The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Corbus Pharmaceuticals Holdings Inc shares valued at $7,003,761 were purchased by Cormorant Asset Management, LP on Sep 20 ’24. At $20.01 per share, Cormorant Asset Management, LP acquired 350,000 shares. The insider’s holdings grew to 2,375,000 shares worth approximately $47.76 million following the completion of this transaction.
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Also, CATLIN AVERY W purchased 888 shares, netting a total of over 50,109 in proceeds.
Before that, Moran Sean F. had sold 9,355 shares from its account. In a trade valued at $466,569, the Chief Financial Officer traded Corbus Pharmaceuticals Holdings Inc shares for $49.87 each. Upon closing the transaction, the insider’s holdings decreased to 9,355 shares, worth approximately $0.98 million.
As published in their initiating research note from Wedbush on July 30, 2024, Corbus Pharmaceuticals Holdings Inc [CRBP] has been an Outperform and the price target has been revised to $85. As of June 26, 2024, B. Riley Securities has initiated its “Buy” rating for CRBP. Earlier on June 03, 2024, Oppenheimer resumed its rating. Their recommendation was “an Outperform” for CRBP stock.
Analyzing CRBP Stock Performance
During the last five days, there has been a drop of approximately -5.81%. Over the course of the year, Corbus Pharmaceuticals Holdings Inc shares have jumped approximately 232.95%. Shares of the company reached a 52-week high of $61.90 on 07/31/24 and a 52-week low of $5.67 on 01/16/24. A 50-day SMA is recorded $48.92, while a 200-day SMA reached $37.62. Nevertheless, trading volume fell to 0.52 million shares from 1.25 million shares the previous day.
Support And Resistance Levels for Corbus Pharmaceuticals Holdings Inc (CRBP)
According to the 24-hour chart, there is a support level at 19.42, which, if violated, would cause prices to drop to 18.74. In the upper region, resistance lies at 20.60. The next price resistance is at 21.10. RSI (Relative Strength Index) is 27.19 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -11.60, which suggests the price will decrease in the coming days. Percent R is at 92.21%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
