Rhumbline Advisers Makes New Investment in Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP)

Rhumbline Advisers purchased a new stake in shares of Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor purchased 14,103 shares of the biopharmaceutical company’s stock, valued at approximately $638,000. Rhumbline Advisers owned about 0.13% of Corbus Pharmaceuticals at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of CRBP. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Corbus Pharmaceuticals in the first quarter worth about $976,000. Bank of New York Mellon Corp acquired a new position in shares of Corbus Pharmaceuticals during the second quarter valued at about $1,368,000. Altitude Crest Partners Inc. acquired a new position in shares of Corbus Pharmaceuticals during the first quarter valued at about $4,069,000. Price T Rowe Associates Inc. MD acquired a new position in shares of Corbus Pharmaceuticals during the first quarter valued at about $7,554,000. Finally, Janus Henderson Group PLC acquired a new position in Corbus Pharmaceuticals in the 1st quarter worth approximately $13,363,000. 64.64% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on CRBP. Mizuho reaffirmed an “outperform” rating and set a $74.00 target price on shares of Corbus Pharmaceuticals in a report on Friday, September 20th. StockNews.com cut shares of Corbus Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, August 10th. B. Riley decreased their target price on shares of Corbus Pharmaceuticals from $85.00 to $40.00 and set a “buy” rating for the company in a research note on Friday, September 20th. HC Wainwright restated a “buy” rating and set a $80.00 price target on shares of Corbus Pharmaceuticals in a research report on Monday. Finally, Wedbush cut their price objective on shares of Corbus Pharmaceuticals from $85.00 to $51.00 and set an “outperform” rating for the company in a report on Friday, September 20th. One research analyst has rated the stock with a sell rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Corbus Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus price target of $65.86.

Insider Buying and Selling at Corbus Pharmaceuticals

In other Corbus Pharmaceuticals news, major shareholder Cormorant Asset Management, Lp purchased 350,000 shares of Corbus Pharmaceuticals stock in a transaction dated Friday, September 20th. The shares were acquired at an average price of $20.01 per share, with a total value of $7,003,500.00. Following the completion of the transaction, the insider now owns 2,375,000 shares of the company’s stock, valued at $47,523,750. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 4.00% of the stock is owned by corporate insiders.

Corbus Pharmaceuticals Trading Down 3.4 %

NASDAQ:CRBP opened at $18.34 on Wednesday. Corbus Pharmaceuticals Holdings, Inc. has a twelve month low of $3.03 and a twelve month high of $61.90. The company has a market cap of $196.00 million, a P/E ratio of -2.64 and a beta of 2.56. The company’s 50-day moving average price is $53.39 and its 200-day moving average price is $46.77.

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

Corbus Pharmaceuticals Company Profile

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.