Corbus Pharmaceuticals (NASDAQ:CRBP) CEO Yuval Cohen Sells 17,000 Shares of Stock

Key Points

• CEO Yuval Cohen sold 17,000 Corbus Pharmaceuticals shares at an average price of $10.08, generating $171,360. He retained 157,316 shares, representing a 9.75% reduction in his position.
• Corbus shares recently traded at $9.46, with a market capitalization of approximately $175 million. The company reported a quarterly loss of $1.81 per share, missing analyst expectations of a $1.26 loss.
• Despite the earnings miss, institutional investors own 64.64% of the stock, and analysts maintain a “Moderate Buy” consensus with an average price target of $41.12.

Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP - Get Free Report) CEO Yuval Cohen sold 17,000 shares of the business's stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $10.08, for a total transaction of $171,360.00. Following the transaction, the chief executive officer 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Corbus Pharmaceuticals Stock Performance

Shares of CRBP traded down $0.71 during trading hours on Monday, reaching $9.46. 335,692 shares of the company traded hands, compared to its average volume of 327,211. The stock's fifty day moving average is $8.72 and its 200 day moving average is $9.05. Corbus Pharmaceuticals Holdings, Inc. has a 1-year low of $7.12 and a 1-year high of $20.56. The stock has a market cap of $175.29 million, a P/E ratio of -1.53 and a beta of 2.59.

Corbus Pharmaceuticals (NASDAQ:CRBP - Get Free Report) last released its earnings results on Thursday, August 6th. The biopharmaceutical company reported ($1.81) earnings per share for the quarter, missing analysts' consensus estimates of ($1.26) by ($0.55). On average, equities research analysts predict that Corbus Pharmaceuticals Holdings, Inc. will post -4.87 EPS for the current year.

Institutional Investors Weigh In On Corbus Pharmaceuticals

• Corbus Pharmaceuticals NASDAQ: CRBP Gives a Bold Buy Signal

Several large investors have recently made changes to their positions in CRBP. Orbimed Advisors LLC grew its stake in 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 buying an additional 140,000 shares during the last quarter. Prosight Management LP grew its position in Corbus Pharmaceuticals by 99.1% during the 4th quarter. Prosight Management LP now owns 683,872 shares of the biopharmaceutical company's stock worth $5,567,000 after acquiring an additional 340,472 shares during the last quarter. Vanguard Group Inc. increased its holdings in Corbus Pharmaceuticals by 2.1% during the 3rd quarter. Vanguard Group Inc. now owns 612,030 shares of the biopharmaceutical company's stock valued at $7,742,000 after purchasing an additional 12,535 shares in the last quarter. Armistice Capital LLC increased its holdings in Corbus Pharmaceuticals by 179.2% during the 4th quarter. Armistice Capital LLC now owns 536,000 shares of the biopharmaceutical company's stock valued at $4,363,000 after purchasing an additional 344,000 shares in the last quarter. Finally, Renaissance Technologies LLC raised its position in Corbus Pharmaceuticals by 230.5% in the 4th quarter. Renaissance Technologies LLC now owns 354,300 shares of the biopharmaceutical company's stock valued at $2,884,000 after purchasing an additional 247,100 shares during the last quarter. Institutional investors own 64.64% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on CRBP shares. Jefferies Financial Group cut their target price on Corbus Pharmaceuticals from $36.00 to $33.00 and set a "buy" rating for the company in a research note on Tuesday, May 12th. HC Wainwright lowered their price target on shares of Corbus Pharmaceuticals from $40.00 to $35.00 and set a "buy" rating on the stock in a report on Friday. Mizuho dropped their price objective on shares of Corbus Pharmaceuticals from $44.00 to $34.00 and set an "outperform" rating for the company in a research note on Tuesday, June 23rd. Wedbush reduced their price objective on shares of Corbus Pharmaceuticals from $38.00 to $30.00 and set an "outperform" rating for the company in a report on Wednesday, May 27th. Finally, Guggenheim reiterated a "buy" rating on shares of Corbus Pharmaceuticals in a research report on Tuesday, May 26th. Eight equities research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $41.12.

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.

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