Corbus Pharmaceuticals (NASDAQ:CRBP) COO Ian Hodgson Sells 2,415 Shares

Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) COO Ian Hodgson sold 2,415 shares of the company’s stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $8.09, for a total transaction of $19,537.35. Following the sale, the chief operating officer directly owned 51,927 shares in the company, valued at $420,089.43. This represents a 4.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Corbus Pharmaceuticals Trading Down 1.9%

Shares of NASDAQ CRBP opened at $7.95 on Thursday. The company has a market cap of $139.52 million, a PE ratio of -1.44 and a beta of 2.86. The company has a 50-day moving average of $8.89 and a two-hundred day moving average of $10.72. Corbus Pharmaceuticals Holdings, Inc. has a 1-year low of $4.64 and a 1-year high of $20.56.

Corbus Pharmaceuticals (NASDAQ:CRBP) last released its earnings results on Wednesday, November 12th. The biopharmaceutical company reported ($1.90) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.80) by ($0.10). As a group, equities research analysts forecast that Corbus Pharmaceuticals Holdings, Inc. will post -4.23 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Royal Bank Of Canada cut their price objective on shares of Corbus Pharmaceuticals from $55.00 to $53.00 and set an “outperform” rating for the company in a research report on Thursday, November 13th. Mizuho set a $39.00 price target on Corbus Pharmaceuticals in a research report on Wednesday, October 29th. Piper Sandler reaffirmed an “overweight” rating and issued a $51.00 price target on shares of Corbus Pharmaceuticals in a research note on Monday, October 20th. Benchmark reiterated a “reduce” rating on shares of Corbus Pharmaceuticals in a research report on Monday, October 20th. Finally, HC Wainwright reiterated a “buy” rating and set a $40.00 price target on shares of Corbus Pharmaceuticals in a report on Monday, October 20th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $44.38.

Institutional Investors Weigh In On Corbus Pharmaceuticals

A number of institutional investors and hedge funds have recently modified their holdings of the company. ADAR1 Capital Management LLC bought a new position in Corbus Pharmaceuticals in the 3rd quarter worth about $129,000. Corton Capital Inc. purchased a new stake in Corbus Pharmaceuticals in the second quarter worth $86,000. Marshall Wace LLP bought a new stake in Corbus Pharmaceuticals in the second quarter worth $137,000. Baker Avenue Asset Management LP bought a new stake in shares of Corbus Pharmaceuticals in the 2nd quarter worth $138,000. Finally, Y Intercept Hong Kong Ltd purchased a new stake in Corbus Pharmaceuticals during the 2nd quarter valued at $141,000. 64.64% of the stock is owned by hedge funds and other institutional investors.

Corbus Pharmaceuticals Company Profile

Corbus Pharmaceuticals Holdings, Inc is a 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.