Corbus Pharmaceuticals (NASDAQ:CRBP) Upgraded by Jefferies Financial Group to Strong-Buy Rating

Corbus Pharmaceuticals (NASDAQ:CRBP) was upgraded by equities research analysts at Jefferies Financial Group to a “strong-buy” rating in a research report issued on Wednesday,Zacks.com reports.

CRBP has been the topic of several other reports. Mizuho set a $39.00 price target on Corbus Pharmaceuticals in a research report on Wednesday, October 29th. Royal Bank Of Canada lowered their target price on shares of Corbus Pharmaceuticals from $55.00 to $53.00 and set an “outperform” rating on the stock in a research note on Thursday, November 13th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Corbus Pharmaceuticals in a report on Wednesday, January 21st. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $44.38.

Corbus Pharmaceuticals Price Performance

Corbus Pharmaceuticals stock opened at $7.41 on Wednesday. The firm has a market capitalization of $130.05 million, a P/E ratio of -1.34 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 business has a fifty day moving average price of $8.28 and a 200-day moving average price of $10.62.

Insider Buying and Selling

In other news, insider Dominic Smethurst sold 3,285 shares of the firm’s stock in a transaction on Tuesday, February 3rd. The shares were 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 approximately $775,725.83. This trade represents a 3.31% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Cormorant Asset Management, Lp sold 30,029 shares of the company’s 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 owned 2,344,971 shares of the company’s stock, valued at $26,873,367.66. This trade represents a 1.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 35,729 shares of company stock valued at $390,245. Corporate insiders own 3.60% of the company’s stock.

Institutional Trading of Corbus Pharmaceuticals

A number of hedge funds have recently bought and sold shares of the company. Quadrature Capital Ltd purchased a new position in shares of Corbus Pharmaceuticals during the fourth quarter worth approximately $243,000. Orbimed Advisors LLC raised its position 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 worth $13,002,000 after purchasing an additional 425,000 shares during the period. Engineers Gate Manager LP bought a new stake in Corbus Pharmaceuticals in the fourth quarter worth $140,000. Caption Management LLC boosted its position in Corbus Pharmaceuticals by 170.1% during the fourth quarter. Caption Management LLC now owns 56,066 shares of the biopharmaceutical company’s stock valued at $456,000 after buying an additional 136,066 shares during the period. Finally, Balyasny Asset Management L.P. boosted its position in Corbus Pharmaceuticals by 469.3% during the fourth quarter. Balyasny Asset Management L.P. now owns 133,311 shares of the biopharmaceutical company’s stock valued at $1,085,000 after buying an additional 109,893 shares during the period. 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.