Corbus Pharmaceuticals (NASDAQ:CRBP) Director Anne Altmeyer Sells 2,412 Shares of Stock

Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) Director Anne Altmeyer sold 2,412 shares of the business’s stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $7.91, for a total transaction of $19,078.92. Following the transaction, the director owned 7,579 shares in the company, valued at approximately $59,949.89. The trade was a 24.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Corbus Pharmaceuticals Trading Up 1.0%

Shares of CRBP opened at $7.78 on Friday. The company has a market cap of $144.16 million, a price-to-earnings ratio of -1.34 and a beta of 2.57. Corbus Pharmaceuticals Holdings, Inc. has a 1-year low of $6.72 and a 1-year high of $20.56. The company’s fifty day simple moving average is $9.73 and its 200 day simple moving average is $9.11.

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

Hedge Funds Weigh In On Corbus Pharmaceuticals

Institutional investors and hedge funds have recently modified their holdings of the stock. Assenagon Asset Management S.A. increased its holdings in shares of Corbus Pharmaceuticals by 120.2% in the fourth quarter. Assenagon Asset Management S.A. now owns 187,956 shares of the biopharmaceutical company’s stock valued at $1,530,000 after purchasing an additional 102,609 shares during the last quarter. Aberdeen Group plc increased its holdings in shares of Corbus Pharmaceuticals by 602.2% in the fourth quarter. Aberdeen Group plc now owns 1,321,750 shares of the biopharmaceutical company’s stock valued at $10,759,000 after purchasing an additional 1,133,519 shares during the last quarter. HighVista Strategies LLC increased its holdings in shares of Corbus Pharmaceuticals by 56.8% in the third quarter. HighVista Strategies LLC now owns 118,027 shares of the biopharmaceutical company’s stock valued at $1,493,000 after purchasing an additional 42,735 shares during the last quarter. Marshall Wace LLP acquired a new position in shares of Corbus Pharmaceuticals in the second quarter valued at $137,000. Finally, Persistent Asset Partners Ltd acquired a new position in shares of Corbus Pharmaceuticals in the fourth quarter valued at $54,000. 64.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. HC Wainwright restated a “buy” rating and set a $40.00 target price on shares of Corbus Pharmaceuticals in a report on Tuesday, May 26th. Wall Street Zen upgraded shares of Corbus Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Saturday, April 25th. Weiss Ratings restated a “sell (d-)” rating on shares of Corbus Pharmaceuticals in a report on Monday, April 20th. Mizuho boosted their target price on shares of Corbus Pharmaceuticals from $40.00 to $44.00 and gave the stock an “outperform” rating in a report on Friday, May 22nd. Finally, Wedbush lowered their target price on shares of Corbus Pharmaceuticals from $38.00 to $30.00 and set an “outperform” rating on the stock in a report on Wednesday, May 27th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, 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.