Atle Fund Management AB Purchases 77,278 Shares of Corbus Pharmaceuticals Holdings, Inc. $CRBP

Key Points

• Atle Fund Management AB increased its stake in Corbus Pharmaceuticals by 78.6%, owning approximately 1.43% of the company valued at $1.21 million after acquiring 77,278 shares.
• Corbus Pharmaceuticals has recently experienced a share price surge of 342% year-to-date and has a current market capitalization of $140.99 million.
• Analysts are optimistic about Corbus, with several firms issuing "buy" ratings and target prices ranging up to $56.00, indicating strong potential growth.

Atle Fund Management AB lifted its position in Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP - Free Report) by 78.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 175,582 shares of the biopharmaceutical company's stock after purchasing an additional 77,278 shares during the period. Atle Fund Management AB owned about 1.43% of Corbus Pharmaceuticals worth $1,212,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Two Sigma Investments LP boosted its holdings in Corbus Pharmaceuticals by 212.3% in the 4th quarter. Two Sigma Investments LP now owns 134,175 shares of the biopharmaceutical company's stock worth $1,583,000 after buying an additional 91,205 shares during the period. Millennium Management LLC lifted its position in shares of Corbus Pharmaceuticals by 215.0% in the fourth quarter. Millennium Management LLC now owns 386,653 shares of the biopharmaceutical company's stock valued at $4,563,000 after acquiring an additional 263,902 shares in the last quarter. Comerica Bank boosted its stake in shares of Corbus Pharmaceuticals by 20,000,000.0% in the first 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 period. Exome Asset Management LLC bought a new position in shares of Corbus Pharmaceuticals in the first quarter worth about $1,538,000. Finally, Deutsche Bank AG grew its position in shares of Corbus Pharmaceuticals by 46.8% during the fourth quarter. Deutsche Bank AG now owns 8,206 shares of the biopharmaceutical company's stock worth $97,000 after purchasing an additional 2,616 shares in the last quarter. 64.64% of the stock is currently owned by institutional investors.

Corbus Pharmaceuticals Stock Performance

CRBP stock traded down $0.05 during midday trading on Tuesday, reaching $11.51. The company's stock had a trading volume of 69,131 shares, compared to its average volume of 179,492. Corbus Pharmaceuticals Holdings, Inc. has a 1 year low of $4.64 and a 1 year high of $23.33. The firm has a market capitalization of $141.11 million, a price-to-earnings ratio of -2.43 and a beta of 3.08. The stock has a fifty day simple moving average of $9.50 and a two-hundred day simple moving average of $7.94.

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

Analyst Upgrades and Downgrades

Several research analysts have weighed in on CRBP shares. B. Riley upgraded Corbus Pharmaceuticals to a "strong-buy" rating and set a $28.00 price target for the company in a research note on Wednesday, July 30th. Oppenheimer cut their target price on shares of Corbus Pharmaceuticals from $56.00 to $53.00 and set an "outperform" rating for the company in a research note on Wednesday, August 6th. Lifesci Capital upgraded shares of Corbus Pharmaceuticals to a "strong-buy" rating in a report on Saturday, July 12th. Finally, HC Wainwright reissued a "buy" rating and set a $40.00 price objective on shares of Corbus Pharmaceuticals in a report on Wednesday, September 17th. One equities research analyst has rated the stock with a Strong Buy rating and eight have given a Buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $45.43.

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.