Corbus Pharmaceuticals (NASDAQ:CRBP) Now Covered by Piper Sandler

Piper Sandler assumed coverage on shares of Corbus Pharmaceuticals (NASDAQ:CRBP) in a research note released on Monday, Marketbeat Ratings reports. The brokerage issued an overweight rating and a $35.00 price target on the biopharmaceutical company’s stock.

A number of other equities research analysts have also commented on the company. Lifesci Capital raised Corbus Pharmaceuticals to a “strong-buy” rating in a research report on Wednesday, August 21st. Wedbush reissued an “outperform” rating and issued a $51.00 target price on shares of Corbus Pharmaceuticals in a research report on Monday, November 4th. HC Wainwright reissued a “buy” rating and issued a $80.00 target price on shares of Corbus Pharmaceuticals in a research report on Monday, September 23rd. StockNews.com lowered Corbus Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, August 10th. Finally, B. Riley dropped their target price on Corbus Pharmaceuticals from $85.00 to $40.00 and set a “buy” rating on the stock in a research report on Friday, September 20th. One investment analyst has rated the stock with a sell rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $62.00.

Corbus Pharmaceuticals Price Performance

NASDAQ CRBP opened at $16.05 on Monday. The firm has a market cap of $195.47 million, a P/E ratio of -3.42 and a beta of 2.57. The stock’s 50-day moving average is $18.04 and its 200-day moving average is $39.04. Corbus Pharmaceuticals has a one year low of $4.94 and a one year high of $61.90.

Insider Buying and Selling at Corbus Pharmaceuticals

In related news, major shareholder Cormorant Asset Management, Lp purchased 350,000 shares of the firm’s stock in a transaction on Friday, September 20th. The stock was purchased at an average cost of $20.01 per share, for a total transaction of $7,003,500.00. Following the completion of the purchase, the insider now directly owns 2,375,000 shares in the company, valued at $47,523,750. This trade represents a 17.28 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 4.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. The Manufacturers Life Insurance Company boosted its stake in shares of Corbus Pharmaceuticals by 7.6% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 22,731 shares of the biopharmaceutical company’s stock worth $469,000 after acquiring an additional 1,600 shares during the period. FMR LLC boosted its stake in shares of Corbus Pharmaceuticals by 33.0% during the 3rd quarter. FMR LLC now owns 10,028 shares of the biopharmaceutical company’s stock worth $207,000 after acquiring an additional 2,486 shares during the period. Vestcor Inc bought a new position in shares of Corbus Pharmaceuticals during the 3rd quarter worth approximately $64,000. Victory Capital Management Inc. boosted its stake in shares of Corbus Pharmaceuticals by 29.9% during the 3rd quarter. Victory Capital Management Inc. now owns 24,760 shares of the biopharmaceutical company’s stock worth $511,000 after acquiring an additional 5,700 shares during the period. Finally, MetLife Investment Management LLC bought a new position in shares of Corbus Pharmaceuticals during the 3rd quarter worth approximately $123,000. 64.64% of the stock is currently owned by institutional investors.

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.