Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) Shares Acquired by Geode Capital Management LLC

Geode Capital Management LLC increased its position in shares of Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) by 8.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 249,759 shares of the biopharmaceutical company’s stock after acquiring an additional 18,702 shares during the quarter. Geode Capital Management LLC owned 2.05% of Corbus Pharmaceuticals worth $5,154,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp acquired a new position in shares of Corbus Pharmaceuticals in the 2nd quarter valued at about $1,368,000. Charles Schwab Investment Management Inc. lifted 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 valued at $1,932,000 after purchasing an additional 64,800 shares during the last quarter. Darwin Global Management Ltd. acquired a new stake in shares of Corbus Pharmaceuticals in the second quarter worth about $14,267,000. State Street Corp boosted its position in Corbus Pharmaceuticals by 34.6% during the third quarter. State Street Corp now owns 595,576 shares of the biopharmaceutical company’s stock worth $12,287,000 after purchasing an additional 153,243 shares during the period. Finally, Acadian Asset Management LLC acquired a new position in Corbus Pharmaceuticals in the 2nd quarter valued at $716,000. 64.64% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have commented on CRBP shares. Piper Sandler initiated coverage on Corbus Pharmaceuticals in a research report on Monday, December 2nd. They issued an “overweight” rating and a $35.00 price target on the stock. Wedbush reissued an “outperform” rating and issued a $51.00 price target on shares of Corbus Pharmaceuticals in a research report on Monday, November 4th. HC Wainwright reiterated a “buy” rating and set a $80.00 price objective on shares of Corbus Pharmaceuticals in a research note on Monday, September 23rd. B. Riley cut 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. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $82.00 price target on shares of Corbus Pharmaceuticals in a report 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 company’s stock. Based on data from MarketBeat, Corbus Pharmaceuticals currently has an average rating of “Moderate Buy” and an average price target of $62.00.

Corbus Pharmaceuticals Trading Up 8.3 %

Shares of CRBP opened at $13.04 on Friday. The stock has a market cap of $158.81 million, a P/E ratio of -2.78 and a beta of 2.63. The stock’s 50-day moving average price is $15.80 and its two-hundred day moving average price is $34.17. Corbus Pharmaceuticals Holdings, Inc. has a 1 year low of $5.67 and a 1 year high of $61.90.

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.