Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) Given Average Rating of “Buy” by Brokerages

Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) has received a consensus recommendation of “Buy” from the nine brokerages that are presently covering the firm, MarketBeat Ratings reports. Eight investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $62.00.

A number of brokerages have recently commented on CRBP. Piper Sandler started coverage on shares of Corbus Pharmaceuticals in a research note on Monday, December 2nd. They issued an “overweight” rating and a $35.00 target price on the stock. HC Wainwright restated a “buy” rating and set a $80.00 price objective on shares of Corbus Pharmaceuticals in a research note on Monday, September 23rd. Wedbush reiterated an “outperform” rating and issued a $51.00 target price on shares of Corbus Pharmaceuticals in a research note on Monday, November 4th. Royal Bank of Canada reissued an “outperform” rating and set a $82.00 price target on shares of Corbus Pharmaceuticals in a research report on Friday, September 20th. Finally, Lifesci Capital raised shares of Corbus Pharmaceuticals to a “strong-buy” rating in a research report on Wednesday, August 21st.

Insider Transactions at Corbus Pharmaceuticals

In related news, major shareholder Cormorant Asset Management, Lp bought 350,000 shares of the business’s stock in a transaction dated Friday, September 20th. The shares were acquired at an average price of $20.01 per share, for a total transaction of $7,003,500.00. Following the purchase, the insider now owns 2,375,000 shares in the company, valued at $47,523,750. This trade represents a 17.28 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 4.00% of the company’s stock.

Institutional Trading of Corbus Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the company. Vestcor Inc bought a new stake in shares of Corbus Pharmaceuticals in the 3rd quarter valued at approximately $64,000. MetLife Investment Management LLC bought a new stake in Corbus Pharmaceuticals during the third quarter valued at $123,000. SG Americas Securities LLC acquired a new stake in shares of Corbus Pharmaceuticals during the third quarter worth $151,000. FMR LLC lifted its position in shares of Corbus Pharmaceuticals by 33.0% in the 3rd quarter. FMR LLC now owns 10,028 shares of the biopharmaceutical company’s stock worth $207,000 after buying an additional 2,486 shares during the last quarter. Finally, Rhumbline Advisers bought a new stake in shares of Corbus Pharmaceuticals during the 2nd quarter valued at about $638,000. Institutional investors and hedge funds own 64.64% of the company’s stock.

Corbus Pharmaceuticals Stock Performance

NASDAQ CRBP opened at $13.30 on Thursday. The firm has a market capitalization of $161.98 million, a price-to-earnings ratio of -2.84 and a beta of 2.57. Corbus Pharmaceuticals has a one year low of $5.09 and a one year high of $61.90. The company’s 50 day moving average price is $17.06 and its 200 day moving average price is $37.01.

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.