Nishant Saxena Buys 2,600 Shares of Corbus Pharmaceuticals (NASDAQ:CRBP) Stock

Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) insider Nishant Saxena purchased 2,600 shares of the stock in a transaction on Tuesday, August 11th. The shares were acquired 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 $750,177. This represents a 3.45% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Corbus Pharmaceuticals Price Performance

Corbus Pharmaceuticals stock opened at $10.08 on Friday. The stock has a market capitalization of $188.19 million, a PE ratio of -1.63 and a beta of 2.59. Corbus Pharmaceuticals Holdings, Inc. has a 12 month low of $7.12 and a 12 month high of $20.56. The business has a 50 day simple moving average of $8.88 and a 200-day simple moving average of $9.08.

Corbus Pharmaceuticals (NASDAQ:CRBP) last announced its earnings results on Thursday, August 6th. The biopharmaceutical company reported ($1.81) earnings per share for the quarter, missing the consensus estimate of ($1.26) by ($0.55). On average, equities research analysts anticipate that Corbus Pharmaceuticals Holdings, Inc. will post -5.43 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CRBP has been the topic of several recent analyst reports. Wedbush decreased their price objective 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. Weiss Ratings reissued a “sell (d-)” rating on shares of Corbus Pharmaceuticals in a research note on Friday, July 17th. HC Wainwright reduced their price target on shares of Corbus Pharmaceuticals from $40.00 to $35.00 and set a “buy” rating for the company in a research report on Friday, August 7th. Jefferies Financial Group decreased their price target on shares of Corbus Pharmaceuticals from $36.00 to $33.00 and set a “buy” rating on the stock in a research note on Tuesday, May 12th. Finally, Guggenheim reiterated a “buy” rating on shares of Corbus Pharmaceuticals in a report on Tuesday, May 26th. Eight research analysts have rated the stock with a Buy rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $41.00.

Institutional Investors Weigh In On Corbus Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in CRBP. Velan Capital Investment Management LP raised its position in shares of Corbus Pharmaceuticals by 3.4% in the third quarter. Velan Capital Investment Management LP now owns 61,000 shares of the biopharmaceutical company’s stock valued at $772,000 after buying an additional 2,000 shares during the last quarter. Pale Fire Capital SE boosted its position 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 worth $200,000 after acquiring an additional 2,700 shares during the last quarter. Mariner LLC grew its stake in Corbus Pharmaceuticals by 34.0% during the 3rd quarter. Mariner LLC now owns 20,840 shares of the biopharmaceutical company’s stock valued at $264,000 after acquiring an additional 5,289 shares in the last quarter. Persistent Asset Partners Ltd purchased a new stake in Corbus Pharmaceuticals during the 4th quarter valued at about $54,000. Finally, ADAR1 Capital Management LLC acquired a new stake in Corbus Pharmaceuticals in the 3rd quarter valued at about $129,000. Institutional investors and hedge funds own 64.64% of the company’s stock.

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.