John Kenneth Jenkins Sells 4,800 Shares of Corbus Pharmaceuticals (NASDAQ:CRBP) Stock

Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) Director John Kenneth Jenkins sold 4,800 shares of Corbus Pharmaceuticals stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $7.91, for a total transaction of $37,968.00. Following the transaction, the director owned 3,833 shares of the company’s stock, valued at approximately $30,319.03. The trade was a 55.60% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Corbus Pharmaceuticals Trading Up 5.3%

Shares of CRBP opened at $8.19 on Friday. The stock has a market cap of $151.76 million, a P/E ratio of -1.41 and a beta of 2.57. The company has a 50-day moving average of $9.70 and a two-hundred day moving average of $9.10. Corbus Pharmaceuticals Holdings, Inc. has a 12-month low of $6.72 and a 12-month high of $20.56.

Corbus Pharmaceuticals (NASDAQ:CRBP) last posted its quarterly earnings data on Tuesday, May 12th. The biopharmaceutical company reported ($1.23) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.26) by $0.03. As a group, analysts forecast that Corbus Pharmaceuticals Holdings, Inc. will post -4.87 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CRBP. Mizuho upped their target price on shares of Corbus Pharmaceuticals from $40.00 to $44.00 and gave the company an “outperform” rating in a research note on Friday, May 22nd. Jefferies Financial Group decreased their target price on shares of Corbus Pharmaceuticals from $36.00 to $33.00 and set a “buy” rating for the company in a research note on Tuesday, May 12th. Wedbush decreased their target price on shares of Corbus Pharmaceuticals from $38.00 to $30.00 and set an “outperform” rating for the company in a research note on Wednesday, May 27th. HC Wainwright restated a “buy” rating and issued a $40.00 target price on shares of Corbus Pharmaceuticals in a research note on Tuesday, May 26th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Corbus Pharmaceuticals in a research note on Monday, April 20th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Corbus Pharmaceuticals has a consensus rating of “Moderate Buy” and an average target price of $42.00.

Institutional Trading of Corbus Pharmaceuticals

A number of institutional investors and hedge funds have recently modified their holdings of the business. Seven Fleet Capital Management LP raised its holdings in shares of Corbus Pharmaceuticals by 51.0% during the first quarter. Seven Fleet Capital Management LP now owns 85,687 shares of the biopharmaceutical company’s stock worth $805,000 after purchasing an additional 28,937 shares during the period. Bank of America Corp DE raised its holdings in shares of Corbus Pharmaceuticals by 53,592.3% during the first quarter. Bank of America Corp DE now owns 13,960 shares of the biopharmaceutical company’s stock worth $131,000 after purchasing an additional 13,934 shares during the period. Royal Bank of Canada raised its holdings in shares of Corbus Pharmaceuticals by 81.2% during the first quarter. Royal Bank of Canada now owns 29,901 shares of the biopharmaceutical company’s stock worth $281,000 after purchasing an additional 13,401 shares during the period. Exome Asset Management LLC raised its holdings in shares of Corbus Pharmaceuticals by 67.8% during the first quarter. Exome Asset Management LLC now owns 234,136 shares of the biopharmaceutical company’s stock worth $2,199,000 after purchasing an additional 94,593 shares during the period. Finally, Orbimed Advisors LLC raised its holdings in shares of Corbus Pharmaceuticals by 8.8% during the first quarter. Orbimed Advisors LLC now owns 1,737,287 shares of the biopharmaceutical company’s stock worth $16,313,000 after purchasing an additional 140,000 shares during the period. 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.