Corbus Pharmaceuticals (NASDAQ:CRBP) Director Winston Kung Sells 2,026 Shares

Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) Director Winston Kung sold 2,026 shares of the company’s stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $7.91, for a total value of $16,025.66. Following the transaction, the director owned 12,140 shares in the company, valued at $96,027.40. This trade represents a 14.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Corbus Pharmaceuticals Trading Up 1.0%

Shares of CRBP stock traded up $0.08 during midday trading on Thursday, reaching $7.78. 358,322 shares of the stock were exchanged, compared to its average volume of 312,483. Corbus Pharmaceuticals Holdings, Inc. has a 1 year low of $6.72 and a 1 year high of $20.56. The company’s 50 day moving average is $9.77 and its two-hundred day moving average is $9.14. The firm has a market cap of $144.15 million, a PE ratio of -1.34 and a beta of 2.57.

Corbus Pharmaceuticals (NASDAQ:CRBP) last posted its earnings results on Tuesday, May 12th. The biopharmaceutical company reported ($1.23) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.26) by $0.03. As a group, equities analysts expect that Corbus Pharmaceuticals Holdings, Inc. will post -4.87 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Jefferies Financial Group cut their price target on Corbus Pharmaceuticals from $36.00 to $33.00 and set a “buy” rating on the stock in a research note on Tuesday, May 12th. Wedbush cut their price target on Corbus Pharmaceuticals from $38.00 to $30.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 27th. Wall Street Zen upgraded Corbus Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Saturday, April 25th. HC Wainwright reaffirmed a “buy” rating and issued a $40.00 price objective on shares of Corbus Pharmaceuticals in a research report on Tuesday, May 26th. Finally, Mizuho upped their price objective on Corbus Pharmaceuticals from $40.00 to $44.00 and gave the company an “outperform” rating in a research report on Friday, May 22nd. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Corbus Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average price target of $42.00.

Institutional Investors Weigh In On Corbus Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of CRBP. AQR Capital Management LLC purchased a new stake in shares of Corbus Pharmaceuticals in the 1st quarter worth $573,000. Marshall Wace LLP purchased a new stake in shares of Corbus Pharmaceuticals in the 2nd quarter worth $137,000. Bank of America Corp DE increased its stake in shares of Corbus Pharmaceuticals by 333.6% in the 2nd quarter. Bank of America Corp DE now owns 71,893 shares of the biopharmaceutical company’s stock worth $496,000 after purchasing an additional 55,314 shares in the last quarter. Aberdeen Group plc increased its stake in shares of Corbus Pharmaceuticals by 160.6% in the 3rd quarter. Aberdeen Group plc now owns 188,231 shares of the biopharmaceutical company’s stock worth $2,381,000 after purchasing an additional 116,005 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Corbus Pharmaceuticals by 2.1% in the 3rd quarter. Vanguard Group Inc. now owns 612,030 shares of the biopharmaceutical company’s stock worth $7,742,000 after purchasing an additional 12,535 shares in the last quarter. 64.64% of the stock is currently owned by hedge funds and other institutional investors.

About Corbus Pharmaceuticals

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.