Exome Asset Management LLC Invests $1.54 Million in Corbus Pharmaceuticals Holdings, Inc. $CRBP

Key Points

• Exome Asset Management LLC acquired 289,690 shares of Corbus Pharmaceuticals, valued at approximately $1,538,000, representing about 2.37% of the company's stock.
• Several institutional investors, including Millennium Management and Orbimed Advisors, have significantly increased their holdings in Corbus Pharmaceuticals, reflecting growing interest in the biopharmaceutical company.
• Corbus Pharmaceuticals reported earnings per share of ($1.44), surpassing analysts' estimates, and currently holds a consensus rating of "Buy" with a target price of $49.00.

Exome Asset Management LLC acquired a new stake in shares of Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 289,690 shares of the biopharmaceutical company's stock, valued at approximately $1,538,000. Exome Asset Management LLC owned 2.37% of Corbus Pharmaceuticals as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the company. AQR Capital Management LLC purchased a new position in shares of Corbus Pharmaceuticals during the first quarter valued at approximately $573,000. Armistice Capital LLC lifted its stake in shares of Corbus Pharmaceuticals by 5.9% during the first quarter. Armistice Capital LLC now owns 250,000 shares of the biopharmaceutical company's stock valued at $1,328,000 after buying an additional 14,000 shares during the period. Velan Capital Investment Management LP lifted its stake in shares of Corbus Pharmaceuticals by 4.1% during the first quarter. Velan Capital Investment Management LP now owns 59,000 shares of the biopharmaceutical company's stock valued at $313,000 after buying an additional 2,300 shares during the period. Comerica Bank lifted its stake 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 buying an additional 200,000 shares during the period. Finally, Stonepine Capital Management LLC purchased a new position in shares of Corbus Pharmaceuticals during the first quarter valued at approximately $186,000. Hedge funds and other institutional investors own 64.64% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on CRBP shares. Oppenheimer reduced their price objective on shares of Corbus Pharmaceuticals from $56.00 to $53.00 and set an "outperform" rating on the stock in a research note on Wednesday, August 6th. B. Riley raised shares of Corbus Pharmaceuticals to a "strong-buy" rating and set a $28.00 price target for the company in a research report on Wednesday, July 30th. Finally, Lifesci Capital raised shares of Corbus Pharmaceuticals to a "strong-buy" rating in a research report on Saturday, July 12th. One equities 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 data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $49.00.

Corbus Pharmaceuticals Price Performance

Shares of Corbus Pharmaceuticals stock remained flat at $9.50 during trading hours on Friday. 75,107 shares of the stock traded hands, compared to its average volume of 85,856. Corbus Pharmaceuticals Holdings, Inc. has a 52 week low of $4.64 and a 52 week high of $56.93. The firm has a fifty day moving average price of $9.15 and a two-hundred day moving average price of $7.78. The firm has a market cap of $116.47 million, a P/E ratio of -2.00 and a beta of 3.08.

Corbus Pharmaceuticals (NASDAQ:CRBP - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The biopharmaceutical company reported ($1.44) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.55) by $0.11. Analysts anticipate 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.