Orbimed Advisors LLC Acquires 140,000 Shares of Corbus Pharmaceuticals Holdings, Inc. $CRBP

Orbimed Advisors LLC raised its holdings in Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) by 8.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,737,287 shares of the biopharmaceutical company’s stock after buying an additional 140,000 shares during the quarter. Orbimed Advisors LLC owned about 9.38% of Corbus Pharmaceuticals worth $16,313,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Persistent Asset Partners Ltd bought a new position in shares of Corbus Pharmaceuticals during the fourth quarter valued at approximately $54,000. Virtu Financial LLC purchased a new stake in Corbus Pharmaceuticals in the fourth quarter worth $88,000. Barclays PLC boosted its holdings in Corbus Pharmaceuticals by 280.0% in the fourth quarter. Barclays PLC now owns 14,758 shares of the biopharmaceutical company’s stock valued at $120,000 after acquiring an additional 10,874 shares in the last quarter. ADAR1 Capital Management LLC bought a new stake in Corbus Pharmaceuticals in the third quarter valued at $129,000. Finally, Marshall Wace LLP purchased a new position in Corbus Pharmaceuticals during the 2nd quarter valued at $137,000. 64.64% of the stock is currently owned by institutional investors.

Insider Activity

In other Corbus Pharmaceuticals news, Director John Kenneth Jenkins sold 4,800 shares of the company’s stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $7.91, for a total value of $37,968.00. Following the sale, the director owned 3,833 shares in the company, valued at approximately $30,319.03. This represents a 55.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Nishant C. Saxena acquired 9,000 shares of the business’s stock in a transaction on Wednesday, June 3rd. The stock was acquired at an average price of $7.58 per share, for a total transaction of $68,220.00. Following the acquisition, the insider owned 75,300 shares of the company’s stock, valued at approximately $570,774. This trade represents a 13.57% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have sold 9,238 shares of company stock worth $73,073 in the last three months. 3.50% of the stock is currently owned by insiders.

Corbus Pharmaceuticals Stock Performance

Shares of Corbus Pharmaceuticals stock opened at $9.17 on Monday. The firm has a market capitalization of $169.92 million, a P/E ratio of -1.58 and a beta of 2.55. The business has a fifty day simple moving average of $8.75 and a two-hundred day simple moving average of $8.98. Corbus Pharmaceuticals Holdings, Inc. has a 12 month low of $7.12 and a 12 month high of $20.56.

Corbus Pharmaceuticals (NASDAQ:CRBP) last released its earnings results on Tuesday, May 12th. The biopharmaceutical company reported ($1.23) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.26) by $0.03. Analysts predict that Corbus Pharmaceuticals Holdings, Inc. will post -4.87 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have commented on the stock. Wedbush decreased their price objective on shares of Corbus Pharmaceuticals from $38.00 to $30.00 and set an “outperform” rating for the company in a report on Wednesday, May 27th. Mizuho reduced their price target on shares of Corbus Pharmaceuticals from $44.00 to $34.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 23rd. 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 research note on Wednesday, June 17th. Jefferies Financial Group lowered their price objective on shares of Corbus Pharmaceuticals from $36.00 to $33.00 and set a “buy” rating for the company in a report on Tuesday, May 12th. Finally, Guggenheim reaffirmed a “buy” rating on shares of Corbus Pharmaceuticals in a research report on Tuesday, May 26th. Nine research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company. According to MarketBeat, Corbus Pharmaceuticals currently has an average rating of “Moderate Buy” and an average price target of $40.67.

Corbus Pharmaceuticals Company 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.