Corbus Pharmaceuticals (NASDAQ:CRBP) Share Price Crosses Below 200 Day Moving Average – What’s Next?

Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $8.99 and traded as low as $8.02. Corbus Pharmaceuticals shares last traded at $8.26, with a volume of 297,769 shares changing hands.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on CRBP shares. Mizuho raised their price objective on shares of Corbus Pharmaceuticals from $40.00 to $44.00 and gave the company an “outperform” rating in a research report on Friday, May 22nd. Guggenheim reissued a “buy” rating on shares of Corbus Pharmaceuticals in a research report on Tuesday, May 26th. Oppenheimer dropped their price target on shares of Corbus Pharmaceuticals from $54.00 to $52.00 and set an “outperform” rating on the stock in a research note on Wednesday. HC Wainwright reaffirmed a “buy” rating and issued a $40.00 price objective on shares of Corbus Pharmaceuticals in a research note on Tuesday, May 26th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Corbus Pharmaceuticals in a report on Monday, April 20th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have assigned a Sell rating to the stock. According to MarketBeat, Corbus Pharmaceuticals currently has an average rating of “Moderate Buy” and an average target price of $41.78.

Corbus Pharmaceuticals Stock Performance

The stock has a 50 day moving average of $9.55 and a two-hundred day moving average of $8.99. The firm has a market capitalization of $153.06 million, a P/E ratio of -1.42 and a beta of 2.57.

Corbus Pharmaceuticals (NASDAQ:CRBP) last announced its earnings results on Tuesday, May 12th. The biopharmaceutical company reported ($1.23) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.26) by $0.03. Sell-side analysts predict that Corbus Pharmaceuticals Holdings, Inc. will post -4.87 EPS for the current year.

Insiders Place Their Bets

In related news, Director John Kenneth Jenkins sold 4,800 shares of the firm’s stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $7.91, for a total value of $37,968.00. Following the transaction, the director directly owned 3,833 shares in the company, valued at approximately $30,319.03. This trade represents a 55.60% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Nishant C. Saxena bought 9,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was purchased at an average price of $7.58 per share, for a total transaction of $68,220.00. Following the acquisition, the insider directly owned 75,300 shares in the company, valued at approximately $570,774. This trade represents a 13.57% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold 9,238 shares of company stock valued at $73,073 over the last 90 days. 3.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Corbus Pharmaceuticals

A number of institutional investors have recently made changes to their positions in CRBP. Aberdeen Group plc lifted its position 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 purchasing an additional 1,133,519 shares during the last quarter. Orbimed Advisors LLC grew its holdings in Corbus Pharmaceuticals by 36.3% in the 4th quarter. Orbimed Advisors LLC now owns 1,597,287 shares of the biopharmaceutical company’s stock valued at $13,002,000 after buying an additional 425,000 shares during the last quarter. Armistice Capital LLC grew its holdings in Corbus Pharmaceuticals by 179.2% in the 4th quarter. Armistice Capital LLC now owns 536,000 shares of the biopharmaceutical company’s stock valued at $4,363,000 after buying an additional 344,000 shares during the last quarter. Prosight Management LP increased its position in 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 buying an additional 340,472 shares during the period. Finally, ADAR1 Capital Management LLC lifted its holdings in shares of Corbus Pharmaceuticals by 2,711.6% during the fourth quarter. ADAR1 Capital Management LLC now owns 286,781 shares of the biopharmaceutical company’s stock worth $2,334,000 after buying an additional 276,581 shares during the last quarter. 64.64% of the stock is currently owned by institutional investors.

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.