HighVista Strategies LLC Takes Position in Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP)

HighVista Strategies LLC purchased a new position in shares of Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 38,793 shares of the biopharmaceutical company’s stock, valued at approximately $1,755,000. HighVista Strategies LLC owned 0.36% of Corbus Pharmaceuticals as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Rhumbline Advisers purchased a new stake in Corbus Pharmaceuticals in the 2nd quarter valued at $638,000. Acadian Asset Management LLC purchased a new stake in shares of Corbus Pharmaceuticals in the second quarter valued at about $716,000. ClariVest Asset Management LLC acquired a new stake in shares of Corbus Pharmaceuticals during the second quarter worth about $725,000. Victory Capital Management Inc. purchased a new position in shares of Corbus Pharmaceuticals during the second quarter worth about $862,000. Finally, TD Asset Management Inc increased its position in Corbus Pharmaceuticals by 92.5% in the 2nd quarter. TD Asset Management Inc now owns 40,800 shares of the biopharmaceutical company’s stock valued at $1,846,000 after acquiring an additional 19,600 shares during the period. Hedge funds and other institutional investors own 64.64% of the company’s stock.

Corbus Pharmaceuticals Stock Down 62.3 %

Shares of NASDAQ CRBP opened at $19.51 on Monday. The stock has a market capitalization of $208.50 million, a price-to-earnings ratio of -2.80 and a beta of 2.56. Corbus Pharmaceuticals Holdings, Inc. has a 52 week low of $3.03 and a 52 week high of $61.90. The firm has a 50-day moving average price of $55.03 and a 200 day moving average price of $47.11.

Corbus Pharmaceuticals (NASDAQ:CRBP) last posted its quarterly earnings results on Tuesday, August 6th. The biopharmaceutical company reported ($0.90) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.19) by $0.29. Equities research analysts expect that Corbus Pharmaceuticals Holdings, Inc. will post -3.77 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on CRBP shares. StockNews.com downgraded Corbus Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, August 10th. Wedbush lowered their price objective on shares of Corbus Pharmaceuticals from $85.00 to $51.00 and set an “outperform” rating on the stock in a research report on Friday. Lifesci Capital upgraded shares of Corbus Pharmaceuticals to a “strong-buy” rating in a research note on Wednesday, August 21st. B. Riley dropped their price target on shares of Corbus Pharmaceuticals from $85.00 to $40.00 and set a “buy” rating on the stock in a research note on Friday. Finally, HC Wainwright restated a “buy” rating and issued a $80.00 price objective on shares of Corbus Pharmaceuticals in a research report on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $65.86.

About Corbus Pharmaceuticals

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.