Corbus Pharmaceuticals (NASDAQ:CRBP) Trading Down 1.9%

Shares of Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) fell 1.9% on Thursday . The stock traded as low as $51.00 and last traded at $51.02. 17,729 shares were traded during mid-day trading, a decline of 97% from the average session volume of 533,611 shares. The stock had previously closed at $52.01.

Analyst Ratings Changes

CRBP has been the subject of several analyst reports. Wedbush initiated coverage on Corbus Pharmaceuticals in a research note on Tuesday, July 30th. They set an “outperform” rating and a $85.00 price target for the company. Oppenheimer raised their target price on shares of Corbus Pharmaceuticals from $80.00 to $88.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. StockNews.com lowered shares of Corbus Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, August 10th. HC Wainwright reaffirmed a “buy” rating and issued a $80.00 price objective on shares of Corbus Pharmaceuticals in a report on Tuesday, August 6th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $82.00 target price on shares of Corbus Pharmaceuticals in a research note on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $77.67.

Corbus Pharmaceuticals Trading Up 5.6 %

The firm has a market cap of $586.82 million, a PE ratio of -7.47 and a beta of 2.59. The company has a 50 day moving average price of $51.54 and a 200 day moving average price of $41.69.

Corbus Pharmaceuticals (NASDAQ:CRBP) last posted its earnings results on Tuesday, August 6th. The biopharmaceutical company reported ($0.90) EPS for the quarter, topping analysts’ consensus estimates of ($1.19) by $0.29. As a group, equities research analysts anticipate that Corbus Pharmaceuticals Holdings, Inc. will post -4.68 earnings per share for the current fiscal year.

Insider Activity at Corbus Pharmaceuticals

In other Corbus Pharmaceuticals news, CFO Sean F. Moran sold 1,958 shares of the company’s stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $42.12, for a total value of $82,470.96. Following the sale, the chief financial officer now owns 48,605 shares of the company’s stock, valued at $2,047,242.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Yuval Cohen sold 29,317 shares of Corbus Pharmaceuticals stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $50.17, for a total transaction of $1,470,833.89. Following the completion of the sale, the chief executive officer now owns 84,400 shares in the company, valued at approximately $4,234,348. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Sean F. Moran sold 1,958 shares of the business’s stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $42.12, for a total transaction of $82,470.96. Following the completion of the transaction, the chief financial officer now directly 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. In the last three months, insiders have sold 51,733 shares of company stock valued at $2,530,799. Insiders own 4.00% of the company’s stock.

Hedge Funds Weigh In On Corbus Pharmaceuticals

A number of institutional investors have recently modified their holdings of the company. Assenagon Asset Management S.A. purchased a new stake in Corbus Pharmaceuticals in the 1st quarter worth approximately $10,181,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Corbus Pharmaceuticals in the first quarter valued at $976,000. Vanguard Group Inc. lifted its position in Corbus Pharmaceuticals by 143.7% during the first quarter. Vanguard Group Inc. now owns 437,264 shares of the biopharmaceutical company’s stock worth $17,158,000 after buying an additional 257,808 shares during the period. Altitude Crest Partners Inc. acquired a new stake in Corbus Pharmaceuticals in the 1st quarter worth about $4,069,000. Finally, Price T Rowe Associates Inc. MD purchased a new stake in Corbus Pharmaceuticals in the 1st quarter valued at about $7,554,000. Institutional investors and hedge funds own 64.64% of the company’s stock.

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.