Sean Moran Sells 12,000 Shares of Corbus Pharmaceuticals (NASDAQ:CRBP) Stock

Key Points

• CFO Sean Moran sold 12,000 Corbus Pharmaceuticals shares at an average price of $10.08, totaling $120,960 and reducing his direct stake by 12.41% to 84,694 shares.
• Corbus shares fell 7.0% to $9.46, while the company reported a quarterly loss of $1.81 per share—$0.55 worse than analyst expectations.
• Despite mixed analyst actions, Corbus retains a “Moderate Buy” consensus from analysts, with an average price target of $41.12; institutional investors own 64.64% of the stock.

Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP - Get Free Report) CFO Sean Moran sold 12,000 shares of the company's stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $10.08, for a total value of $120,960.00. Following the sale, the chief financial officer directly owned 84,694 shares of the company's stock, valued at $853,715.52. The trade was a 12.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Corbus Pharmaceuticals Stock Down 7.0%

NASDAQ CRBP traded down $0.71 during trading on Monday, hitting $9.46. The company's stock had a trading volume of 335,692 shares, compared to its average volume of 327,211. Corbus Pharmaceuticals Holdings, Inc. has a 52 week low of $7.12 and a 52 week high of $20.56. The firm has a market cap of $175.29 million, a P/E ratio of -1.53 and a beta of 2.59. The firm has a 50 day moving average price of $8.72 and a 200 day moving average price of $9.05.

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

Analyst Ratings Changes

• Corbus Pharmaceuticals NASDAQ: CRBP Gives a Bold Buy Signal

Several research firms have recently issued reports on CRBP. Mizuho dropped their price objective on shares of Corbus Pharmaceuticals from $44.00 to $34.00 and set an "outperform" rating on the stock in a report on Tuesday, June 23rd. Wall Street Zen cut shares of Corbus Pharmaceuticals from a "sell" rating to a "strong sell" rating in a research note on Saturday. Jefferies Financial Group cut their price target on shares of Corbus Pharmaceuticals from $36.00 to $33.00 and set a "buy" rating for the company in a research note on Tuesday, May 12th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Corbus Pharmaceuticals in a report on Friday, July 17th. Finally, Wedbush lowered their price objective on Corbus Pharmaceuticals from $38.00 to $30.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 27th. Eight investment analysts have rated the stock with a Buy rating and two have given a Sell rating to the company's stock. According to MarketBeat, Corbus Pharmaceuticals presently has a consensus rating of "Moderate Buy" and an average price target of $41.12.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in CRBP. Persistent Asset Partners Ltd acquired a new stake in shares of Corbus Pharmaceuticals in the 4th quarter valued at $54,000. Virtu Financial LLC acquired a new stake in shares of Corbus Pharmaceuticals during the 4th quarter worth about $88,000. Barclays PLC increased its position in shares of Corbus Pharmaceuticals by 280.0% during the 4th quarter. Barclays PLC now owns 14,758 shares of the biopharmaceutical company's stock worth $120,000 after purchasing an additional 10,874 shares in the last quarter. ADAR1 Capital Management LLC bought a new position in Corbus Pharmaceuticals during the 3rd quarter valued at about $129,000. Finally, Bank of America Corp DE lifted its holdings in Corbus Pharmaceuticals by 53,592.3% during the 1st quarter. Bank of America Corp DE now owns 13,960 shares of the biopharmaceutical company's stock valued at $131,000 after purchasing an additional 13,934 shares during the last quarter. 64.64% of the stock is owned by institutional investors.

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.

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