Corbus Pharmaceuticals (NASDAQ:CRBP) Stock Rating Lowered by StockNews.com

StockNews.com downgraded shares of Corbus Pharmaceuticals (NASDAQ:CRBP) from a hold rating to a sell rating in a research report report published on Wednesday morning.

A number of other equities research analysts also recently issued reports on CRBP. HC Wainwright reaffirmed a buy rating and issued a $80.00 price objective on shares of Corbus Pharmaceuticals in a research report on Monday, July 22nd. Royal Bank of Canada upped their price objective on shares of Corbus Pharmaceuticals from $77.00 to $82.00 and gave the stock an outperform rating in a research report on Tuesday, June 11th. B. Riley began coverage on shares of Corbus Pharmaceuticals in a research report on Wednesday, June 26th. They issued a buy rating and a $85.00 price objective for the company. Finally, Oppenheimer reaffirmed an outperform rating and issued a $80.00 price objective on shares of Corbus Pharmaceuticals in a research report on Wednesday, July 10th. One analyst has rated the stock with a sell rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of $74.60.

Corbus Pharmaceuticals Stock Up 4.7 %

Shares of Corbus Pharmaceuticals stock opened at $58.06 on Wednesday. Corbus Pharmaceuticals has a twelve month low of $3.03 and a twelve month high of $61.18. The stock has a market cap of $620.66 million, a price-to-earnings ratio of -8.34 and a beta of 2.59. The company’s fifty day moving average is $48.89 and its 200 day moving average is $37.47.

Corbus Pharmaceuticals (NASDAQ:CRBP) last released its earnings results on Tuesday, May 7th. The biopharmaceutical company reported ($0.83) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.09) by $0.26. As a group, equities analysts anticipate that Corbus Pharmaceuticals will post -5.05 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Corbus Pharmaceuticals news, CFO Sean F. Moran sold 1,958 shares of Corbus Pharmaceuticals stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $42.12, for a total value of $82,470.96. Following the completion of the transaction, the chief financial officer now directly owns 48,605 shares of the company’s stock, valued at $2,047,242.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Yuval Cohen sold 11,103 shares of Corbus Pharmaceuticals stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $46.02, for a total value of $510,960.06. Following the completion of the sale, the chief executive officer now directly owns 84,400 shares in the company, valued at $3,884,088. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Sean F. Moran sold 1,958 shares of Corbus Pharmaceuticals stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $42.12, for a total transaction of $82,470.96. Following the completion of the sale, the chief financial officer now owns 48,605 shares of the company’s stock, valued at $2,047,242.60. The disclosure for this sale can be found here. Insiders have sold a total of 51,733 shares of company stock valued at $2,530,799 in the last quarter. Insiders own 4.00% of the company’s stock.

Institutional Trading of Corbus Pharmaceuticals

Large investors have recently made changes to their positions in the stock. Assenagon Asset Management S.A. bought a new stake in Corbus Pharmaceuticals during the first quarter valued at approximately $10,181,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in Corbus Pharmaceuticals during the first quarter valued at approximately $976,000. Vanguard Group Inc. grew its position in Corbus Pharmaceuticals by 143.7% during the first quarter. Vanguard Group Inc. now owns 437,264 shares of the biopharmaceutical company’s stock valued at $17,158,000 after buying an additional 257,808 shares during the period. Altitude Crest Partners Inc. bought a new stake in Corbus Pharmaceuticals during the first quarter valued at approximately $4,069,000. Finally, Price T Rowe Associates Inc. MD bought a new stake in Corbus Pharmaceuticals during the first quarter valued at approximately $7,554,000. 64.64% of the stock is currently owned by institutional investors.

About Corbus Pharmaceuticals

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.