Corbus Pharmaceuticals (NASDAQ:CRBP) Releases Earnings Results

Corbus Pharmaceuticals (NASDAQ:CRBP) issued its earnings results on Monday. The biopharmaceutical company reported ($1.25) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.78) by $0.53, FiscalAI reports.

Corbus Pharmaceuticals Stock Performance

Corbus Pharmaceuticals stock opened at $8.02 on Monday. Corbus Pharmaceuticals has a 52 week low of $4.64 and a 52 week high of $20.56. The firm has a market capitalization of $140.75 million, a PE ratio of -1.46 and a beta of 2.84. The business’s 50-day simple moving average is $8.13 and its 200-day simple moving average is $10.54.

Insider Activity at Corbus Pharmaceuticals

In related news, insider Dominic Smethurst sold 3,285 shares of the stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $8.09, for a total transaction of $26,575.65. Following the completion of the sale, the insider owned 95,887 shares in the company, valued at $775,725.83. This represents a 3.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Cormorant Asset Management, Lp sold 30,029 shares of the firm’s stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $11.46, for a total value of $344,132.34. Following the completion of the sale, the insider directly owned 2,344,971 shares in the company, valued at $26,873,367.66. This trade represents a 1.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 35,729 shares of company stock valued at $390,245. 4.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Corbus Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Persistent Asset Partners Ltd acquired a new position in shares of Corbus Pharmaceuticals in the 4th quarter valued at $54,000. Virtu Financial LLC bought a new position in Corbus Pharmaceuticals during the fourth quarter worth about $88,000. Barclays PLC boosted its holdings in Corbus Pharmaceuticals by 280.0% during the fourth quarter. Barclays PLC now owns 14,758 shares of the biopharmaceutical company’s stock valued at $120,000 after purchasing an additional 10,874 shares in the last quarter. ADAR1 Capital Management LLC bought a new stake in shares of Corbus Pharmaceuticals in the 3rd quarter valued at approximately $129,000. Finally, Marshall Wace LLP bought a new stake in shares of Corbus Pharmaceuticals in the 2nd quarter valued at approximately $137,000. Institutional investors and hedge funds own 64.64% of the company’s stock.

Wall Street Analyst Weigh In

CRBP has been the subject of a number of research reports. Royal Bank Of Canada reduced their price objective on Corbus Pharmaceuticals from $55.00 to $53.00 and set an “outperform” rating for the company in a research report on Thursday, November 13th. Jefferies Financial Group raised Corbus Pharmaceuticals to a “strong-buy” rating in a research report on Wednesday, February 18th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Corbus Pharmaceuticals in a research note on Wednesday, January 21st. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $44.38.

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.