Figma Shares Indicated To Open $105/$110
Yuval Cohen, Chief Executive Officer of Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP), recently sold 7,134 shares of the company’s common stock. The shares were sold at a weighted average price of $8.7559 per share, bringing the total transaction value to approximately $62,464. The transaction occurred as the stock trades near its 52-week low of $8.01, with shares down about 28% year-to-date. This sale was conducted under a pre-established Rule 10b5-1 trading plan, which Cohen adopted on March 15, 2024. The transaction was executed to cover tax withholding obligations related to the vesting and settlement of Restricted Stock Units (RSUs). After the sale, Cohen holds 138,187 shares, including 123,561 unvested RSUs subject to vesting schedules. According to InvestingPro analysis, Corbus Pharmaceuticals, with a market cap of $99.32 million, currently appears undervalued based on its Fair Value assessment, while maintaining a "Fair" overall financial health rating.
In other recent news, Corbus Pharmaceuticals has been the focus of several analyst firms. H.C. Wainwright reiterated its Buy rating and $75.00 price target for the company, citing confidence in its ongoing research and development efforts. This follows the presentation of updated data from Corbus’ Western study of CRB-701 at the American Society of Clinical Oncology Genitourinary symposium, which showcased a favorable risk-benefit profile and strong responses in head and neck squamous cell carcinoma.
Meanwhile, Mizuho (NYSE:MFG) Securities maintained its Outperform rating and $42.00 price target for Corbus, following the analysis of recent clinical data from a competing company. The firm anticipates positive results from the U.S. phase 1/2 data for CRB-701, which could indicate a more favorable profile than Pfizer (NYSE:PFE)’s Padcev.
In other developments, Corbus has initiated a Phase 1 clinical trial of its drug candidate CRB-601 for patients with advanced solid tumors. The trial will evaluate the safety and preliminary efficacy of the monoclonal antibody, which targets the activation of latent TGFβ by blocking integrin αVβ8, a mechanism believed to play a role in tumor immune evasion.
These recent developments highlight Corbus’ ongoing efforts in research and development, as well as the positive outlook from analyst firms.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.