Corbus Pharmaceuticals (NASDAQ:CRBP) Stock Crosses Above 50-Day Moving Average – Time to Sell?

Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) passed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $8.41 and traded as high as $8.50. Corbus Pharmaceuticals shares last traded at $8.18, with a volume of 120,634 shares changing hands.

Analyst Ratings Changes

Several research analysts have recently commented on CRBP shares. Oppenheimer raised their price target on Corbus Pharmaceuticals from $53.00 to $57.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 10th. Weiss Ratings reissued a “sell (d-)” rating on shares of Corbus Pharmaceuticals in a research note on Wednesday, January 21st. Finally, Jefferies Financial Group upgraded Corbus Pharmaceuticals to a “strong-buy” rating in a report on Wednesday, February 18th. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.71.

Corbus Pharmaceuticals Stock Performance

The company’s 50-day simple moving average is $8.41 and its 200 day simple moving average is $10.49. The company has a market cap of $145.11 million, a PE ratio of -1.37 and a beta of 2.84.

Corbus Pharmaceuticals (NASDAQ:CRBP) last posted its quarterly earnings data on Monday, March 9th. The biopharmaceutical company reported ($1.25) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.78) by $0.53. Analysts forecast that Corbus Pharmaceuticals Holdings, Inc. will post -4.23 EPS for the current year.

Insider Buying and Selling

In other Corbus Pharmaceuticals news, insider Dominic Smethurst sold 3,285 shares of the company’s stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $8.09, for a total transaction of $26,575.65. Following the sale, the insider owned 95,887 shares in the company, valued at $775,725.83. This represents a 3.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 4.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Corbus Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in CRBP. Seven Fleet Capital Management LP purchased a new stake in shares of Corbus Pharmaceuticals in the 4th quarter valued at approximately $462,000. Virtu Financial LLC purchased a new stake in shares of Corbus Pharmaceuticals during the 4th quarter worth $88,000. Quadrature Capital Ltd acquired a new position in shares of Corbus Pharmaceuticals during the fourth quarter worth $243,000. Orbimed Advisors LLC grew its stake in shares of Corbus Pharmaceuticals by 36.3% during the fourth quarter. Orbimed Advisors LLC now owns 1,597,287 shares of the biopharmaceutical company’s stock worth $13,002,000 after purchasing an additional 425,000 shares in the last quarter. Finally, Engineers Gate Manager LP purchased a new position in Corbus Pharmaceuticals in the fourth quarter valued at $140,000. Hedge funds and other institutional investors own 64.64% of the company’s stock.

About Corbus Pharmaceuticals

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.