AlphaQuest LLC Invests $299,000 in Corbus Pharmaceuticals Holdings, Inc. $CRBP

Key Points

• AlphaQuest LLC has made a new investment in Corbus Pharmaceuticals Holdings, purchasing 56,390 shares for approximately $299,000, representing 0.46% of the company.
• Corbus Pharmaceuticals' stock has seen a significant 342% year-to-date surge, making it an attractive option for various institutional investors.
• The company reported an earnings per share of (-$1.44), which beat the consensus estimate by $0.11, and analysts have varying recommendations with an average rating of "Buy."

AlphaQuest LLC bought a new position in Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 56,390 shares of the biopharmaceutical company's stock, valued at approximately $299,000. AlphaQuest LLC owned about 0.46% of Corbus Pharmaceuticals at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wells Fargo & Company MN increased its stake in shares of Corbus Pharmaceuticals by 51.7% during the fourth quarter. Wells Fargo & Company MN now owns 6,444 shares of the biopharmaceutical company's stock valued at $76,000 after buying an additional 2,195 shares during the period. Deutsche Bank AG lifted its stake in Corbus Pharmaceuticals by 46.8% during the 4th quarter. Deutsche Bank AG now owns 8,206 shares of the biopharmaceutical company's stock valued at $97,000 after acquiring an additional 2,616 shares during the period. Aquatic Capital Management LLC acquired a new stake in Corbus Pharmaceuticals during the 4th quarter worth about $101,000. Two Sigma Advisers LP acquired a new stake in shares of Corbus Pharmaceuticals during the 4th quarter worth approximately $130,000. Finally, Nuveen LLC purchased a new stake in shares of Corbus Pharmaceuticals during the 1st quarter worth about $243,000. 64.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on CRBP shares. HC Wainwright reduced their price objective on Corbus Pharmaceuticals from $50.00 to $40.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. B. Riley raised Corbus Pharmaceuticals to a "strong-buy" rating and set a $28.00 price objective for the company in a research report on Wednesday, July 30th. Oppenheimer dropped their target price on Corbus Pharmaceuticals from $56.00 to $53.00 and set an "outperform" rating on the stock in a report on Wednesday, August 6th. Royal Bank Of Canada lowered their target price on shares of Corbus Pharmaceuticals from $65.00 to $58.00 and set an "outperform" rating for the company in a report on Wednesday, May 7th. Finally, Lifesci Capital upgraded Corbus Pharmaceuticals to a "strong-buy" rating in a research note on Saturday, July 12th. One research analyst has rated the stock with a Strong Buy rating and nine have issued a Buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $49.00.

Corbus Pharmaceuticals Stock Up 1.4%

Shares of Corbus Pharmaceuticals stock traded up $0.14 on Wednesday, reaching $9.88. The company's stock had a trading volume of 9,617 shares, compared to its average volume of 181,189. The firm's fifty day simple moving average is $8.81 and its two-hundred day simple moving average is $7.67. The company has a market capitalization of $121.07 million, a price-to-earnings ratio of -2.07 and a beta of 3.08. Corbus Pharmaceuticals Holdings, Inc. has a 52 week low of $4.64 and a 52 week high of $58.90.

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

Corbus Pharmaceuticals Profile

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.