Corbus Pharmaceuticals (NASDAQ:CRBP) Stock Rating Upgraded by Jefferies Financial Group

Corbus Pharmaceuticals (NASDAQ:CRBP) was upgraded by research analysts at Jefferies Financial Group to a “strong-buy” rating in a research note issued on Wednesday,Zacks.com reports.

A number of other analysts also recently issued reports on CRBP. Weiss Ratings reiterated a “sell (d-)” rating on shares of Corbus Pharmaceuticals in a report on Wednesday, January 21st. Royal Bank Of Canada cut their target price on shares of Corbus Pharmaceuticals from $55.00 to $53.00 and set an “outperform” rating for the company in a research note on Thursday, November 13th. Finally, Mizuho set a $39.00 price target on Corbus Pharmaceuticals in a research note on Wednesday, October 29th. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $44.38.

Corbus Pharmaceuticals Trading Up 3.6%

NASDAQ CRBP opened at $7.68 on Wednesday. The company has a 50 day moving average of $8.24 and a 200-day moving average of $10.60. Corbus Pharmaceuticals has a 1-year low of $4.64 and a 1-year high of $20.56. The firm has a market cap of $134.78 million, a price-to-earnings ratio of -1.39 and a beta of 2.86.

Insider Buying and Selling

In other news, major shareholder Cormorant Asset Management, Lp sold 30,029 shares of the business’s stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $11.46, for a total value of $344,132.34. Following the transaction, the insider owned 2,344,971 shares in the company, valued at approximately $26,873,367.66. The trade was a 1.26% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Dominic Smethurst sold 3,285 shares of Corbus Pharmaceuticals stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $8.09, for a total transaction of $26,575.65. Following the transaction, the insider directly owned 95,887 shares of the company’s stock, valued at $775,725.83. This represents a 3.31% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 35,729 shares of company stock valued at $390,245 in the last three months. Insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. AQR Capital Management LLC acquired a new stake in Corbus Pharmaceuticals during the first quarter worth approximately $573,000. Y Intercept Hong Kong Ltd acquired a new stake in shares of Corbus Pharmaceuticals during the 2nd quarter worth approximately $141,000. Corton Capital Inc. bought a new stake in shares of Corbus Pharmaceuticals in the 2nd quarter valued at $86,000. Marshall Wace LLP bought a new stake in shares of Corbus Pharmaceuticals in the 2nd quarter valued at $137,000. Finally, Baker Avenue Asset Management LP acquired a new position in shares of Corbus Pharmaceuticals during the 2nd quarter valued at $138,000. 64.64% of the stock is owned by institutional investors and hedge funds.

About Corbus Pharmaceuticals

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.