Corbus Pharmaceuticals (NASDAQ:CRBP) Shares Gap Up to $55.65

Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $55.65, but opened at $58.01. Corbus Pharmaceuticals shares last traded at $59.70, with a volume of 44,055 shares traded.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. HC Wainwright reiterated a “buy” rating and set a $80.00 target price on shares of Corbus Pharmaceuticals in a research report on Monday, July 22nd. Royal Bank of Canada increased their target price on Corbus Pharmaceuticals from $77.00 to $82.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 11th. StockNews.com cut Corbus Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Wednesday, July 24th. Wedbush assumed coverage on Corbus Pharmaceuticals in a research report on Tuesday. They set an “outperform” rating and a $85.00 target price for the company. Finally, Oppenheimer reiterated an “outperform” rating and set a $80.00 target price on shares of Corbus Pharmaceuticals in a research report on Wednesday, July 10th. One analyst has rated the stock with a sell rating and six have issued a buy rating to the stock. According to MarketBeat.com, Corbus Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus target price of $76.33.

Corbus Pharmaceuticals Stock Up 5.0 %

The business has a 50 day moving average of $49.03 and a 200 day moving average of $38.04. The company has a market capitalization of $624.94 million, a P/E ratio of -8.40 and a beta of 2.59.

Corbus Pharmaceuticals (NASDAQ:CRBP) last announced its quarterly earnings results on Tuesday, May 7th. The biopharmaceutical company reported ($0.83) EPS for the quarter, beating analysts’ consensus estimates of ($1.09) by $0.26. On average, research analysts anticipate that Corbus Pharmaceuticals Holdings, Inc. will post -5.05 EPS for the current year.

Insider Activity at Corbus Pharmaceuticals

In other news, CFO Sean F. Moran sold 9,355 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $49.87, for a total value of $466,533.85. Following the completion of the sale, the chief financial officer now directly owns 48,605 shares of the company’s stock, valued at approximately $2,423,931.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Yuval Cohen sold 29,317 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $50.17, for a total value of $1,470,833.89. Following the completion of the sale, the chief executive officer now directly owns 84,400 shares of the company’s stock, valued at approximately $4,234,348. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Sean F. Moran sold 9,355 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $49.87, for a total value of $466,533.85. Following the completion of the sale, the chief financial officer now directly owns 48,605 shares of the company’s stock, valued at $2,423,931.35. The disclosure for this sale can be found here. Over the last three months, insiders sold 51,733 shares of company stock valued at $2,530,799. Insiders own 4.00% of the company’s stock.

Institutional Investors Weigh In On Corbus Pharmaceuticals

Institutional investors have recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Corbus Pharmaceuticals during the 1st quarter worth approximately $976,000. Bank of New York Mellon Corp purchased a new position in Corbus Pharmaceuticals during the 2nd quarter valued at $1,368,000. Altitude Crest Partners Inc. purchased a new position in Corbus Pharmaceuticals during the 1st quarter valued at $4,069,000. Price T Rowe Associates Inc. MD purchased a new position in Corbus Pharmaceuticals during the 1st quarter valued at $7,554,000. Finally, Assenagon Asset Management S.A. purchased a new position in Corbus Pharmaceuticals during the 1st quarter valued at $10,181,000. 64.64% of the stock is owned by institutional investors.

Corbus Pharmaceuticals Company Profile

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.