Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) have been given a consensus rating of “Moderate Buy” by the eleven research firms that are currently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, eight have issued a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $44.3750.

A number of research firms have weighed in on CRBP. HC Wainwright reiterated a “buy” rating and issued a $40.00 price target on shares of Corbus Pharmaceuticals in a research report on Monday, October 20th. Piper Sandler reaffirmed an “overweight” rating and issued a $51.00 target price on shares of Corbus Pharmaceuticals in a report on Monday, October 20th. Benchmark reissued a “reduce” rating on shares of Corbus Pharmaceuticals in a report on Monday, October 20th. Weiss Ratings restated a “sell (d-)” rating on shares of Corbus Pharmaceuticals in a research report on Wednesday, January 21st. Finally, Royal Bank Of Canada cut their target price on Corbus Pharmaceuticals from $55.00 to $53.00 and set an “outperform” rating for the company in a research report on Thursday, November 13th.

Corbus Pharmaceuticals Stock Down 3.4%

NASDAQ CRBP opened at $7.56 on Tuesday. Corbus Pharmaceuticals has a 52 week low of $4.64 and a 52 week high of $20.56. The company has a market capitalization of $132.68 million, a P/E ratio of -1.37 and a beta of 2.86. The stock’s 50-day moving average price is $8.39 and its 200-day moving average price is $10.66.

Insider Activity at Corbus Pharmaceuticals

In other Corbus Pharmaceuticals news, major shareholder Cormorant Asset Management, Lp sold 30,029 shares of the stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $11.46, for a total transaction of $344,132.34. Following the completion of the sale, the insider directly owned 2,344,971 shares of the company’s stock, valued at $26,873,367.66. This trade represents a 1.26% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Dominic Smethurst sold 3,285 shares of Corbus Pharmaceuticals stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $8.09, for a total transaction of $26,575.65. Following the sale, the insider owned 95,887 shares in the company, valued at approximately $775,725.83. The trade was a 3.31% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 35,729 shares of company stock valued at $390,245 over the last 90 days. 4.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CRBP. Aberdeen Group plc increased its holdings in shares of Corbus Pharmaceuticals by 602.2% in the fourth quarter. Aberdeen Group plc now owns 1,321,750 shares of the biopharmaceutical company’s stock worth $10,759,000 after purchasing an additional 1,133,519 shares during the last quarter. Prosight Management LP boosted its stake in Corbus Pharmaceuticals by 99.1% during the fourth quarter. Prosight Management LP now owns 683,872 shares of the biopharmaceutical company’s stock valued at $5,567,000 after buying an additional 340,472 shares during the last quarter. Renaissance Technologies LLC grew its holdings in Corbus Pharmaceuticals by 230.5% during the 4th quarter. Renaissance Technologies LLC now owns 354,300 shares of the biopharmaceutical company’s stock valued at $2,884,000 after buying an additional 247,100 shares in the last quarter. AQR Capital Management LLC bought a new stake in Corbus Pharmaceuticals in the 1st quarter worth approximately $573,000. Finally, Assenagon Asset Management S.A. increased its stake in Corbus Pharmaceuticals by 120.2% in the 4th quarter. Assenagon Asset Management S.A. now owns 187,956 shares of the biopharmaceutical company’s stock worth $1,530,000 after acquiring an additional 102,609 shares during the last quarter. Institutional investors own 64.64% of the company’s stock.

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.