Corbus Pharmaceuticals (NASDAQ:CRBP) Upgraded at Jefferies Financial Group

Jefferies Financial Group upgraded shares of Corbus Pharmaceuticals (NASDAQ:CRBP) to a strong-buy rating in a report released on Wednesday,Zacks.com reports.

Other equities analysts have also recently issued reports about the company. Mizuho set a $39.00 price objective on Corbus Pharmaceuticals in a research note on Wednesday, October 29th. Weiss Ratings restated a “sell (d-)” rating on shares of Corbus Pharmaceuticals in a research report on Wednesday, January 21st. Finally, Royal Bank Of Canada cut their target price on shares of Corbus Pharmaceuticals from $55.00 to $53.00 and set an “outperform” rating on the stock in a report on Thursday, November 13th. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, Corbus Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus price target of $44.38.

Corbus Pharmaceuticals Stock Performance

NASDAQ:CRBP opened at $7.42 on Wednesday. The company has a market capitalization of $130.22 million, a price-to-earnings ratio of -1.35 and a beta of 2.86. Corbus Pharmaceuticals has a one year low of $4.64 and a one year high of $20.56. The stock has a 50-day simple moving average of $8.20 and a 200 day simple moving average of $10.59.

Insider Activity

In other Corbus Pharmaceuticals news, major shareholder Cormorant Asset Management, Lp sold 30,029 shares of the stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $11.46, for a total transaction of $344,132.34. Following the completion of the transaction, the insider directly owned 2,344,971 shares of the company’s stock, valued at approximately $26,873,367.66. This trade represents a 1.26% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Dominic Smethurst sold 3,285 shares of the business’s stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $8.09, for a total value of $26,575.65. Following the completion of the sale, the insider directly owned 95,887 shares in the company, valued at $775,725.83. This represents a 3.31% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 35,729 shares of company stock valued at $390,245 in the last ninety days. Corporate insiders own 3.60% of the company’s stock.

Hedge Funds Weigh In On Corbus Pharmaceuticals

Several hedge funds have recently made changes to their positions in CRBP. Orbimed Advisors LLC lifted its stake in Corbus Pharmaceuticals by 36.3% during the fourth quarter. Orbimed Advisors LLC now owns 1,597,287 shares of the biopharmaceutical company’s stock valued at $13,002,000 after purchasing an additional 425,000 shares during the last quarter. Aberdeen Group plc boosted its stake in shares of Corbus Pharmaceuticals by 602.2% during the 4th quarter. Aberdeen Group plc now owns 1,321,750 shares of the biopharmaceutical company’s stock worth $10,759,000 after acquiring an additional 1,133,519 shares in the last quarter. Prosight Management LP grew its holdings in shares of Corbus Pharmaceuticals by 99.1% in the 4th quarter. Prosight Management LP now owns 683,872 shares of the biopharmaceutical company’s stock worth $5,567,000 after acquiring an additional 340,472 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Corbus Pharmaceuticals by 2.1% during the third quarter. Vanguard Group Inc. now owns 612,030 shares of the biopharmaceutical company’s stock worth $7,742,000 after purchasing an additional 12,535 shares during the period. Finally, Armistice Capital LLC increased its stake in Corbus Pharmaceuticals by 179.2% in the 4th quarter. Armistice Capital LLC now owns 536,000 shares of the biopharmaceutical company’s stock worth $4,363,000 after purchasing an additional 344,000 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 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.