Investors Purchase High Volume of Corbus Pharmaceuticals Call Options (NASDAQ:CRBP)

Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) was the recipient of some unusual options trading activity on Monday. Investors purchased 7,228 call options on the stock. This is an increase of approximately 523% compared to the typical daily volume of 1,160 call options.

Corbus Pharmaceuticals Stock Performance

Shares of NASDAQ CRBP traded up $0.35 during mid-day trading on Monday, hitting $8.47. 6,741,912 shares of the stock were exchanged, compared to its average volume of 411,693. Corbus Pharmaceuticals has a twelve month low of $7.12 and a twelve month high of $20.56. The stock’s fifty day simple moving average is $9.77 and its two-hundred day simple moving average is $9.44. The company has a market cap of $158.12 million, a P/E ratio of -1.37 and a beta of 2.63.

Corbus Pharmaceuticals (NASDAQ:CRBP) last announced its earnings results on Thursday, August 6th. The biopharmaceutical company reported ($1.81) EPS for the quarter, missing the consensus estimate of ($1.26) by ($0.55). As a group, equities research analysts predict that Corbus Pharmaceuticals will post -5.62 earnings per share for the current fiscal year.

Insider Buying and Selling at Corbus Pharmaceuticals

In other news, CEO Yuval Cohen sold 17,000 shares of Corbus Pharmaceuticals stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $10.08, for a total transaction of $171,360.00. Following the sale, the chief executive officer directly owned 157,316 shares in the company, valued at approximately $1,585,745.28. The trade was a 9.75% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Sean F. Moran sold 12,000 shares of Corbus Pharmaceuticals stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $10.08, for a total transaction of $120,960.00. Following the sale, the chief financial officer owned 84,694 shares in the company, valued at approximately $853,715.52. This trade represents a 12.41% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 3.50% of the company’s stock.

Institutional Trading of Corbus Pharmaceuticals

Large investors have recently made changes to their positions in the business. Persistent Asset Partners Ltd acquired a new stake in Corbus Pharmaceuticals in the 4th quarter valued at about $54,000. Virtu Financial LLC acquired a new position in Corbus Pharmaceuticals in the fourth quarter valued at about $88,000. Barclays PLC raised its position in shares of Corbus Pharmaceuticals by 280.0% in the 4th quarter. Barclays PLC now owns 14,758 shares of the biopharmaceutical company’s stock valued at $120,000 after acquiring an additional 10,874 shares during the period. ADAR1 Capital Management LLC acquired a new stake in Corbus Pharmaceuticals in the third quarter worth $129,000. Finally, Bank of America Corp DE lifted its holdings in 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 acquiring an additional 13,934 shares in the last quarter. Institutional investors own 64.64% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CRBP. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Corbus Pharmaceuticals in a report on Friday, July 17th. Mizuho set a $33.00 target price on Corbus Pharmaceuticals in a report on Thursday, August 13th. Wall Street Zen lowered Corbus Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 8th. HC Wainwright reiterated a “buy” rating and set a $35.00 price objective on shares of Corbus Pharmaceuticals in a research note on Wednesday, August 26th. Finally, Wedbush cut their price objective on Corbus Pharmaceuticals from $38.00 to $30.00 and set an “outperform” rating for the company in a report on Wednesday, May 27th. Eight research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Corbus Pharmaceuticals presently has an average rating of “Moderate Buy” and an average price target of $41.00.

Corbus Pharmaceuticals Company Profile

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.