Yong Ben Sells 2,000 Shares of Corbus Pharmaceuticals (NASDAQ:CRBP) Stock

Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) Director Yong Ben sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of $7.84, for a total transaction of $15,680.00. Following the transaction, the director directly owned 9,383 shares of the company’s stock, valued at $73,562.72. The trade was a 17.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Corbus Pharmaceuticals Stock Up 4.9%

Shares of Corbus Pharmaceuticals stock opened at $7.26 on Thursday. Corbus Pharmaceuticals Holdings, Inc. has a twelve month low of $6.32 and a twelve month high of $20.56. The company’s 50 day moving average is $9.65 and its 200 day moving average is $9.43. The company has a market cap of $135.54 million, a price-to-earnings ratio of -1.17 and a beta of 2.63.

Corbus Pharmaceuticals (NASDAQ:CRBP) last posted its 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). Sell-side analysts expect that Corbus Pharmaceuticals Holdings, Inc. will post -5.62 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Wedbush dropped their target price on Corbus Pharmaceuticals from $38.00 to $30.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 27th. Mizuho set a $33.00 price objective on shares of Corbus Pharmaceuticals in a report on Thursday, August 13th. HC Wainwright reaffirmed a “buy” rating and set a $35.00 target price on shares of Corbus Pharmaceuticals in a report on Monday. Guggenheim reiterated a “buy” rating on shares of Corbus Pharmaceuticals in a research report on Tuesday, May 26th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Corbus Pharmaceuticals in a research note on Friday, July 17th. Eight analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Corbus Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus target price of $41.00.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Bank of America Corp DE increased its holdings in 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 acquiring an additional 13,934 shares in the last quarter. Pale Fire Capital SE lifted its holdings in Corbus Pharmaceuticals by 14.5% during the first quarter. Pale Fire Capital SE now owns 21,350 shares of the biopharmaceutical company’s stock valued at $200,000 after purchasing an additional 2,700 shares in the last quarter. Engineers Gate Manager LP boosted its position in shares of Corbus Pharmaceuticals by 109.9% in the second quarter. Engineers Gate Manager LP now owns 29,800 shares of the biopharmaceutical company’s stock worth $280,000 after purchasing an additional 15,600 shares during the period. Royal Bank of Canada boosted its position in shares of Corbus Pharmaceuticals by 81.2% in the first quarter. Royal Bank of Canada now owns 29,901 shares of the biopharmaceutical company’s stock worth $281,000 after purchasing an additional 13,401 shares during the period. Finally, BRC Group Holdings Inc. purchased a new stake in shares of Corbus Pharmaceuticals in the fourth quarter worth $315,000. 64.64% of the stock is owned by hedge funds and other institutional investors.

Corbus Pharmaceuticals Company Profile

Corbus Pharmaceuticals Holdings, Inc is a biopharmaceutical company focused on developing medicines for serious diseases in oncology and immunology. The company’s research programs are designed to target biological pathways involved in tumor growth, immune regulation and tissue fibrosis.

Corbus’s oncology pipeline includes CRB-701, an antibody-drug conjugate designed to target Nectin-4, a protein expressed on several solid tumors. The company is also developing CRB-601, an investigational monoclonal antibody directed at the alpha v beta 6 integrin, a target associated with tumor biology and fibrotic disease.