Corbus Pharmaceuticals (NASDAQ:CRBP) Trading Up 5.3%

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

Wall Street Analyst Weigh In

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

Corbus Pharmaceuticals Stock Up 8.1 %

The business’s 50 day simple moving average is $43.05 and its two-hundred day simple moving average is $30.88. The stock has a market cap of $522.95 million, a P/E ratio of -6.88 and a beta of 2.59.

Corbus Pharmaceuticals (NASDAQ:CRBP) last released its earnings results on Tuesday, May 7th. The biopharmaceutical company reported ($0.83) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.09) by $0.26. As a group, research analysts forecast that Corbus Pharmaceuticals Holdings, Inc. will post -5.11 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Yuval Cohen sold 11,103 shares of the company’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $46.02, for a total value of $510,960.06. Following the sale, the chief executive officer now owns 84,400 shares in the company, valued at approximately $3,884,088. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Yuval Cohen sold 11,103 shares of the stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $46.02, for a total transaction of $510,960.06. Following the completion of the transaction, the chief executive officer now directly owns 84,400 shares of the company’s stock, valued at approximately $3,884,088. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Sean F. Moran sold 1,958 shares of the stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $42.12, for a total transaction of $82,470.96. Following the transaction, the chief financial officer now directly owns 48,605 shares of the company’s stock, valued at $2,047,242.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 51,733 shares of company stock worth $2,530,799. Company insiders own 4.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Corbus Pharmaceuticals during the 1st quarter valued at approximately $976,000. Altitude Crest Partners Inc. purchased a new stake in shares of Corbus Pharmaceuticals during the 1st quarter valued at approximately $4,069,000. Price T Rowe Associates Inc. MD purchased a new stake in shares of Corbus Pharmaceuticals during the 1st quarter valued at approximately $7,554,000. Assenagon Asset Management S.A. purchased a new stake in shares of Corbus Pharmaceuticals during the 1st quarter valued at approximately $10,181,000. Finally, Janus Henderson Group PLC purchased a new stake in shares of Corbus Pharmaceuticals during the 1st quarter valued at approximately $13,363,000. 64.64% of the stock is owned by institutional investors.

Corbus Pharmaceuticals Company Profile

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.