Corbus Pharmaceuticals (NASDAQ:CRBP) Insider Buys $25,038.00 in Stock

Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) insider Nishant Saxena bought 2,600 shares of the stock in a transaction dated Tuesday, August 11th. The shares were purchased at an average price of $9.63 per share, with a total value of $25,038.00. Following the completion of the transaction, the insider directly owned 77,900 shares in the company, valued at approximately $750,177. The trade was a 3.45% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Corbus Pharmaceuticals Stock Performance

CRBP stock opened at $10.09 on Friday. The firm has a fifty day moving average price of $8.93 and a 200 day moving average price of $9.09. Corbus Pharmaceuticals Holdings, Inc. has a fifty-two week low of $7.12 and a fifty-two week high of $20.56. The firm has a market cap of $188.39 million, a PE ratio of -1.63 and a beta of 2.59.

Corbus Pharmaceuticals (NASDAQ:CRBP) last announced its quarterly earnings results 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). On average, equities analysts predict that Corbus Pharmaceuticals Holdings, Inc. will post -5.43 EPS for the current year.

Institutional Investors Weigh In On Corbus Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the company. AQR Capital Management LLC bought a new stake in shares of Corbus Pharmaceuticals in the 1st quarter worth about $573,000. Marshall Wace LLP purchased a new position in shares of Corbus Pharmaceuticals during the 2nd quarter worth about $137,000. Bank of America Corp DE grew its holdings in Corbus Pharmaceuticals by 333.6% during the 2nd quarter. Bank of America Corp DE now owns 71,893 shares of the biopharmaceutical company’s stock valued at $496,000 after purchasing an additional 55,314 shares during the last quarter. Vanguard Group Inc. grew its holdings in Corbus Pharmaceuticals by 2.1% during the 3rd quarter. Vanguard Group Inc. now owns 612,030 shares of the biopharmaceutical company’s stock valued at $7,742,000 after purchasing an additional 12,535 shares during the last quarter. Finally, ADAR1 Capital Management LLC bought a new position in Corbus Pharmaceuticals during the 3rd quarter valued at about $129,000. Hedge funds and other institutional investors own 64.64% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CRBP. Guggenheim restated a “buy” rating on shares of Corbus Pharmaceuticals in a research report on Tuesday, May 26th. Oppenheimer dropped their price target on Corbus Pharmaceuticals from $52.00 to $48.00 and set an “outperform” rating for the company in a research report on Friday, August 7th. Wall Street Zen cut Corbus Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 8th. Mizuho set a $33.00 price objective on Corbus Pharmaceuticals in a research report on Thursday. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Corbus Pharmaceuticals in a research report on Friday, July 17th. Eight investment analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Corbus Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus price target 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.