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In a recent transaction, Sean Moran, Chief Financial Officer of Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP), sold 2,792 shares of the company’s common stock. The sale, which took place on February 14, 2025, was executed at a weighted average price of $8.76 per share, resulting in a total transaction value of approximately $24,446.
The transaction was carried out under a Rule 10b5-1 trading plan, which was adopted by Moran on March 15, 2024. The shares were sold to cover tax withholding obligations associated with the vesting and settlement of Restricted Stock Units (RSUs). This type of transaction was mandated by the company’s policy to satisfy tax obligations through a "sell to cover" arrangement, and it was not a discretionary sale by Moran. InvestingPro data reveals that while the company maintains strong liquidity with a current ratio of 13.84, it faces profitability challenges, with analysts not expecting positive earnings this year.
Following the transaction, Moran retains direct ownership of 73,313 shares of Corbus Pharmaceuticals, which includes 57,632 unvested RSUs subject to the company’s vesting schedule. With a market capitalization of approximately $99 million and its next earnings report due on March 11, investors seeking deeper insights can access comprehensive analysis and additional ProTips through InvestingPro’s detailed research reports.
In other recent news, Corbus Pharmaceuticals has been the subject of considerable attention from analysts. H.C. Wainwright reiterated its Buy rating and $75.00 price target for the company, citing promising data from the Western study of CRB-701, a nectin-4 antibody-drug conjugate. The study showed no dose-limiting toxicities and reported lower rates of neuropathy, suggesting a competitive advantage over other treatments.
Mizuho (NYSE:MFG) Securities also maintained its Outperform rating for Corbus, based on the potential for CRB-701 to outperform the existing market leader in this space. These developments follow Corbus’ presentation at the American Society of Clinical Oncology Genitourinary (ASCO GU) symposium, where it unveiled updated data from its Phase 1 clinical study of CRB-701.
In addition to this, Corbus has initiated a Phase 1 clinical trial of its drug candidate CRB-601 for patients with advanced solid tumors. This broad range of activities underscores Corbus’ commitment to advancing treatments in oncology. These are recent developments and investors should look forward to additional data expected to be released later in the year.
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