Insider Selling: Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) Director Sells $20,455.05 in Stock

Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP - Get Free Report) Director John Kenneth Jenkins sold 2,783 shares of the firm's stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $7.35, for a total value of $20,455.05. Following the transaction, the director now directly owns 33 shares in the company, valued at $242.55. This trade represents a 98.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Corbus Pharmaceuticals Price Performance

NASDAQ:CRBP traded down $0.15 during trading hours on Thursday, reaching $8.32. The company had a trading volume of 20,420 shares, compared to its average volume of 352,440. The business's 50 day moving average price is $6.72 and its 200-day moving average price is $9.61. Corbus Pharmaceuticals Holdings, Inc. has a 1-year low of $4.64 and a 1-year high of $61.90. The firm has a market cap of $101.81 million, a PE ratio of -1.77 and a beta of 3.19.

Corbus Pharmaceuticals (NASDAQ:CRBP - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The biopharmaceutical company reported ($1.39) EPS for the quarter, missing the consensus estimate of ($1.26) by ($0.13). On average, analysts expect that Corbus Pharmaceuticals Holdings, Inc. will post -4.23 earnings per share for the current fiscal year.

Analyst Ratings Changes

CRBP has been the topic of a number of research reports. Royal Bank of Canada dropped their target price on shares of Corbus Pharmaceuticals from $65.00 to $58.00 and set an "outperform" rating on the stock in a report on Wednesday, May 7th. Jefferies Financial Group dropped their price objective on shares of Corbus Pharmaceuticals from $70.00 to $53.00 and set a "buy" rating on the stock in a research note on Tuesday, March 11th. William Blair started coverage on Corbus Pharmaceuticals in a research report on Friday, February 28th. They issued an "outperform" rating on the stock. Wedbush reissued an "outperform" rating and issued a $51.00 price target on shares of Corbus Pharmaceuticals in a research report on Wednesday, March 12th. Finally, Oppenheimer dropped their target price on Corbus Pharmaceuticals from $60.00 to $56.00 and set an "outperform" rating on the stock in a report on Wednesday, May 7th. One analyst has rated the stock with a sell rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $50.88.

Hedge Funds Weigh In On Corbus Pharmaceuticals

Several institutional investors have recently modified their holdings of the business. Acadian Asset Management LLC acquired a new position in shares of Corbus Pharmaceuticals in the first quarter worth $1,007,000. Exome Asset Management LLC acquired a new position in shares of Corbus Pharmaceuticals during the first quarter worth about $1,538,000. AQR Capital Management LLC acquired a new position in Corbus Pharmaceuticals during the 1st quarter worth approximately $573,000. Armistice Capital LLC grew its holdings in Corbus Pharmaceuticals by 5.9% during the 1st quarter. Armistice Capital LLC now owns 250,000 shares of the biopharmaceutical company's stock worth $1,328,000 after acquiring an additional 14,000 shares in the last quarter. Finally, Velan Capital Investment Management LP grew its holdings in Corbus Pharmaceuticals by 4.1% during the 1st quarter. Velan Capital Investment Management LP now owns 59,000 shares of the biopharmaceutical company's stock worth $313,000 after acquiring an additional 2,300 shares in the last quarter. Institutional investors and hedge funds own 64.64% of the company's stock.

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.