Acadian Asset Management LLC Makes New Investment in Corbus Pharmaceuticals Holdings, Inc. $CRBP

Key Points

• Acadian Asset Management LLC has invested approximately $1.01 million in Corbus Pharmaceuticals by acquiring 190,093 shares, raising its ownership to 1.55% of the company.
• Corbus Pharmaceuticals' stock price remains stable at $11.62, with a market capitalization of $142.46 million, and the company reported an EPS loss of ($1.44) in its latest earnings results.
• Analysts have a generally positive outlook for Corbus Pharmaceuticals, with a consensus rating of "Buy" and a price target of $49.00, indicating strong market confidence in its future performance.

Acadian Asset Management LLC purchased a new position in Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 190,093 shares of the biopharmaceutical company's stock, valued at approximately $1,007,000. Acadian Asset Management LLC owned about 1.55% of Corbus Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Exome Asset Management LLC bought a new position in shares of Corbus Pharmaceuticals in the first quarter worth about $1,538,000. Millennium Management LLC lifted its position in shares of Corbus Pharmaceuticals by 215.0% during the fourth quarter. Millennium Management LLC now owns 386,653 shares of the biopharmaceutical company's stock valued at $4,563,000 after buying an additional 263,902 shares during the last quarter. Comerica Bank increased its holdings in shares of Corbus Pharmaceuticals by 20,000,000.0% during the first quarter. Comerica Bank now owns 200,001 shares of the biopharmaceutical company's stock valued at $1,062,000 after acquiring an additional 200,000 shares in the last quarter. AQR Capital Management LLC acquired a new stake in Corbus Pharmaceuticals during the 1st quarter valued at approximately $573,000. Finally, Two Sigma Investments LP boosted its holdings in shares of Corbus Pharmaceuticals by 212.3% in the 4th quarter. Two Sigma Investments LP now owns 134,175 shares of the biopharmaceutical company's stock valued at $1,583,000 after acquiring an additional 91,205 shares during the last quarter. Institutional investors own 64.64% of the company's stock.

Corbus Pharmaceuticals Stock Down 1.0%

CRBP traded down $0.12 on Friday, reaching $11.50. The company's stock had a trading volume of 283,518 shares, compared to its average volume of 133,408. Corbus Pharmaceuticals Holdings, Inc. has a fifty-two week low of $4.64 and a fifty-two week high of $23.33. The stock has a 50 day moving average of $9.44 and a two-hundred day moving average of $7.91. The company has a market capitalization of $140.93 million, a price-to-earnings ratio of -2.42 and a beta of 3.08.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. B. Riley raised shares of Corbus Pharmaceuticals to a "strong-buy" rating and set a $28.00 price target on the stock in a research note on Wednesday, July 30th. Oppenheimer reduced their price target on Corbus Pharmaceuticals from $56.00 to $53.00 and set an "outperform" rating on the stock in a report on Wednesday, August 6th. Lifesci Capital upgraded Corbus Pharmaceuticals to a "strong-buy" rating in a report on Saturday, July 12th. Finally, HC Wainwright reiterated a "buy" rating and set a $40.00 price target on shares of Corbus Pharmaceuticals in a report on Wednesday. One analyst has rated the stock with a Strong Buy rating and eight have assigned a Buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price 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.