Investment Analysts’ Weekly Ratings Changes for Corbus Pharmaceuticals (CRBP)

Corbus Pharmaceuticals (NASDAQ: CRBP) recently received a number of ratings updates from brokerages and research firms:

• 5/25/2024 – Corbus Pharmaceuticals was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.
• 5/17/2024 – Corbus Pharmaceuticals was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.
• 5/13/2024 – Corbus Pharmaceuticals is now covered by analysts at Royal Bank of Canada. They set an “outperform” rating and a $77.00 price target on the stock.
• 5/9/2024 – Corbus Pharmaceuticals was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.
• 5/8/2024 – Corbus Pharmaceuticals had its price target raised by analysts at Oppenheimer Holdings Inc. from $58.00 to $60.00. They now have an “outperform” rating on the stock.

Corbus Pharmaceuticals Stock Performance

Shares of CRBP stock opened at $45.02 on Monday. Corbus Pharmaceuticals Holdings, Inc. has a 1 year low of $3.03 and a 1 year high of $50.42. The stock has a market cap of $481.26 million, a PE ratio of -6.47 and a beta of 2.46. The business’s fifty day moving average is $39.76 and its 200-day moving average is $23.75.

Corbus Pharmaceuticals (NASDAQ:CRBP) last issued its earnings results on Tuesday, May 7th. The biopharmaceutical company reported ($0.83) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.09) by $0.26. Equities research analysts predict that Corbus Pharmaceuticals Holdings, Inc. will post -5.86 earnings per share for the current year.

Insider Transactions at Corbus Pharmaceuticals

In other news, major shareholder Cormorant Asset Management, Lp acquired 250,000 shares of Corbus Pharmaceuticals stock in a transaction that occurred on Thursday, March 7th. The stock was purchased at an average price of $40.05 per share, with a total value of $10,012,500.00. Following the completion of the transaction, the insider now owns 1,725,000 shares in the company, valued at $69,086,250. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 4.00% of the stock is currently owned by insiders.

Institutional Trading of Corbus Pharmaceuticals

Institutional investors and hedge funds have recently made changes to their positions in the stock. Ikarian Capital LLC increased its stake in shares of Corbus Pharmaceuticals by 185.5% in the first quarter. Ikarian Capital LLC now owns 559,271 shares of the biopharmaceutical company’s stock worth $21,946,000 after purchasing an additional 363,372 shares during the period. Janus Henderson Group PLC bought a new position in shares of Corbus Pharmaceuticals in the first quarter worth about $13,363,000. Assenagon Asset Management S.A. bought a new position in shares of Corbus Pharmaceuticals in the first quarter worth about $10,181,000. Vanguard Group Inc. increased its stake in shares of Corbus Pharmaceuticals by 143.7% in the first quarter. Vanguard Group Inc. now owns 437,264 shares of the biopharmaceutical company’s stock worth $17,158,000 after purchasing an additional 257,808 shares during the period. Finally, Price T Rowe Associates Inc. MD bought a new position in shares of Corbus Pharmaceuticals in the first quarter worth about $7,554,000. Institutional investors and hedge funds own 64.64% of the company’s stock.

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.