Corbus Pharmaceuticals Sees Unusually Large Options Volume (NASDAQ:CRBP)

Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) saw unusually large options trading on Monday. Stock traders bought 7,228 call options on the company. This is an increase of approximately 523% compared to the average volume of 1,160 call options.

Insider Activity

In related news, CFO Sean F. Moran sold 12,000 shares of the 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 completion of the sale, the chief financial officer directly owned 84,694 shares of the company’s stock, valued at approximately $853,715.52. This represents a 12.41% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Yuval Cohen sold 17,000 shares of the stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $10.08, for a total value of $171,360.00. Following the sale, the chief executive officer directly owned 157,316 shares of the company’s stock, valued at approximately $1,585,745.28. The trade was a 9.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 3.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CRBP. Persistent Asset Partners Ltd bought a new position in Corbus Pharmaceuticals in the fourth quarter valued at approximately $54,000. Virtu Financial LLC acquired a new position in shares of Corbus Pharmaceuticals during the 4th quarter worth approximately $88,000. Barclays PLC raised its stake in shares of Corbus Pharmaceuticals by 280.0% during the 4th quarter. Barclays PLC now owns 14,758 shares of the biopharmaceutical company’s stock worth $120,000 after purchasing an additional 10,874 shares in the last quarter. ADAR1 Capital Management LLC bought a new stake in shares of Corbus Pharmaceuticals during the 3rd quarter worth approximately $129,000. Finally, Bank of America Corp DE boosted its holdings 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 buying an additional 13,934 shares during the last quarter. 64.64% of the stock is owned by institutional investors and hedge funds.

Corbus Pharmaceuticals Trading Up 4.3%

Shares of NASDAQ CRBP traded up $0.35 during midday trading on Monday, reaching $8.47. The company’s stock had a trading volume of 6,741,912 shares, compared to its average volume of 411,693. Corbus Pharmaceuticals has a fifty-two week low of $7.12 and a fifty-two week high of $20.56. The stock has a market capitalization of $158.12 million, a price-to-earnings ratio of -1.37 and a beta of 2.63. The stock has a 50 day simple moving average of $9.77 and a 200-day simple moving average of $9.44.

Corbus Pharmaceuticals (NASDAQ:CRBP) last announced its earnings results on Thursday, August 6th. The biopharmaceutical company reported ($1.81) EPS for the quarter, missing the consensus estimate of ($1.26) by ($0.55). As a group, equities analysts anticipate that Corbus Pharmaceuticals will post -5.62 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CRBP. Wedbush reduced their price target on shares of Corbus Pharmaceuticals from $38.00 to $30.00 and set an “outperform” rating for the company in a report on Wednesday, May 27th. Guggenheim restated a “buy” rating on shares of Corbus Pharmaceuticals in a report on Tuesday, May 26th. HC Wainwright reaffirmed a “buy” rating and issued a $35.00 price objective on shares of Corbus Pharmaceuticals in a research report on Wednesday, August 26th. Oppenheimer cut their price objective 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. Finally, Mizuho set a $33.00 target price on shares of Corbus Pharmaceuticals in a research note on Thursday, August 13th. Eight analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average 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.