35,000 Shares in Corbus Pharmaceuticals Holdings, Inc. $CRBP Acquired by Stonepine Capital Management LLC

Stonepine Capital Management LLC acquired a new position in shares of Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) in the 1st quarter, according to its most recent 13F filing with the SEC. The fund acquired 35,000 shares of the biopharmaceutical company’s stock, valued at approximately $186,000.

Several other institutional investors have also recently modified their holdings of the stock. AlphaQuest LLC acquired a new position in shares of Corbus Pharmaceuticals during the 1st quarter worth approximately $299,000. Nuveen LLC acquired a new position in shares of Corbus Pharmaceuticals during the 1st quarter worth approximately $243,000. Velan Capital Investment Management LP raised its position in shares of Corbus Pharmaceuticals by 13.4% during the 4th quarter. Velan Capital Investment Management LP now owns 56,700 shares of the biopharmaceutical company’s stock worth $669,000 after purchasing an additional 6,700 shares during the last quarter. Two Sigma Advisers LP acquired a new position in shares of Corbus Pharmaceuticals during the 4th quarter worth approximately $130,000. Finally, Two Sigma Investments LP raised its position in shares of Corbus Pharmaceuticals by 212.3% during the 4th quarter. Two Sigma Investments LP now owns 134,175 shares of the biopharmaceutical company’s stock worth $1,583,000 after purchasing an additional 91,205 shares during the last quarter. 64.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on CRBP shares. B. Riley upgraded Corbus Pharmaceuticals to a “strong-buy” rating and set a $28.00 price objective for the company in a research report on Wednesday, July 30th. HC Wainwright cut 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, May 7th. Oppenheimer cut their price target on Corbus Pharmaceuticals from $56.00 to $53.00 and set an “outperform” rating for the company in a report on Wednesday, August 6th. Lifesci Capital upgraded Corbus Pharmaceuticals to a “strong-buy” rating in a report on Saturday, July 12th. Finally, Royal Bank Of Canada cut their price target on Corbus Pharmaceuticals from $65.00 to $58.00 and set an “outperform” rating for the company in a report on Wednesday, May 7th. One investment analyst has rated the stock with a Strong Buy rating and nine have issued a Buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $49.00.

Corbus Pharmaceuticals Stock Performance

Shares of CRBP opened at $9.79 on Friday. The stock has a fifty day moving average of $8.59 and a two-hundred day moving average of $7.66. The company has a market capitalization of $120.03 million, a PE ratio of -2.06 and a beta of 3.20. Corbus Pharmaceuticals Holdings, Inc. has a fifty-two week low of $4.64 and a fifty-two week high of $61.72.

Corbus Pharmaceuticals (NASDAQ:CRBP) last issued its quarterly earnings results on Tuesday, August 5th. The biopharmaceutical company reported ($1.44) earnings per share for the quarter, beating the consensus estimate of ($1.55) by $0.11. As a group, equities research analysts forecast that Corbus Pharmaceuticals Holdings, Inc. will post -4.23 earnings per share for the current fiscal year.

Corbus Pharmaceuticals 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.