Corbus Pharmaceuticals (NASDAQ:CRBP) Trading 5.3% Higher

Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP)’s share price traded up 5.3% during mid-day trading on Monday . The stock traded as high as $48.00 and last traded at $47.66. 64,480 shares were traded during mid-day trading, a decline of 89% from the average session volume of 599,187 shares. The stock had previously closed at $45.25.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Jefferies Financial Group upgraded shares of Corbus Pharmaceuticals from a “hold” rating to a “buy” rating and upped their price objective for the stock from $4.00 to $46.00 in a report on Wednesday, March 6th. B. Riley assumed coverage on Corbus Pharmaceuticals in a research note on Wednesday, June 26th. They set a “buy” rating and a $85.00 price objective for the company. Oppenheimer boosted their target price on Corbus Pharmaceuticals from $60.00 to $80.00 and gave the stock an “outperform” rating in a report on Monday, June 3rd. StockNews.com lowered Corbus Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Tuesday, June 4th. Finally, Royal Bank of Canada upped their target price on shares of Corbus Pharmaceuticals from $77.00 to $82.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 11th. One research analyst has rated the stock with a sell rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $73.25.

Corbus Pharmaceuticals Price Performance

The firm has a fifty day moving average of $43.49 and a 200 day moving average of $31.48.

Corbus Pharmaceuticals (NASDAQ:CRBP) last released its quarterly earnings data on Tuesday, May 7th. The biopharmaceutical company reported ($0.83) earnings per share for the quarter, beating the consensus estimate of ($1.09) by $0.26. On average, analysts predict that Corbus Pharmaceuticals Holdings, Inc. will post -5.11 earnings per share for the current fiscal year.

Insider Transactions at Corbus Pharmaceuticals

In related news, CFO Sean F. Moran sold 1,958 shares of the company’s stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $42.12, for a total transaction of $82,470.96. Following the completion of the sale, the chief financial officer now owns 48,605 shares in the company, valued at $2,047,242.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Corbus Pharmaceuticals news, CEO Yuval Cohen sold 11,103 shares of the business’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $46.02, for a total transaction of $510,960.06. Following the completion of the sale, the chief executive officer now owns 84,400 shares of the company’s stock, valued at $3,884,088. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Sean F. Moran sold 1,958 shares of the company’s stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $42.12, for a total value of $82,470.96. Following the completion of the sale, the chief financial officer now owns 48,605 shares of the company’s stock, valued at approximately $2,047,242.60. The disclosure for this sale can be found here. Insiders have sold a total of 51,733 shares of company stock worth $2,530,799 in the last ninety days. Insiders own 4.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CRBP. Ikarian Capital LLC increased its stake in shares of Corbus Pharmaceuticals by 185.5% in the first quarter. Ikarian Capital LLC now owns 559,271 shares of the biopharmaceutical company’s stock worth $21,946,000 after purchasing an additional 363,372 shares in the last quarter. Janus Henderson Group PLC bought a new stake in Corbus Pharmaceuticals during the first quarter valued at about $13,363,000. Price T Rowe Associates Inc. MD purchased a new position in shares of Corbus Pharmaceuticals in the first quarter valued at about $7,554,000. Altitude Crest Partners Inc. bought a new position in shares of Corbus Pharmaceuticals in the first quarter worth about $4,069,000. Finally, Vanguard Group Inc. boosted its stake in shares of Corbus Pharmaceuticals by 143.7% in the first quarter. Vanguard Group Inc. now owns 437,264 shares of the biopharmaceutical company’s stock worth $17,158,000 after acquiring an additional 257,808 shares during the period. 64.64% of the stock is currently owned by institutional investors.

About Corbus Pharmaceuticals

Corbus Pharmaceuticals Holdings, Inc, a biopharmaceutical company, develops products to defeat serious illness. It develops CRB-701, an antibody drug conjugate (ADC) that targets the expression of Nectin-4 on cancer cells to release a cytotoxic payload of monomethyl auristatin E (MMAE), which is in Phase I clinical trial; CRB-601, an anti-integrin monoclonal antibody that blocks the activation of TGFß expressed on cancer cells for the treatment of solid tumors; CRB-913, a peripherally restricted cannabinoid type-1 (CB1) receptor inverse agonist for the treatment of obesity.