Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) Shares Bought by Orbimed Advisors LLC

Orbimed Advisors LLC increased its stake in Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP - Free Report) by 28.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,172,287 shares of the biopharmaceutical company's stock after acquiring an additional 259,735 shares during the quarter. Orbimed Advisors LLC owned approximately 9.62% of Corbus Pharmaceuticals worth $13,833,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its stake in Corbus Pharmaceuticals by 27.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,507 shares of the biopharmaceutical company's stock worth $114,000 after purchasing an additional 1,172 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Corbus Pharmaceuticals by 4.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 97,882 shares of the biopharmaceutical company's stock worth $1,155,000 after acquiring an additional 4,239 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Corbus Pharmaceuticals by 5.5% during the 4th quarter. Geode Capital Management LLC now owns 263,532 shares of the biopharmaceutical company's stock worth $3,110,000 after acquiring an additional 13,773 shares during the period. Renaissance Technologies LLC boosted its position in shares of Corbus Pharmaceuticals by 769.4% during the 4th quarter. Renaissance Technologies LLC now owns 139,100 shares of the biopharmaceutical company's stock valued at $1,641,000 after acquiring an additional 123,100 shares during the last quarter. Finally, Altium Capital Management LLC boosted its position in shares of Corbus Pharmaceuticals by 97.4% during the 4th quarter. Altium Capital Management LLC now owns 385,000 shares of the biopharmaceutical company's stock valued at $4,543,000 after acquiring an additional 190,000 shares during the last quarter. 64.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Jefferies Financial Group reduced their target price on shares of Corbus Pharmaceuticals from $70.00 to $53.00 and set a "buy" rating on the stock in a research note on Tuesday, March 11th. B. Riley reaffirmed a "buy" rating on shares of Corbus Pharmaceuticals in a research report on Wednesday, May 7th. Oppenheimer decreased their price objective on Corbus Pharmaceuticals from $60.00 to $56.00 and set an "outperform" rating on the stock in a report on Wednesday, May 7th. Royal Bank of Canada cut their target price on Corbus Pharmaceuticals from $65.00 to $58.00 and set an "outperform" rating for the company in a research note on Wednesday, May 7th. Finally, Wedbush reaffirmed an "outperform" rating and issued a $51.00 price target on shares of Corbus Pharmaceuticals in a research note on Wednesday, March 12th. One analyst has rated the stock with a sell rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $50.88.

Corbus Pharmaceuticals Stock Performance

Shares of NASDAQ CRBP traded up $0.13 during trading on Friday, reaching $7.34. The stock had a trading volume of 65,451 shares, compared to its average volume of 358,359. The company has a market cap of $89.82 million, a P/E ratio of -1.57 and a beta of 3.19. Corbus Pharmaceuticals Holdings, Inc. has a fifty-two week low of $4.64 and a fifty-two week high of $61.90. The business's 50-day moving average price is $6.35 and its 200-day moving average price is $10.59.

Corbus Pharmaceuticals (NASDAQ:CRBP - Get Free Report) last released its earnings results 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). Analysts forecast that Corbus Pharmaceuticals Holdings, Inc. will post -4.23 EPS for the current fiscal 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.