Corbus Pharmaceuticals (NASDAQ:CRBP) Announces Quarterly Earnings Results, Beats Expectations By $0.53 EPS

Corbus Pharmaceuticals (NASDAQ:CRBP) released its quarterly earnings results on Monday. The biopharmaceutical company reported ($1.25) EPS for the quarter, beating analysts’ consensus estimates of ($1.78) by $0.53, FiscalAI reports.

Corbus Pharmaceuticals Trading Up 4.9%

Shares of NASDAQ:CRBP traded up $0.39 during midday trading on Monday, reaching $8.40. The company had a trading volume of 98,176 shares, compared to its average volume of 169,796. The stock has a market cap of $147.42 million, a P/E ratio of -1.52 and a beta of 2.84. The company’s 50 day moving average price is $8.13 and its 200 day moving average price is $10.54. Corbus Pharmaceuticals has a 52-week low of $4.64 and a 52-week high of $20.56.

Insider Activity

In other Corbus Pharmaceuticals news, major shareholder Cormorant Asset Management, Lp sold 30,029 shares of Corbus Pharmaceuticals stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $11.46, for a total value of $344,132.34. Following the sale, the insider owned 2,344,971 shares of the company’s stock, valued at approximately $26,873,367.66. The trade was a 1.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Dominic Smethurst sold 3,285 shares of the 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 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 35,729 shares of company stock worth $390,245. Insiders own 4.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Virtu Financial LLC purchased a new stake in shares of Corbus Pharmaceuticals in the fourth quarter worth $88,000. Quadrature Capital Ltd purchased a new position in Corbus Pharmaceuticals during the fourth quarter worth about $243,000. Orbimed Advisors LLC grew its position in Corbus Pharmaceuticals by 36.3% during the fourth quarter. Orbimed Advisors LLC now owns 1,597,287 shares of the biopharmaceutical company’s stock worth $13,002,000 after buying an additional 425,000 shares in the last quarter. Engineers Gate Manager LP bought a new position in Corbus Pharmaceuticals in the 4th quarter worth about $140,000. Finally, Caption Management LLC raised its holdings in shares of Corbus Pharmaceuticals by 170.1% in the 4th quarter. Caption Management LLC now owns 56,066 shares of the biopharmaceutical company’s stock valued at $456,000 after acquiring an additional 136,066 shares in the last quarter. 64.64% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Corbus Pharmaceuticals in a research note on Wednesday, January 21st. Royal Bank Of Canada dropped their price target on shares of Corbus Pharmaceuticals from $55.00 to $53.00 and set an “outperform” rating on the stock in a research report on Thursday, November 13th. Finally, Jefferies Financial Group raised shares of Corbus Pharmaceuticals to a “strong-buy” rating in a research report on Wednesday, February 18th. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $44.38.

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.