Price T Rowe Associates Inc. MD Sells 160,933 Shares of Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP)

Price T Rowe Associates Inc. MD cut its holdings in Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP - Free Report) by 49.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 164,735 shares of the biopharmaceutical company's stock after selling 160,933 shares during the quarter. Price T Rowe Associates Inc. MD owned 1.35% of Corbus Pharmaceuticals worth $1,945,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Wells Fargo & Company MN boosted its position 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 last quarter. Avanza Fonder AB bought a new position in Corbus Pharmaceuticals during the 4th quarter valued at about $84,000. JPMorgan Chase & Co. boosted its holdings in shares of Corbus Pharmaceuticals by 27.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,507 shares of the biopharmaceutical company's stock valued at $114,000 after acquiring an additional 1,172 shares during the last quarter. Jump Financial LLC bought a new stake in shares of Corbus Pharmaceuticals in the fourth quarter worth approximately $339,000. Finally, Walleye Capital LLC raised its holdings in shares of Corbus Pharmaceuticals by 49.4% during the fourth quarter. Walleye Capital LLC now owns 55,236 shares of the biopharmaceutical company's stock valued at $652,000 after purchasing an additional 18,273 shares during the last quarter. 64.64% of the stock is currently owned by hedge funds and other institutional investors.

Corbus Pharmaceuticals Price Performance

Shares of NASDAQ CRBP opened at $6.16 on Thursday. 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 $6.34 and a 200-day moving average price of $11.00. The stock has a market cap of $75.29 million, a PE ratio of -1.31 and a beta of 3.19.

Corbus Pharmaceuticals (NASDAQ:CRBP - Get Free Report) last posted its quarterly 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). On average, research analysts expect that Corbus Pharmaceuticals Holdings, Inc. will post -4.23 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Oppenheimer cut their target price on shares of Corbus Pharmaceuticals from $60.00 to $56.00 and set an "outperform" rating for the company in a research report on Wednesday. HC Wainwright reduced their price objective on Corbus Pharmaceuticals from $50.00 to $40.00 and set a "buy" rating for the company in a research report on Wednesday. Jefferies Financial Group dropped their target price on Corbus Pharmaceuticals from $70.00 to $53.00 and set a "buy" rating on the stock in a research report on Tuesday, March 11th. Wedbush reaffirmed an "outperform" rating and set a $51.00 price target on shares of Corbus Pharmaceuticals in a research report on Wednesday, March 12th. Finally, Royal Bank of Canada dropped their price objective on shares of Corbus Pharmaceuticals from $65.00 to $58.00 and set an "outperform" rating on the stock in a report on Wednesday. One research analyst has rated the stock with a sell rating, nine have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average 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.

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