Corbus Pharmaceuticals (NASDAQ:CRBP) Director John Kenneth Jenkins Sells 4,800 Shares

Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) Director John Kenneth Jenkins sold 4,800 shares of the business’s stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $7.91, for a total value of $37,968.00. Following the completion of the sale, the director owned 3,833 shares of the company’s stock, valued at approximately $30,319.03. This trade represents a 55.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Corbus Pharmaceuticals Trading Up 1.0%

Shares of CRBP stock opened at $7.78 on Friday. The stock has a market cap of $144.16 million, a P/E ratio of -1.34 and a beta of 2.57. The stock has a 50 day simple moving average of $9.73 and a 200 day simple moving average of $9.11. Corbus Pharmaceuticals Holdings, Inc. has a 1 year low of $6.72 and a 1 year high of $20.56.

Corbus Pharmaceuticals (NASDAQ:CRBP) last issued its quarterly earnings results on Tuesday, May 12th. The biopharmaceutical company reported ($1.23) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.26) by $0.03. Analysts forecast that Corbus Pharmaceuticals Holdings, Inc. will post -4.87 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on CRBP shares. HC Wainwright reiterated a “buy” rating and set a $40.00 price target on shares of Corbus Pharmaceuticals in a report on Tuesday, May 26th. Oppenheimer lowered their price target on shares of Corbus Pharmaceuticals from $57.00 to $54.00 and set an “outperform” rating for the company in a report on Wednesday, May 13th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Corbus Pharmaceuticals in a report on Monday, April 20th. Mizuho upped their price target 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, Jefferies Financial Group decreased their price objective on Corbus Pharmaceuticals from $36.00 to $33.00 and set a “buy” rating for the company in a report on Tuesday, May 12th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $42.00.

Institutional Trading of Corbus Pharmaceuticals

A number of institutional investors have recently bought and sold shares of the company. Seven Fleet Capital Management LP boosted its position in shares of Corbus Pharmaceuticals by 51.0% during the 1st quarter. Seven Fleet Capital Management LP now owns 85,687 shares of the biopharmaceutical company’s stock worth $805,000 after purchasing an additional 28,937 shares in the last quarter. Bank of America Corp DE boosted its position in shares of Corbus Pharmaceuticals by 53,592.3% during the 1st quarter. Bank of America Corp DE now owns 13,960 shares of the biopharmaceutical company’s stock worth $131,000 after purchasing an additional 13,934 shares in the last quarter. Royal Bank of Canada boosted its position in shares of Corbus Pharmaceuticals by 81.2% during the 1st 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 in the last quarter. Exome Asset Management LLC boosted its position in shares of Corbus Pharmaceuticals by 67.8% during the 1st quarter. Exome Asset Management LLC now owns 234,136 shares of the biopharmaceutical company’s stock worth $2,199,000 after purchasing an additional 94,593 shares in the last quarter. Finally, Orbimed Advisors LLC boosted its position in shares of Corbus Pharmaceuticals by 8.8% during the 1st quarter. Orbimed Advisors LLC now owns 1,737,287 shares of the biopharmaceutical company’s stock worth $16,313,000 after purchasing an additional 140,000 shares in the last quarter. Institutional investors 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.