Nuveen Asset Management LLC Sells 101,232 Shares of Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP)

Nuveen Asset Management LLC lessened its holdings in Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP - Free Report) by 77.8% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 28,938 shares of the biopharmaceutical company's stock after selling 101,232 shares during the period. Nuveen Asset Management LLC owned approximately 0.24% of Corbus Pharmaceuticals worth $341,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Wells Fargo & Company MN boosted its holdings in shares of Corbus Pharmaceuticals by 51.7% in the 4th quarter. Wells Fargo & Company MN now owns 6,444 shares of the biopharmaceutical company's stock worth $76,000 after buying an additional 2,195 shares during the last quarter. Deutsche Bank AG boosted its stake in Corbus Pharmaceuticals by 46.8% in the fourth 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 last quarter. Aquatic Capital Management LLC purchased a new position in Corbus Pharmaceuticals in the fourth quarter valued at about $101,000. BNP Paribas Financial Markets bought a new position in shares of Corbus Pharmaceuticals during the 4th quarter valued at approximately $323,000. Finally, Jump Financial LLC purchased a new stake in shares of Corbus Pharmaceuticals during the 4th quarter worth approximately $339,000. 64.64% of the stock is owned by institutional investors.

Analyst Ratings Changes

CRBP has been the topic of several research analyst reports. Oppenheimer dropped their price objective on Corbus Pharmaceuticals from $60.00 to $56.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 7th. William Blair began coverage on Corbus Pharmaceuticals in a research report on Friday, February 28th. They set an "outperform" rating on the stock. Royal Bank of Canada decreased their price objective on Corbus Pharmaceuticals from $65.00 to $58.00 and set an "outperform" rating for the company in a report on Wednesday, May 7th. Wall Street Zen upgraded Corbus Pharmaceuticals to a "sell" rating in a research note on Thursday, March 6th. Finally, HC Wainwright cut their target price on shares of Corbus Pharmaceuticals from $50.00 to $40.00 and set a "buy" rating for the company in a research report on Wednesday, May 7th. One analyst has rated the stock with a sell rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $50.88.

Corbus Pharmaceuticals Trading Down 0.2%

Shares of CRBP traded down $0.02 during mid-day trading on Monday, reaching $9.21. 151,509 shares of the stock traded hands, compared to its average volume of 353,011. Corbus Pharmaceuticals Holdings, Inc. has a 1 year low of $4.64 and a 1 year high of $61.90. The firm has a fifty day moving average price of $6.88 and a 200 day moving average price of $9.41. The company has a market cap of $112.70 million, a price-to-earnings ratio of -1.96 and a beta of 3.11.

Corbus Pharmaceuticals (NASDAQ:CRBP - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The biopharmaceutical company reported ($1.39) earnings per share for the quarter, missing the consensus estimate of ($1.26) by ($0.13). On average, sell-side analysts anticipate that Corbus Pharmaceuticals Holdings, Inc. will post -4.23 EPS for the current year.

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.