State Street Corp Buys 153,243 Shares of Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP)

State Street Corp raised its stake in shares of Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) by 34.6% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 595,576 shares of the biopharmaceutical company’s stock after purchasing an additional 153,243 shares during the period. State Street Corp owned 4.89% of Corbus Pharmaceuticals worth $12,287,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in CRBP. Darwin Global Management Ltd. bought a new position in shares of Corbus Pharmaceuticals during the 2nd quarter valued at approximately $14,267,000. Integral Health Asset Management LLC bought a new position in Corbus Pharmaceuticals during the second quarter valued at $4,525,000. Charles Schwab Investment Management Inc. grew its stake in shares of Corbus Pharmaceuticals by 224.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 93,643 shares of the biopharmaceutical company’s stock worth $1,932,000 after buying an additional 64,800 shares in the last quarter. HighVista Strategies LLC increased its holdings in shares of Corbus Pharmaceuticals by 94.1% in the 3rd quarter. HighVista Strategies LLC now owns 75,292 shares of the biopharmaceutical company’s stock worth $1,553,000 after buying an additional 36,499 shares during the last quarter. Finally, HealthInvest Partners AB raised its position in shares of Corbus Pharmaceuticals by 77.9% during the 3rd quarter. HealthInvest Partners AB now owns 69,573 shares of the biopharmaceutical company’s stock valued at $1,435,000 after buying an additional 30,473 shares in the last quarter. Hedge funds and other institutional investors own 64.64% of the company’s stock.

Corbus Pharmaceuticals Trading Up 0.1 %

Shares of NASDAQ CRBP opened at $13.17 on Thursday. Corbus Pharmaceuticals Holdings, Inc. has a 12-month low of $5.30 and a 12-month high of $61.90. The stock’s fifty day simple moving average is $16.62 and its two-hundred day simple moving average is $36.01. The stock has a market capitalization of $160.40 million, a PE ratio of -2.81 and a beta of 2.58.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on CRBP. Mizuho reaffirmed an “outperform” rating and issued a $74.00 price objective on shares of Corbus Pharmaceuticals in a research note on Friday, September 20th. HC Wainwright reaffirmed a “buy” rating and set a $80.00 price target on shares of Corbus Pharmaceuticals in a research note on Monday, September 23rd. Piper Sandler started coverage on shares of Corbus Pharmaceuticals in a research report on Monday, December 2nd. They issued an “overweight” rating and a $35.00 price objective on the stock. B. Riley dropped their target price on Corbus Pharmaceuticals from $85.00 to $40.00 and set a “buy” rating for the company in a research report on Friday, September 20th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $82.00 price target on shares of Corbus Pharmaceuticals in a research note on Friday, September 20th. One analyst has rated the stock with a sell rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $62.00.

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.