Corbus Pharmaceuticals Holdings, Inc. $CRBP Stock Holdings Lifted by Aberdeen Group plc

Key Points

• Aberdeen Group plc boosted its stake in Corbus by 602.2% in Q4 to 1,321,750 shares, now owning about 7.53% of the company (approximately $10.76M).
• Multiple other institutions (Vanguard, Assenagon, HighVista, Bank of America) increased positions and AQR opened a new stake, leaving hedge funds and institutions owning 64.64% of the stock.
• Analysts are broadly positive—Oppenheimer raised its target to $57 and Jefferies rates the stock a "strong-buy"—with a MarketBeat consensus of a "Moderate Buy" and a $43.71 target price.

Aberdeen Group plc lifted its position in Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP - Free Report) by 602.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,321,750 shares of the biopharmaceutical company's stock after acquiring an additional 1,133,519 shares during the period. Aberdeen Group plc owned about 7.53% of Corbus Pharmaceuticals worth $10,759,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Corbus Pharmaceuticals by 2.1% in the third quarter. Vanguard Group Inc. now owns 612,030 shares of the biopharmaceutical company's stock worth $7,742,000 after acquiring an additional 12,535 shares in the last quarter. Assenagon Asset Management S.A. increased its position in shares of Corbus Pharmaceuticals by 120.2% in the fourth quarter. Assenagon Asset Management S.A. now owns 187,956 shares of the biopharmaceutical company's stock worth $1,530,000 after acquiring an additional 102,609 shares in the last quarter. HighVista Strategies LLC increased its position in shares of Corbus Pharmaceuticals by 56.8% in the third quarter. HighVista Strategies LLC now owns 118,027 shares of the biopharmaceutical company's stock worth $1,493,000 after acquiring an additional 42,735 shares in the last quarter. AQR Capital Management LLC purchased a new position in shares of Corbus Pharmaceuticals in the first quarter worth approximately $573,000. Finally, Bank of America Corp DE lifted its stake in Corbus Pharmaceuticals by 333.6% in the 2nd quarter. Bank of America Corp DE now owns 71,893 shares of the biopharmaceutical company's stock worth $496,000 after acquiring an additional 55,314 shares in the last quarter. 64.64% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on CRBP shares. Oppenheimer increased their price objective on Corbus Pharmaceuticals from $53.00 to $57.00 and gave the stock an "outperform" rating in a research note on Tuesday, March 10th. Weiss Ratings reissued a "sell (d-)" rating on shares of Corbus Pharmaceuticals in a research note on Wednesday, January 21st. Finally, Jefferies Financial Group raised Corbus Pharmaceuticals to a "strong-buy" rating in a research note on Wednesday, February 18th. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and two have given a Sell rating to the company. According to MarketBeat.com, Corbus Pharmaceuticals presently has a consensus rating of "Moderate Buy" and a consensus target price of $43.71.

Corbus Pharmaceuticals Stock Down 4.2%

Corbus Pharmaceuticals stock opened at $9.71 on Wednesday. The company's fifty day simple moving average is $8.56 and its 200-day simple moving average is $10.43. Corbus Pharmaceuticals Holdings, Inc. has a 12 month low of $5.12 and a 12 month high of $20.56. The stock has a market cap of $172.22 million, a P/E ratio of -1.62 and a beta of 2.78.

Corbus Pharmaceuticals (NASDAQ:CRBP - Get Free Report) last posted its quarterly earnings results on Monday, March 9th. The biopharmaceutical company reported ($1.25) EPS for the quarter, beating the consensus estimate of ($1.78) by $0.53. On average, equities research analysts expect that Corbus Pharmaceuticals Holdings, Inc. will post -4.23 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Dominic Smethurst sold 3,285 shares of the firm's stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $8.09, for a total transaction of $26,575.65. Following the transaction, the insider owned 95,887 shares of the company's stock, valued at approximately $775,725.83. This trade represents a 3.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 4.00% of the company's stock.

Corbus Pharmaceuticals Profile

Corbus Pharmaceuticals Holdings, Inc is a clinical-stage biopharmaceutical company dedicated to the development and commercialization of therapeutic candidates for rare, life-threatening inflammatory and fibrotic diseases. The company's lead investigational therapy, lenabasum, is a synthetic, oral cannabinoid receptor type 2 (CB2) agonist designed to resolve chronic inflammation by harnessing the body's innate resolution pathways. Corbus operates by advancing small-molecule compounds through preclinical and clinical studies to address unmet medical needs in autoimmune and inflammatory disorders.

Lenabasum is currently under evaluation in a Phase 3 clinical trial for diffuse cutaneous systemic sclerosis (dcSSc) and in a Phase 2 study for cystic fibrosis–related inflammation.

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