Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) Shares Purchased by Prosight Management LP

Prosight Management LP grew its position in shares of Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP - Free Report) by 107.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 270,000 shares of the biopharmaceutical company's stock after purchasing an additional 140,000 shares during the quarter. Corbus Pharmaceuticals makes up about 0.9% of Prosight Management LP's investment portfolio, making the stock its 27th largest position. Prosight Management LP owned 2.22% of Corbus Pharmaceuticals worth $3,186,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. JPMorgan Chase & Co. increased its holdings in shares of Corbus Pharmaceuticals by 27.0% in the third quarter. JPMorgan Chase & Co. now owns 5,507 shares of the biopharmaceutical company's stock worth $114,000 after buying an additional 1,172 shares during the period. Wells Fargo & Company MN increased its stake in Corbus Pharmaceuticals by 51.7% in the 4th quarter. Wells Fargo & Company MN now owns 6,444 shares of the biopharmaceutical company's stock worth $76,000 after purchasing an additional 2,195 shares during the period. Avanza Fonder AB bought a new stake in Corbus Pharmaceuticals in the fourth quarter valued at approximately $84,000. Deutsche Bank AG boosted 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 purchasing an additional 2,616 shares during the period. Finally, Aquatic Capital Management LLC bought a new position in shares of Corbus Pharmaceuticals in the fourth quarter worth approximately $101,000. 64.64% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on CRBP. B. Riley reissued a "buy" rating on shares of Corbus Pharmaceuticals in a research report on Wednesday, May 7th. William Blair assumed coverage on Corbus Pharmaceuticals in a research note on Friday, February 28th. They issued an "outperform" rating for the company. Oppenheimer cut their price objective on shares of Corbus Pharmaceuticals from $60.00 to $56.00 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 target on shares of Corbus Pharmaceuticals in a report on Wednesday, March 12th. Finally, Royal Bank of Canada cut their price target on Corbus Pharmaceuticals from $65.00 to $58.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Corbus Pharmaceuticals presently has a consensus rating of "Moderate Buy" and an average target price of $50.88.

Corbus Pharmaceuticals Stock Performance

Shares of NASDAQ:CRBP traded down $0.15 during trading hours on Tuesday, reaching $7.61. The stock had a trading volume of 116,245 shares, compared to its average volume of 209,946. The stock has a market capitalization of $93.12 million, a price-to-earnings ratio of -1.63 and a beta of 3.19. The firm's 50 day moving average is $6.38 and its 200-day moving average is $10.39. Corbus Pharmaceuticals Holdings, Inc. has a 1 year low of $4.64 and a 1 year high of $61.90.

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