Exome Asset Management LLC Has $2.20 Million Holdings in Corbus Pharmaceuticals Holdings, Inc. $CRBP

Exome Asset Management LLC lifted its position in Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) by 67.8% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 234,136 shares of the biopharmaceutical company’s stock after acquiring an additional 94,593 shares during the quarter. Exome Asset Management LLC’s holdings in Corbus Pharmaceuticals were worth $2,199,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Aberdeen Group plc grew its position in Corbus Pharmaceuticals by 602.2% during the 4th quarter. Aberdeen Group plc now owns 1,321,750 shares of the biopharmaceutical company’s stock worth $10,759,000 after purchasing an additional 1,133,519 shares in the last quarter. Orbimed Advisors LLC lifted its holdings in shares of Corbus Pharmaceuticals by 36.3% in the fourth quarter. Orbimed Advisors LLC now owns 1,597,287 shares of the biopharmaceutical company’s stock valued at $13,002,000 after purchasing an additional 425,000 shares in the last quarter. Armistice Capital LLC boosted its position in shares of Corbus Pharmaceuticals by 179.2% in the fourth quarter. Armistice Capital LLC now owns 536,000 shares of the biopharmaceutical company’s stock worth $4,363,000 after buying an additional 344,000 shares during the period. Prosight Management LP boosted its position in shares of Corbus Pharmaceuticals by 99.1% in the fourth quarter. Prosight Management LP now owns 683,872 shares of the biopharmaceutical company’s stock worth $5,567,000 after buying an additional 340,472 shares during the period. Finally, ADAR1 Capital Management LLC grew its holdings in shares of Corbus Pharmaceuticals by 2,711.6% during the fourth quarter. ADAR1 Capital Management LLC now owns 286,781 shares of the biopharmaceutical company’s stock valued at $2,334,000 after buying an additional 276,581 shares in the last quarter. Institutional investors and hedge funds own 64.64% of the company’s stock.

Insiders Place Their Bets

In related news, Director John Kenneth Jenkins sold 4,800 shares of Corbus Pharmaceuticals stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $7.91, for a total value of $37,968.00. Following the completion of the sale, the director owned 3,833 shares of the company’s stock, valued at approximately $30,319.03. The trade was a 55.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Nishant C. Saxena acquired 9,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was acquired at an average price of $7.58 per share, with a total value of $68,220.00. Following the completion of the acquisition, the insider directly owned 75,300 shares of the company’s stock, valued at $570,774. This represents a 13.57% increase in their position. The SEC filing for this purchase provides additional information. Insiders have sold a total of 9,238 shares of company stock worth $73,073 in the last 90 days. 3.50% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Jefferies Financial Group dropped their price target on Corbus Pharmaceuticals from $36.00 to $33.00 and set a “buy” rating on the stock in a research report on Tuesday, May 12th. Guggenheim reaffirmed a “buy” rating on shares of Corbus Pharmaceuticals in a research note on Tuesday, May 26th. HC Wainwright reiterated a “buy” rating and issued a $40.00 target price on shares of Corbus Pharmaceuticals in a report on Tuesday, May 26th. Mizuho reduced their price target on shares of Corbus Pharmaceuticals from $44.00 to $34.00 and set an “outperform” rating for the company in a research report on Tuesday, June 23rd. Finally, Oppenheimer decreased their price target on shares of Corbus Pharmaceuticals from $54.00 to $52.00 and set an “outperform” rating for the company in a report on Wednesday, June 17th. Nine investment analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $40.67.

Corbus Pharmaceuticals Stock Performance

Shares of CRBP opened at $9.08 on Tuesday. The firm has a market cap of $168.25 million, a PE ratio of -1.56 and a beta of 2.55. The firm’s 50 day moving average price is $8.73 and its 200 day moving average price is $8.98. Corbus Pharmaceuticals Holdings, Inc. has a twelve month low of $7.12 and a twelve month high of $20.56.

Corbus Pharmaceuticals (NASDAQ:CRBP) last posted its earnings results on Tuesday, May 12th. The biopharmaceutical company reported ($1.23) EPS for the quarter, topping the consensus estimate of ($1.26) by $0.03. On average, sell-side analysts anticipate that Corbus Pharmaceuticals Holdings, Inc. will post -4.87 earnings per share for the current fiscal year.

Corbus Pharmaceuticals Profile

Corbus Pharmaceuticals Holdings, Inc is a clinical-stage biopharmaceutical company dedicated to the development and commercialization of therapeutic candidates for rare, life-threatening inflammatory and fibrotic diseases. The company’s lead investigational therapy, lenabasum, is a synthetic, oral cannabinoid receptor type 2 (CB2) agonist designed to resolve chronic inflammation by harnessing the body’s innate resolution pathways. Corbus operates by advancing small-molecule compounds through preclinical and clinical studies to address unmet medical needs in autoimmune and inflammatory disorders.

Lenabasum is currently under evaluation in a Phase 3 clinical trial for diffuse cutaneous systemic sclerosis (dcSSc) and in a Phase 2 study for cystic fibrosis–related inflammation.