Y Intercept Hong Kong Ltd Makes New $141,000 Investment in Corbus Pharmaceuticals Holdings, Inc. $CRBP

Y Intercept Hong Kong Ltd purchased a new stake in Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) in the second quarter, HoldingsChannel reports. The firm purchased 20,437 shares of the biopharmaceutical company’s stock, valued at approximately $141,000.

Other hedge funds have also modified their holdings of the company. Exome Asset Management LLC acquired a new position in Corbus Pharmaceuticals during the first quarter valued at approximately $1,538,000. Armistice Capital LLC boosted its position in shares of Corbus Pharmaceuticals by 5.9% during the first quarter. Armistice Capital LLC now owns 250,000 shares of the biopharmaceutical company’s stock worth $1,328,000 after purchasing an additional 14,000 shares in the last quarter. Comerica Bank grew its holdings in shares of Corbus Pharmaceuticals by 20,000,000.0% in the 1st quarter. Comerica Bank now owns 200,001 shares of the biopharmaceutical company’s stock valued at $1,062,000 after buying an additional 200,000 shares during the period. Acadian Asset Management LLC acquired a new position in shares of Corbus Pharmaceuticals in the 1st quarter valued at $1,007,000. Finally, Atle Fund Management AB increased its position in shares of Corbus Pharmaceuticals by 78.6% in the 2nd quarter. Atle Fund Management AB now owns 175,582 shares of the biopharmaceutical company’s stock valued at $1,212,000 after buying an additional 77,278 shares in the last quarter. 64.64% of the stock is currently owned by institutional investors and hedge funds.

Corbus Pharmaceuticals Price Performance

CRBP stock opened at $10.52 on Monday. The stock has a market capitalization of $128.92 million, a P/E ratio of -2.21 and a beta of 2.69. Corbus Pharmaceuticals Holdings, Inc. has a fifty-two week low of $4.64 and a fifty-two week high of $20.56. The business has a 50-day moving average of $13.26 and a 200-day moving average of $10.05.

Insider Buying and Selling

In other news, CFO Sean F. Moran sold 12,981 shares of Corbus Pharmaceuticals stock in a transaction that occurred on Friday, October 24th. The shares were sold at an average price of $17.02, for a total value of $220,936.62. Following the sale, the chief financial officer directly owned 73,313 shares in the company, valued at $1,247,787.26. This trade represents a 15.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Yuval Cohen sold 18,660 shares of the business’s stock in a transaction on Friday, October 24th. The stock was sold at an average price of $17.01, for a total transaction of $317,406.60. Following the completion of the sale, the chief executive officer directly owned 138,187 shares in the company, valued at approximately $2,350,560.87. This represents a 11.90% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 41,674 shares of company stock valued at $713,870. Insiders own 3.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on CRBP shares. Benchmark reiterated a “reduce” rating on shares of Corbus Pharmaceuticals in a report on Monday, October 20th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Corbus Pharmaceuticals in a report on Wednesday, October 8th. Mizuho set a $39.00 price objective on Corbus Pharmaceuticals in a research report on Wednesday, October 29th. Wedbush raised their target price on shares of Corbus Pharmaceuticals from $31.00 to $38.00 and gave the stock an “outperform” rating in a report on Monday, October 20th. Finally, B. Riley raised shares of Corbus Pharmaceuticals to a “strong-buy” rating and set a $28.00 price target on the stock in a research note on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, Corbus Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus target price of $45.00.

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.