Corbus Pharmaceuticals (NASDAQ:CRBP) Now Covered by Analysts at Piper Sandler

Piper Sandler began coverage on shares of Corbus Pharmaceuticals (NASDAQ:CRBP) in a research report report published on Monday, MarketBeat reports. The firm issued an overweight rating and a $35.00 price target on the biopharmaceutical company’s stock.

A number of other brokerages have also recently commented on CRBP. Mizuho reiterated an “outperform” rating and issued a $74.00 target price on shares of Corbus Pharmaceuticals in a research report on Friday, September 20th. StockNews.com lowered Corbus Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, August 10th. HC Wainwright restated a “buy” rating and set a $80.00 price target on shares of Corbus Pharmaceuticals in a research report on Monday, September 23rd. Lifesci Capital raised Corbus Pharmaceuticals to a “strong-buy” rating in a research note on Wednesday, August 21st. Finally, Wedbush restated an “outperform” rating and issued a $51.00 target price on shares of Corbus Pharmaceuticals in a report on Monday, November 4th. One analyst has rated the stock with a sell rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $62.00.

Corbus Pharmaceuticals Stock Performance

CRBP stock opened at $17.84 on Monday. The company has a market capitalization of $217.29 million, a PE ratio of -3.80 and a beta of 2.56. Corbus Pharmaceuticals has a one year low of $4.94 and a one year high of $61.90. The company’s 50 day moving average price is $18.18 and its two-hundred day moving average price is $39.40.

Insider Activity at Corbus Pharmaceuticals

In other news, major shareholder Cormorant Asset Management, Lp acquired 350,000 shares of the firm’s stock in a transaction on Friday, September 20th. The stock was acquired at an average price of $20.01 per share, for a total transaction of $7,003,500.00. Following the completion of the acquisition, the insider now owns 2,375,000 shares in the company, valued at $47,523,750. This trade represents a 17.28 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.00% of the stock is owned by corporate insiders.

Institutional Trading of Corbus Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Darwin Global Management Ltd. purchased a new position in Corbus Pharmaceuticals during the 2nd quarter valued at about $14,267,000. Vanguard Group Inc. lifted its holdings in shares of Corbus Pharmaceuticals by 143.7% during the first quarter. Vanguard Group Inc. now owns 437,264 shares of the biopharmaceutical company’s stock valued at $17,158,000 after purchasing an additional 257,808 shares during the last quarter. Price T Rowe Associates Inc. MD bought a new stake in shares of Corbus Pharmaceuticals in the 1st quarter worth approximately $7,554,000. State Street Corp grew its stake in shares of Corbus Pharmaceuticals by 34.6% in the 3rd quarter. State Street Corp now owns 595,576 shares of the biopharmaceutical company’s stock worth $12,287,000 after buying an additional 153,243 shares during the last quarter. Finally, Integral Health Asset Management LLC bought a new position in Corbus Pharmaceuticals during the 2nd quarter valued at approximately $4,525,000. 64.64% of the stock is owned by hedge funds and other institutional investors.

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.