Tang Capital Management LLC Cuts Stake in Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP)

Tang Capital Management LLC lessened its position in shares of Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP - Free Report) by 59.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 242,653 shares of the biopharmaceutical company's stock after selling 357,347 shares during the period. Tang Capital Management LLC owned approximately 1.99% of Corbus Pharmaceuticals worth $2,863,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. JPMorgan Chase & Co. increased its holdings in Corbus Pharmaceuticals by 27.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,507 shares of the biopharmaceutical company's stock worth $114,000 after acquiring an additional 1,172 shares during the period. Wells Fargo & Company MN increased its holdings in Corbus Pharmaceuticals by 51.7% during the 4th quarter. Wells Fargo & Company MN now owns 6,444 shares of the biopharmaceutical company's stock worth $76,000 after acquiring an additional 2,195 shares during the period. Avanza Fonder AB bought a new stake in Corbus Pharmaceuticals during the 4th quarter worth approximately $84,000. Deutsche Bank AG increased its holdings in Corbus Pharmaceuticals by 46.8% during the 4th quarter. Deutsche Bank AG now owns 8,206 shares of the biopharmaceutical company's stock worth $97,000 after acquiring an additional 2,616 shares during the period. Finally, Aquatic Capital Management LLC bought a new stake in Corbus Pharmaceuticals during the 4th quarter worth approximately $101,000. Institutional investors own 64.64% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CRBP. William Blair assumed coverage on Corbus Pharmaceuticals in a research report on Friday, February 28th. They set an "outperform" rating for the company. StockNews.com raised shares of Corbus Pharmaceuticals to a "sell" rating in a research note on Thursday, March 6th. B. Riley reissued a "buy" rating on shares of Corbus Pharmaceuticals in a research note on Wednesday, May 7th. Oppenheimer decreased their price target on shares of Corbus Pharmaceuticals from $60.00 to $56.00 and set an "outperform" rating on the stock in a report on Wednesday, May 7th. Finally, Wedbush reaffirmed an "outperform" rating and set a $51.00 price objective on shares of Corbus Pharmaceuticals in a report on Wednesday, March 12th. One analyst has rated the stock with a sell rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $50.88.

Corbus Pharmaceuticals Stock Down 2.1%

Shares of Corbus Pharmaceuticals stock traded down $0.16 during trading on Wednesday, hitting $7.41. 107,094 shares of the stock traded hands, compared to its average volume of 357,204. The stock has a market cap of $90.68 million, a price-to-earnings ratio of -1.58 and a beta of 3.19. The firm's fifty day moving average is $6.40 and its 200-day moving average is $10.37. Corbus Pharmaceuticals Holdings, Inc. has a 52 week low of $4.64 and a 52 week high of $61.90.

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

Corbus Pharmaceuticals Company 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.