Y Intercept Hong Kong Ltd Takes $379,000 Position in Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP)

Y Intercept Hong Kong Ltd purchased a new position in Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 18,372 shares of the biopharmaceutical company’s stock, valued at approximately $379,000.

A number of other large investors also recently modified their holdings of the company. MetLife Investment Management LLC purchased a new stake in Corbus Pharmaceuticals in the 3rd quarter worth approximately $123,000. SG Americas Securities LLC bought a new position in shares of Corbus Pharmaceuticals in the third quarter worth $151,000. FMR LLC increased its holdings in shares of Corbus Pharmaceuticals by 33.0% in the third quarter. FMR LLC now owns 10,028 shares of the biopharmaceutical company’s stock worth $207,000 after purchasing an additional 2,486 shares during the period. Rhumbline Advisers purchased a new stake in shares of Corbus Pharmaceuticals in the second quarter worth $638,000. Finally, Acadian Asset Management LLC bought a new stake in Corbus Pharmaceuticals during the second quarter valued at $716,000. 64.64% of the stock is currently owned by institutional investors.

Insider Activity

In related news, major shareholder Cormorant Asset Management, Lp acquired 350,000 shares of the stock in a transaction on Friday, September 20th. The stock was purchased at an average price of $20.01 per share, for a total transaction of $7,003,500.00. Following the completion of the transaction, the insider now owns 2,375,000 shares of the company’s stock, valued at $47,523,750. This trade represents a 17.28 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 4.00% of the company’s stock.

Corbus Pharmaceuticals Stock Performance

CRBP stock opened at $14.28 on Tuesday. The firm has a market cap of $173.92 million, a P/E ratio of -3.04 and a beta of 2.57. The firm’s fifty day moving average is $17.37 and its 200 day moving average is $37.57. Corbus Pharmaceuticals Holdings, Inc. has a 52 week low of $5.09 and a 52 week high of $61.90.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on CRBP shares. Wedbush restated an “outperform” rating and issued a $51.00 target price on shares of Corbus Pharmaceuticals in a research note on Monday, November 4th. Royal Bank of Canada restated an “outperform” rating and issued a $82.00 price objective on shares of Corbus Pharmaceuticals in a research report on Friday, September 20th. HC Wainwright reiterated a “buy” rating and set a $80.00 target price on shares of Corbus Pharmaceuticals in a research report on Monday, September 23rd. Mizuho reissued an “outperform” rating and issued a $74.00 price target on shares of Corbus Pharmaceuticals in a report on Friday, September 20th. Finally, Lifesci Capital upgraded shares of Corbus Pharmaceuticals to a “strong-buy” rating in a research report on Wednesday, August 21st. One research analyst has rated the stock with a sell rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $62.00.

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.