Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) CFO Sean F. Moran Sells 1,958 Shares of Stock

Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) CFO Sean F. Moran sold 1,958 shares of Corbus Pharmaceuticals stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $42.12, for a total value of $82,470.96. Following the completion of the transaction, the chief financial officer now owns 48,605 shares in the company, valued at $2,047,242.60. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Corbus Pharmaceuticals Price Performance

CRBP opened at $43.81 on Wednesday. Corbus Pharmaceuticals Holdings, Inc. has a 1-year low of $3.03 and a 1-year high of $55.41. The stock has a market cap of $468.33 million, a P/E ratio of -6.29 and a beta of 2.52. The stock’s 50 day simple moving average is $42.38 and its 200 day simple moving average is $28.74.

Corbus Pharmaceuticals (NASDAQ:CRBP) last posted its earnings results on Tuesday, May 7th. The biopharmaceutical company reported ($0.83) EPS for the quarter, topping analysts’ consensus estimates of ($1.09) by $0.26. Research analysts expect that Corbus Pharmaceuticals Holdings, Inc. will post -5.86 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on CRBP shares. Jefferies Financial Group raised 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 report on Wednesday, March 6th. Royal Bank of Canada upped their price objective on Corbus Pharmaceuticals from $77.00 to $82.00 and gave the stock an “outperform” rating in a report on Tuesday, June 11th. Oppenheimer raised their target price on Corbus Pharmaceuticals from $60.00 to $80.00 and gave the company an “outperform” rating in a report on Monday, June 3rd. Finally, StockNews.com cut shares of Corbus Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Tuesday, June 4th.

Hedge Funds Weigh In On Corbus Pharmaceuticals

Several hedge funds have recently added to or reduced their stakes in the business. Ikarian Capital LLC lifted its holdings 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 valued at $21,946,000 after purchasing an additional 363,372 shares in the last quarter. Janus Henderson Group PLC acquired a new position in shares of Corbus Pharmaceuticals during the 1st quarter worth approximately $13,363,000. Assenagon Asset Management S.A. purchased a new stake in Corbus Pharmaceuticals in the 1st quarter valued at approximately $10,181,000. Vanguard Group Inc. lifted its stake in Corbus Pharmaceuticals by 143.7% in the 1st quarter. Vanguard Group Inc. now owns 437,264 shares of the biopharmaceutical company’s stock valued at $17,158,000 after buying an additional 257,808 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD acquired a new stake in Corbus Pharmaceuticals during the 1st quarter valued at $7,554,000. 64.64% of the stock is currently owned by hedge funds and other 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.