Two Sigma Investments LP Raises Position in Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP)

Two Sigma Investments LP raised its holdings in Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP - Free Report) by 212.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 134,175 shares of the biopharmaceutical company's stock after acquiring an additional 91,205 shares during the period. Two Sigma Investments LP owned approximately 1.10% of Corbus Pharmaceuticals worth $1,583,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Prosight Management LP increased its position in shares of Corbus Pharmaceuticals by 107.7% during the 4th quarter. Prosight Management LP now owns 270,000 shares of the biopharmaceutical company's stock valued at $3,186,000 after purchasing an additional 140,000 shares during the last quarter. Orbimed Advisors LLC grew its position in shares of Corbus Pharmaceuticals by 28.5% in the 4th quarter. Orbimed Advisors LLC now owns 1,172,287 shares of the biopharmaceutical company's stock worth $13,833,000 after buying an additional 259,735 shares during the last quarter. Millennium Management LLC grew its position in shares of Corbus Pharmaceuticals by 215.0% in the 4th quarter. Millennium Management LLC now owns 386,653 shares of the biopharmaceutical company's stock worth $4,563,000 after buying an additional 263,902 shares during the last quarter. Deutsche Bank AG lifted its stake in shares of Corbus Pharmaceuticals by 46.8% in the 4th quarter. Deutsche Bank AG now owns 8,206 shares of the biopharmaceutical company's stock valued at $97,000 after purchasing an additional 2,616 shares during the period. Finally, Bank of America Corp DE lifted its stake in shares of Corbus Pharmaceuticals by 29.7% in the 4th quarter. Bank of America Corp DE now owns 31,475 shares of the biopharmaceutical company's stock valued at $371,000 after purchasing an additional 7,207 shares during the period. Hedge funds and other institutional investors own 64.64% of the company's stock.

Corbus Pharmaceuticals Trading Up 4.9%

Shares of NASDAQ:CRBP traded up $0.43 during mid-day trading on Friday, reaching $9.23. The stock had a trading volume of 151,529 shares, compared to its average volume of 353,381. The company has a market cap of $112.95 million, a P/E ratio of -1.97 and a beta of 3.11. Corbus Pharmaceuticals Holdings, Inc. has a 1 year low of $4.64 and a 1 year high of $61.90. The business's 50 day moving average price is $6.88 and its 200 day moving average price is $9.51.

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

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Jefferies Financial Group lowered their price objective on Corbus Pharmaceuticals from $70.00 to $53.00 and set a "buy" rating for the company in a research note on Tuesday, March 11th. B. Riley reissued a "buy" rating on shares of Corbus Pharmaceuticals in a report on Wednesday, May 7th. Royal Bank of Canada cut 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. Wedbush reaffirmed an "outperform" rating and issued a $51.00 price objective on shares of Corbus Pharmaceuticals in a report on Wednesday, March 12th. Finally, Wall Street Zen raised Corbus Pharmaceuticals to a "sell" rating in a report on Thursday, March 6th. One research analyst has rated the stock with a sell rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $50.88.

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.