Corbus Pharmaceuticals (NASDAQ:CRBP) Cut to "Strong Sell" at Wall Street Zen

Key Points

• Wall Street Zen downgraded Corbus Pharmaceuticals to “strong sell” from “sell,” despite the broader analyst consensus remaining “Moderate Buy” with an average price target of $41.12.
• Corbus shares opened at $10.17, up 4.4%, but the company reported quarterly EPS of -$1.81, missing the consensus estimate of -$1.26; analysts expect a full-year loss of $4.87 per share.
• Institutional investors own 64.64% of the stock, while recent insider activity was mixed: an insider bought 9,000 shares, while insiders sold 9,238 shares worth approximately $73,073 over the past three months.

Corbus Pharmaceuticals (NASDAQ:CRBP - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "sell" rating to a "strong sell" rating in a report released on Saturday.

CRBP has been the subject of a number of other reports. Oppenheimer lowered their price objective on Corbus Pharmaceuticals from $52.00 to $48.00 and set an "outperform" rating for the company in a research report on Friday. Mizuho reduced their target price on Corbus Pharmaceuticals from $44.00 to $34.00 and set an "outperform" rating on the stock in a report on Tuesday, June 23rd. Weiss Ratings restated a "sell (d-)" rating on shares of Corbus Pharmaceuticals in a research report on Friday, July 17th. HC Wainwright reduced their price objective on shares of Corbus Pharmaceuticals from $40.00 to $35.00 and set a "buy" rating on the stock in a research note on Friday. Finally, Guggenheim reiterated a "buy" rating on shares of Corbus Pharmaceuticals in a research report on Tuesday, May 26th. Eight investment analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $41.12.

Corbus Pharmaceuticals Trading Up 4.4%

• Corbus Pharmaceuticals NASDAQ: CRBP Gives a Bold Buy Signal

Corbus Pharmaceuticals stock opened at $10.17 on Friday. The company has a market capitalization of $188.45 million, a PE ratio of -1.64 and a beta of 2.59. The stock has a 50-day moving average price of $8.72 and a two-hundred day moving average price of $9.05. Corbus Pharmaceuticals has a 12 month low of $7.12 and a 12 month high of $20.56.

Corbus Pharmaceuticals (NASDAQ:CRBP - Get Free Report) last released its quarterly earnings results on Tuesday, August 11th. The biopharmaceutical company reported ($1.81) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.26) by ($0.55). As a group, analysts predict that Corbus Pharmaceuticals will post -4.87 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Nishant C. Saxena bought 9,000 shares of the stock in a transaction dated Wednesday, June 3rd. The shares were bought at an average cost of $7.58 per share, with a total value of $68,220.00. Following the completion of the transaction, the insider directly owned 75,300 shares of the company's stock, valued at $570,774. This trade represents a 13.57% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director John Kenneth Jenkins sold 4,800 shares of the stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $7.91, for a total value of $37,968.00. Following the completion of the sale, the director directly owned 3,833 shares of the company's stock, valued at approximately $30,319.03. This trade represents a 55.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 9,238 shares of company stock valued at $73,073 in the last three months. Insiders own 3.50% of the company's stock.

Institutional Trading of Corbus Pharmaceuticals

A number of institutional investors and hedge funds have recently modified their holdings of the business. Orbimed Advisors LLC raised its holdings in shares of Corbus Pharmaceuticals by 8.8% in the 1st 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. Exome Asset Management LLC grew its holdings in Corbus Pharmaceuticals by 67.8% during the first quarter. Exome Asset Management LLC now owns 234,136 shares of the biopharmaceutical company's stock valued at $2,199,000 after purchasing an additional 94,593 shares during the period. Seven Fleet Capital Management LP increased its position in Corbus Pharmaceuticals by 51.0% in the first quarter. Seven Fleet Capital Management LP now owns 85,687 shares of the biopharmaceutical company's stock worth $805,000 after buying an additional 28,937 shares during the last quarter. Bank of America Corp DE increased its position in Corbus Pharmaceuticals by 53,592.3% in the first quarter. Bank of America Corp DE now owns 13,960 shares of the biopharmaceutical company's stock worth $131,000 after buying an additional 13,934 shares during the last quarter. Finally, Royal Bank of Canada raised its stake in shares of Corbus Pharmaceuticals by 81.2% in the first quarter. Royal Bank of Canada now owns 29,901 shares of the biopharmaceutical company's stock valued at $281,000 after buying an additional 13,401 shares during the period. 64.64% of the stock is owned by hedge funds and other institutional investors.

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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