Aberdeen Group plc Buys 45,332 Shares of Corbus Pharmaceuticals Holdings, Inc. $CRBP

Key Points

• Aberdeen Group plc increased its stake in Corbus Pharmaceuticals by 168.6%, now owning 72,226 shares valued at approximately $498,000.
• Corbus Pharmaceuticals has seen a significant stock price rise, with a 342% year-to-date gain, and currently trades at $19.32 per share.
• Analysts have a Moderate Buy consensus rating on Corbus Pharmaceuticals, with a price target averaging $45.43, despite some ratings indicating a sell position.

Aberdeen Group plc lifted its holdings in Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP - Free Report) by 168.6% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 72,226 shares of the biopharmaceutical company's stock after purchasing an additional 45,332 shares during the quarter. Aberdeen Group plc owned about 0.59% of Corbus Pharmaceuticals worth $498,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of CRBP. Comerica Bank boosted its position in Corbus Pharmaceuticals by 20,000,000.0% during the 1st quarter. Comerica Bank now owns 200,001 shares of the biopharmaceutical company's stock worth $1,062,000 after acquiring an additional 200,000 shares during the last quarter. Exome Asset Management LLC acquired a new position in Corbus Pharmaceuticals in the first quarter valued at about $1,538,000. Acadian Asset Management LLC acquired a new position in Corbus Pharmaceuticals in the first quarter valued at about $1,007,000. Atle Fund Management AB grew its position in Corbus Pharmaceuticals by 78.6% in the second quarter. Atle Fund Management AB now owns 175,582 shares of the biopharmaceutical company's stock valued at $1,212,000 after acquiring an additional 77,278 shares during the last quarter. Finally, Nuveen LLC bought a new position in Corbus Pharmaceuticals in the first quarter valued at about $243,000. 64.64% of the stock is currently owned by institutional investors and hedge funds.

Corbus Pharmaceuticals Trading Up 1.4%

Shares of Corbus Pharmaceuticals stock opened at $19.32 on Friday. The firm has a market capitalization of $236.77 million, a PE ratio of -4.06 and a beta of 2.84. The business's 50-day moving average price is $11.62 and its 200-day moving average price is $9.04. Corbus Pharmaceuticals Holdings, Inc. has a 12 month low of $4.64 and a 12 month high of $20.77.

Corbus Pharmaceuticals (NASDAQ:CRBP - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The biopharmaceutical company reported ($1.44) EPS for the quarter, beating the consensus estimate of ($1.55) by $0.11. As a group, analysts predict that Corbus Pharmaceuticals Holdings, Inc. will post -4.23 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CRBP. Lifesci Capital upgraded Corbus Pharmaceuticals to a "strong-buy" rating in a report on Saturday, July 12th. HC Wainwright reaffirmed a "buy" rating and set a $40.00 target price on shares of Corbus Pharmaceuticals in a research report on Wednesday, September 17th. B. Riley upgraded Corbus Pharmaceuticals to a "strong-buy" rating and set a $28.00 price target for the company in a report on Wednesday, July 30th. Weiss Ratings restated a "sell (d-)" rating on shares of Corbus Pharmaceuticals in a research note on Wednesday, October 8th. Finally, Oppenheimer cut their price target on Corbus Pharmaceuticals from $56.00 to $53.00 and set an "outperform" rating for the company in a research note on Wednesday, August 6th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $45.43.

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.

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