Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) Stock Now Rated “Moderate Buy” by Wall Street Brokerages

by · The Cerbat Gem

Shares of Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP – Get Free Report) have received an average rating of “Moderate Buy” from the ten analysts that are currently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating and eight have issued a buy rating on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $41.00.

A number of equities research analysts have weighed in on CRBP shares. HC Wainwright reissued a “buy” rating and issued a $35.00 price target on shares of Corbus Pharmaceuticals in a report on Monday, September 14th. Oppenheimer lowered their price objective on shares of Corbus Pharmaceuticals from $52.00 to $48.00 and set an “outperform” rating on the stock in a research note on Friday, August 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of Corbus Pharmaceuticals in a research note on Friday, July 17th. Wall Street Zen cut shares of Corbus Pharmaceuticals from a “sell” rating to a “strong sell” rating in a report on Saturday, August 8th. Finally, Mizuho set a $33.00 price target on shares of Corbus Pharmaceuticals in a research report on Thursday, August 13th.

Get Our Latest Stock Report on CRBP

Corbus Pharmaceuticals Price Performance

Shares of NASDAQ:CRBP opened at $6.13 on Wednesday. The stock has a market cap of $114.45 million, a price-to-earnings ratio of -0.99 and a beta of 2.63. Corbus Pharmaceuticals has a 12 month low of $6.06 and a 12 month high of $20.56. The stock’s 50 day moving average price is $9.17 and its 200 day moving average price is $9.27.

Corbus Pharmaceuticals (NASDAQ:CRBP – Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The biopharmaceutical company reported ($1.81) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.26) by ($0.55). On average, sell-side analysts expect that Corbus Pharmaceuticals will post -5.62 EPS for the current year.

Insider Transactions at Corbus Pharmaceuticals

In related news, CFO Sean Moran sold 12,000 shares of Corbus Pharmaceuticals stock in a transaction on Friday, August 7th. The stock was sold at an average price of $10.08, for a total value of $120,960.00. Following the transaction, the chief financial officer directly owned 84,694 shares in the company, valued at $853,715.52. The trade was a 12.41% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Yuval Cohen sold 17,000 shares of the company’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $10.08, for a total value of $171,360.00. Following the sale, the chief executive officer directly owned 157,316 shares of the company’s stock, valued at approximately $1,585,745.28. This represents a 9.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 31,000 shares of company stock valued at $308,000 in the last three months. 3.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Pale Fire Capital SE grew its position in Corbus Pharmaceuticals by 14.5% during the 1st quarter. Pale Fire Capital SE now owns 21,350 shares of the biopharmaceutical company’s stock worth $200,000 after purchasing an additional 2,700 shares in the last quarter. Royal Bank of Canada raised its position in Corbus Pharmaceuticals by 81.2% during the first quarter. Royal Bank of Canada now owns 29,901 shares of the biopharmaceutical company’s stock valued at $281,000 after buying an additional 13,401 shares during the period. Bank of America Corp DE lifted its stake in Corbus Pharmaceuticals by 53,592.3% in the 1st quarter. Bank of America Corp DE now owns 13,960 shares of the biopharmaceutical company’s stock worth $131,000 after acquiring an additional 13,934 shares in the last quarter. Engineers Gate Manager LP boosted its position in Corbus Pharmaceuticals by 109.9% during the 2nd quarter. Engineers Gate Manager LP now owns 29,800 shares of the biopharmaceutical company’s stock worth $280,000 after acquiring an additional 15,600 shares during the period. Finally, Seven Fleet Capital Management LP boosted its position in Corbus Pharmaceuticals by 51.0% during the 1st quarter. Seven Fleet Capital Management LP now owns 85,687 shares of the biopharmaceutical company’s stock worth $805,000 after acquiring an additional 28,937 shares during the period. 64.64% of the stock is owned by hedge funds and other institutional investors.

About Corbus Pharmaceuticals

(Get Free Report)

Corbus Pharmaceuticals Holdings, Inc is a biopharmaceutical company focused on developing medicines for serious diseases in oncology and immunology. The company’s research programs are designed to target biological pathways involved in tumor growth, immune regulation and tissue fibrosis.

Corbus’s oncology pipeline includes CRB-701, an antibody-drug conjugate designed to target Nectin-4, a protein expressed on several solid tumors. The company is also developing CRB-601, an investigational monoclonal antibody directed at the alpha v beta 6 integrin, a target associated with tumor biology and fibrotic disease.

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