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

Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) Director Winston Kung sold 2,026 shares of the stock in a transaction that occurred on Wednesday, June 10th. The shares were 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 of the company’s stock, valued at approximately $96,027.40. This trade represents a 14.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Corbus Pharmaceuticals Price Performance

Shares of CRBP opened at $8.19 on Friday. The business’s fifty day moving average price is $9.70 and its 200 day moving average price is $9.10. Corbus Pharmaceuticals Holdings, Inc. has a 12-month low of $6.72 and a 12-month high of $20.56. The stock has a market capitalization of $151.76 million, a PE ratio of -1.41 and a beta of 2.57.

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

Hedge Funds Weigh In On Corbus Pharmaceuticals

Institutional investors have recently bought and sold shares of the stock. Seven Fleet Capital Management LP boosted its position in Corbus Pharmaceuticals by 51.0% during the 1st quarter. Seven Fleet Capital Management LP now owns 85,687 shares of the biopharmaceutical company’s stock worth $805,000 after acquiring an additional 28,937 shares during the period. Bank of America Corp DE boosted its position in Corbus Pharmaceuticals by 53,592.3% during the 1st quarter. Bank of America Corp DE now owns 13,960 shares of the biopharmaceutical company’s stock worth $131,000 after acquiring an additional 13,934 shares during the period. Royal Bank of Canada boosted its position in Corbus Pharmaceuticals by 81.2% during the 1st quarter. Royal Bank of Canada now owns 29,901 shares of the biopharmaceutical company’s stock worth $281,000 after acquiring an additional 13,401 shares during the period. Exome Asset Management LLC boosted its position in Corbus Pharmaceuticals by 67.8% during the 1st quarter. Exome Asset Management LLC now owns 234,136 shares of the biopharmaceutical company’s stock worth $2,199,000 after acquiring an additional 94,593 shares during the period. Finally, Orbimed Advisors LLC boosted its position in Corbus Pharmaceuticals by 8.8% during the 1st quarter. Orbimed Advisors LLC now owns 1,737,287 shares of the biopharmaceutical company’s stock worth $16,313,000 after acquiring an additional 140,000 shares during the period. Hedge funds and other institutional investors own 64.64% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on CRBP. Guggenheim reissued a “buy” rating on shares of Corbus Pharmaceuticals in a report on Tuesday, May 26th. Oppenheimer lowered their price target on Corbus Pharmaceuticals from $57.00 to $54.00 and set an “outperform” rating on the stock in a report on Wednesday, May 13th. Wall Street Zen raised Corbus Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Saturday, April 25th. Mizuho raised their price target on Corbus Pharmaceuticals from $40.00 to $44.00 and gave the company an “outperform” rating in a report on Friday, May 22nd. Finally, HC Wainwright reissued a “buy” rating and set a $40.00 price target on shares of Corbus Pharmaceuticals in a report on Tuesday, May 26th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $42.00.

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.