Corbus Pharmaceuticals (NASDAQ:CRBP) Insider Nishant Saxena Acquires 4,500 Shares

by · The Markets Daily

Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP – Get Free Report) insider Nishant Saxena purchased 4,500 shares of the company’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was acquired at an average price of $7.33 per share, for a total transaction of $32,985.00. Following the purchase, the insider owned 66,300 shares in the company, valued at $485,979. This trade represents a 7.28% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Corbus Pharmaceuticals Trading Down 2.1%

CRBP opened at $7.38 on Thursday. Corbus Pharmaceuticals Holdings, Inc. has a 1-year low of $6.72 and a 1-year high of $20.56. The stock’s fifty day simple moving average is $9.86 and its 200 day simple moving average is $9.28. The stock has a market cap of $136.75 million, a PE ratio of -1.27 and a beta of 2.57.

Corbus Pharmaceuticals (NASDAQ:CRBP – Get Free Report) last posted its earnings results on Tuesday, May 12th. The biopharmaceutical company reported ($1.23) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.26) by $0.03. Equities analysts forecast that Corbus Pharmaceuticals Holdings, Inc. will post -4.87 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Persistent Asset Partners Ltd bought a new position in shares of Corbus Pharmaceuticals during the fourth quarter worth approximately $54,000. ADAR1 Capital Management LLC bought a new position in shares of Corbus Pharmaceuticals during the third quarter worth approximately $129,000. Virtu Financial LLC bought a new position in shares of Corbus Pharmaceuticals during the fourth quarter worth approximately $88,000. Bank of America Corp DE increased its holdings in shares of Corbus Pharmaceuticals by 53,592.3% during the first 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 during the period. Finally, Barclays PLC increased its holdings in shares of Corbus Pharmaceuticals by 280.0% during the fourth quarter. Barclays PLC now owns 14,758 shares of the biopharmaceutical company’s stock worth $120,000 after purchasing an additional 10,874 shares during the period. 64.64% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

CRBP has been the topic of several research analyst reports. Wedbush lowered their price target on shares of Corbus Pharmaceuticals from $38.00 to $30.00 and set an “outperform” rating on the stock in a report on Wednesday, May 27th. Weiss Ratings reissued a “sell (d-)” rating on shares of Corbus Pharmaceuticals in a report on Monday, April 20th. HC Wainwright reissued a “buy” rating and issued a $40.00 price target on shares of Corbus Pharmaceuticals in a report on Tuesday, May 26th. Jefferies Financial Group lowered their price target on shares of Corbus Pharmaceuticals from $36.00 to $33.00 and set a “buy” rating on the stock in a report on Tuesday, May 12th. Finally, Guggenheim reissued a “buy” rating on shares of Corbus Pharmaceuticals in a report on Tuesday, May 26th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given 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 target price of $42.00.

View Our Latest Research Report on CRBP

About Corbus Pharmaceuticals

(Get Free Report)

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.

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