Corbus Pharmaceuticals (NASDAQ:CRBP) Shares Pass Above 50-Day Moving Average – Should You Sell?

Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) shares passed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $9.22 and traded as high as $10.88. Corbus Pharmaceuticals shares last traded at $10.69, with a volume of 1,312,374 shares.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Oppenheimer dropped their price objective on Corbus Pharmaceuticals from $52.00 to $48.00 and set an “outperform” rating for the company in a research note on Friday, August 7th. Wedbush dropped their price target on shares of Corbus Pharmaceuticals from $38.00 to $30.00 and set an “outperform” rating for the company in a research report on Wednesday, May 27th. Guggenheim reissued a “buy” rating on shares of Corbus Pharmaceuticals in a report on Tuesday, May 26th. HC Wainwright restated a “buy” rating and issued a $35.00 price objective on shares of Corbus Pharmaceuticals in a research report on Wednesday. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Corbus Pharmaceuticals in a 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.com, the company has a consensus rating of “Moderate Buy” and an average price target of $41.00.

Corbus Pharmaceuticals Trading Down 0.2%

The company has a market capitalization of $210.78 million, a PE ratio of -1.82 and a beta of 2.59. The business’s fifty day moving average is $9.29 and its two-hundred day moving average is $9.18.

Corbus Pharmaceuticals (NASDAQ:CRBP) last announced its quarterly earnings results on Thursday, August 6th. The biopharmaceutical company reported ($1.81) EPS for the quarter, missing analysts’ consensus estimates of ($1.26) by ($0.55). As a group, equities research analysts anticipate that Corbus Pharmaceuticals Holdings, Inc. will post -5.54 EPS for the current year.

Insider Activity at Corbus Pharmaceuticals

In other Corbus Pharmaceuticals news, CFO Sean F. Moran sold 12,000 shares of the company’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $10.08, for a total transaction of $120,960.00. Following the sale, the chief financial officer directly owned 84,694 shares in the company, valued at $853,715.52. This represents a 12.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Nishant C. Saxena acquired 2,600 shares of the business’s stock in a transaction on Tuesday, August 11th. The shares were purchased at an average price of $9.63 per share, for a total transaction of $25,038.00. Following the transaction, the insider directly owned 77,900 shares of the company’s stock, valued at approximately $750,177. The trade was a 3.45% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders have acquired 16,100 shares of company stock worth $126,243 and have sold 38,238 shares worth $365,393. 3.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Corbus Pharmaceuticals

A number of large investors have recently modified their holdings of the company. Persistent Asset Partners Ltd purchased a new position in Corbus Pharmaceuticals during the fourth quarter valued at approximately $54,000. Virtu Financial LLC bought a new stake in shares of Corbus Pharmaceuticals in the 4th quarter valued at about $88,000. Barclays PLC boosted its holdings 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 buying an additional 10,874 shares in the last quarter. ADAR1 Capital Management LLC purchased a new position in shares of Corbus Pharmaceuticals in the 3rd quarter worth approximately $129,000. Finally, Bank of America Corp DE grew 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 worth $131,000 after buying an additional 13,934 shares during the last quarter. Hedge funds and other institutional investors own 64.64% of the company’s stock.

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.