Anne Altmeyer Sells 1,060 Shares of Corbus Pharmaceuticals (NASDAQ:CRBP) Stock

Key Points

• Director Anne Altmeyer sold 1,060 shares of Corbus Pharmaceuticals, resulting in a 14.62% decrease in her holdings, with a total sale value of $21,730.
• Corbus Pharmaceuticals stock experienced a 5.9% increase in value, reaching $19.36, while the company has seen a remarkable 342% year-to-date surge.
• Recent analyst ratings include a mix of "buy" and "sell" recommendations, with a consensus rating of "Moderate Buy" and an average price target of $45.86.

Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP - Get Free Report) Director Anne Altmeyer sold 1,060 shares of Corbus Pharmaceuticals stock in a transaction on Monday, October 20th. The stock was sold at an average price of $20.50, for a total value of $21,730.00. Following the completion of the sale, the director directly owned 6,191 shares of the company's stock, valued at $126,915.50. The trade was a 14.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Corbus Pharmaceuticals Stock Up 5.9%

NASDAQ:CRBP traded up $1.08 during mid-day trading on Tuesday, hitting $19.36. 541,342 shares of the company traded hands, compared to its average volume of 197,107. The stock's fifty day moving average price is $12.02 and its 200-day moving average price is $9.23. Corbus Pharmaceuticals Holdings, Inc. has a one year low of $4.64 and a one year high of $20.77. The firm has a market cap of $237.35 million, a price-to-earnings ratio of -4.07 and a beta of 2.84.

Corbus Pharmaceuticals (NASDAQ:CRBP - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The biopharmaceutical company reported ($1.44) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.55) by $0.11. Equities analysts predict that Corbus Pharmaceuticals Holdings, Inc. will post -4.23 EPS for the current year.

Analysts Set New Price Targets

CRBP has been the subject of several recent research reports. Weiss Ratings reissued a "sell (d-)" rating on shares of Corbus Pharmaceuticals in a report on Wednesday, October 8th. HC Wainwright reissued a "buy" rating and set a $40.00 price target on shares of Corbus Pharmaceuticals in a report on Monday. Benchmark restated a "reduce" rating on shares of Corbus Pharmaceuticals in a research report on Monday. Lifesci Capital upgraded Corbus Pharmaceuticals to a "strong-buy" rating in a research report on Saturday, July 12th. Finally, B. Riley upgraded Corbus Pharmaceuticals to a "strong-buy" rating and set a $28.00 price objective on the stock in a research report on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have given a Sell rating to the company. According to data from MarketBeat, Corbus Pharmaceuticals has a consensus rating of "Moderate Buy" and an average target price of $45.86.

Institutional Investors Weigh In On Corbus Pharmaceuticals

A number of hedge funds have recently made changes to their positions in the company. Assenagon Asset Management S.A. purchased a new stake in shares of Corbus Pharmaceuticals in the third quarter worth about $1,080,000. Bank of America Corp DE lifted its position in shares of Corbus Pharmaceuticals by 333.6% in the second quarter. Bank of America Corp DE now owns 71,893 shares of the biopharmaceutical company's stock worth $496,000 after buying an additional 55,314 shares in the last quarter. Baker Avenue Asset Management LP purchased a new stake in shares of Corbus Pharmaceuticals in the second quarter worth about $138,000. Marshall Wace LLP purchased a new stake in shares of Corbus Pharmaceuticals in the second quarter worth about $137,000. Finally, Corton Capital Inc. purchased a new stake in shares of Corbus Pharmaceuticals in the second quarter worth about $86,000. 64.64% of the stock is currently owned by hedge funds and other institutional investors.

Corbus Pharmaceuticals Company Profile

Corbus Pharmaceuticals Holdings, Inc, a biopharmaceutical company, develops products to defeat serious illness. It develops CRB-701, an antibody drug conjugate (ADC) that targets the expression of Nectin-4 on cancer cells to release a cytotoxic payload of monomethyl auristatin E (MMAE), which is in Phase I clinical trial; CRB-601, an anti-integrin monoclonal antibody that blocks the activation of TGFß expressed on cancer cells for the treatment of solid tumors; CRB-913, a peripherally restricted cannabinoid type-1 (CB1) receptor inverse agonist for the treatment of obesity.

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