45,689 Shares in Corbus Pharmaceuticals Holdings, Inc. $CRBP Purchased by Nuveen LLC

Key Points

• Nuveen LLC has acquired a new position in Corbus Pharmaceuticals, purchasing 45,689 shares valued at approximately $243,000, representing around 0.37% of the company.
• The stock has experienced a remarkable 342% year-to-date surge and currently has a market cap of $120.88 million, with shares trading at approximately $9.86.
• Despite posting earnings of ($1.44) EPS, Corbus Pharmaceuticals surpassed analysts' expectations, and brokerages are bullish, with a consensus rating of "Buy" and an average price target of $49.00.

Nuveen LLC purchased a new position in Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 45,689 shares of the biopharmaceutical company's stock, valued at approximately $243,000. Nuveen LLC owned about 0.37% of Corbus Pharmaceuticals as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. 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 increased its stake 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 valued at $97,000 after buying an additional 2,616 shares during the period. Velan Capital Investment Management LP increased its stake in shares of Corbus Pharmaceuticals by 13.4% during the fourth quarter. Velan Capital Investment Management LP now owns 56,700 shares of the biopharmaceutical company's stock valued at $669,000 after buying an additional 6,700 shares during the period. Bank of America Corp DE increased its stake in shares of Corbus Pharmaceuticals by 29.7% during the fourth quarter. Bank of America Corp DE now owns 31,475 shares of the biopharmaceutical company's stock valued at $371,000 after buying an additional 7,207 shares during the period. Finally, Two Sigma Advisers LP purchased a new position in shares of Corbus Pharmaceuticals during the fourth quarter valued at $130,000. 64.64% of the stock is currently owned by institutional investors.

Corbus Pharmaceuticals Price Performance

NASDAQ CRBP traded down $0.16 during trading on Thursday, hitting $9.50. The company's stock had a trading volume of 61,455 shares, compared to its average volume of 88,696. The company has a market cap of $116.47 million, a PE ratio of -2.00 and a beta of 3.08. The business's 50 day simple moving average is $9.11 and its 200-day simple moving average is $7.76. Corbus Pharmaceuticals Holdings, Inc. has a fifty-two week low of $4.64 and a fifty-two week high of $56.93.

Corbus Pharmaceuticals (NASDAQ:CRBP - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The biopharmaceutical company reported ($1.44) earnings per share for the quarter, topping the consensus estimate of ($1.55) by $0.11. Analysts expect that Corbus Pharmaceuticals Holdings, Inc. will post -4.23 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently commented on CRBP. Oppenheimer cut their price target on 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 upgraded Corbus Pharmaceuticals to a "strong-buy" rating and set a $28.00 price target on the stock in a research note on Wednesday, July 30th. Finally, Lifesci Capital upgraded Corbus Pharmaceuticals to a "strong-buy" rating in a research note on Saturday, July 12th. One analyst has rated the stock with a Strong Buy rating and nine have issued a Buy rating to the stock. According to MarketBeat.com, Corbus Pharmaceuticals has an average rating of "Buy" and a consensus target price of $49.00.

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.