bank boosted its position in Corbus Pharmaceuticals by 20,000,000.0% during the 1st quarter. Comerica Bank now owns 200,001 shares of the biopharmaceutical company’s stock valued at $1,062,000 after acquiring an additional 200,000 shares in the last quarter. Exome Asset Management LLC purchased a new position in shares of Corbus Pharmaceuticals in the 1st quarter valued at $1,538,000. Aberdeen Group plc increased its holdings in shares of Corbus Pharmaceuticals by 168.6% in the 2nd quarter. Aberdeen Group plc now owns 72,226 shares of the biopharmaceutical company’s stock valued at $498,000 after acquiring an additional 45,332 shares during the period. Acadian Asset Management LLC purchased a new position in shares of Corbus Pharmaceuticals in the 1st quarter valued at $1,007,000. Finally, Atle Fund Management AB increased its holdings in shares of Corbus Pharmaceuticals by 78.6% in the 2nd quarter. Atle Fund Management AB now owns 175,582 shares of the biopharmaceutical company’s stock valued at $1,212,000 after acquiring an additional 77,278 shares during the period. 64.64% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CRBP has been the topic of several recent analyst reports. Lifesci Capital upgraded Corbus Pharmaceuticals to a “strong-buy” rating in a report on Saturday, July 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Corbus Pharmaceuticals in a report on Wednesday, October 8th. B. Riley upgraded Corbus Pharmaceuticals to a “strong-buy” rating and set a $28.00 price target on the stock in a report on Wednesday, July 30th. Oppenheimer reduced their price objective on Corbus Pharmaceuticals from $56.00 to $53.00 and set an “outperform” rating on the stock in a report on Wednesday, August 6th. Finally, Wedbush raised their price objective on Corbus Pharmaceuticals from $31.00 to $38.00 and gave the stock an “outperform” rating in a report on Monday, October 20th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $45.86.

Corbus Pharmaceuticals Company Profile

Corbus Pharmaceuticals Holdings, Inc, a biopharmaceutical company, develops products to defeat serious illness. It develops CRB-701, an antibody drug conjugate (ADC) that targets the expression of Nectin-4 on cancer cells to release a cytotoxic payload of monomethyl auristatin E (MMAE), which is in Phase I clinical trial; CRB-601, an anti-integrin monoclonal antibody that blocks the activation of TGFß expressed on cancer cells for the treatment of solid tumors; CRB-913, a peripherally restricted cannabinoid type-1 (CB1) receptor inverse agonist for the treatment of obesity.