Corbus Pharmaceuticals Holdings Inc (NASDAQ:CRBP) insider Barbara White acquired 4,638 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The shares were purchased at an average cost of $6.47 per share, for a total transaction of $30,007.86. Following the completion of the acquisition, the insider now owns 184,159 shares in the company, valued at approximately $1,191,508.73. The acquisition was disclosed in a filing with the SEC, which is accessible through this link.
Shares of NASDAQ CRBP traded up $0.31 during trading hours on Thursday, reaching $6.83. 2,275,625 shares of the stock traded hands, compared to its average volume of 1,711,379. The stock has a market cap of $385.87 million, a price-to-earnings ratio of -6.97 and a beta of 2.17. Corbus Pharmaceuticals Holdings Inc has a 52-week low of $4.50 and a 52-week high of $9.11.
Corbus Pharmaceuticals (NASDAQ:CRBP) last posted its quarterly earnings results on Tuesday, March 12th. The biopharmaceutical company reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.07). Corbus Pharmaceuticals had a negative return on equity of 101.91% and a negative net margin of 1,154.52%. The company had revenue of $1.93 million for the quarter, compared to the consensus estimate of $1.99 million. As a group, sell-side analysts anticipate that Corbus Pharmaceuticals Holdings Inc will post -0.91 earnings per share for the current fiscal year.
CRBP has been the topic of a number of research reports. ValuEngine cut Corbus Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 28th. HC Wainwright initiated coverage on Corbus Pharmaceuticals in a report on Wednesday, December 26th. They set a “buy” rating and a $24.00 price objective on the stock. Cantor Fitzgerald reissued a “buy” rating and set a $38.00 price objective on shares of Corbus Pharmaceuticals in a report on Tuesday. Zacks Investment Research cut Corbus Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Wednesday. Finally, BidaskClub raised Corbus Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Thursday, December 27th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $26.75.
A number of institutional investors and hedge funds have recently bought and sold shares of CRBP. Northern Trust Corp grew its position in Corbus Pharmaceuticals by 7.6% during the 2nd quarter. Northern Trust Corp now owns 572,325 shares of the biopharmaceutical company’s stock worth $2,890,000 after acquiring an additional 40,356 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its position in Corbus Pharmaceuticals by 52.7% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 35,884 shares of the biopharmaceutical company’s stock worth $271,000 after acquiring an additional 12,380 shares during the last quarter. Alliancebernstein L.P. grew its position in Corbus Pharmaceuticals by 61.5% during the 3rd quarter. Alliancebernstein L.P. now owns 55,400 shares of the biopharmaceutical company’s stock worth $418,000 after acquiring an additional 21,100 shares during the last quarter. BlackRock Inc. grew its position in Corbus Pharmaceuticals by 31.7% during the 3rd quarter. BlackRock Inc. now owns 5,220,146 shares of the biopharmaceutical company’s stock worth $39,412,000 after acquiring an additional 1,256,503 shares during the last quarter. Finally, Trexquant Investment LP bought a new stake in shares of Corbus Pharmaceuticals in the 3rd quarter worth approximately $321,000. Institutional investors and hedge funds own 45.31% of the company’s stock.
About Corbus Pharmaceuticals
Corbus Pharmaceuticals Holdings, Inc, a clinical-stage pharmaceutical company, focuses on the development and commercialization of various therapeutics to treat rare, chronic, and serious inflammatory and fibrotic diseases. Its lead product candidate is lenabasum, a synthetic oral endocannabinoid-mimetic drug to resolve chronic inflammation and fibrotic processes in systemic sclerosis, cystic fibrosis, dermatomyositis, and systemic lupus erythematosus diseases.
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