Prosight Management LP Purchases 140,000 Shares of Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP)

Prosight Management LP increased its position in Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) by 107.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 270,000 shares of the biopharmaceutical company’s stock after purchasing an additional 140,000 shares during the quarter. Corbus Pharmaceuticals makes up 0.9% of Prosight Management LP’s portfolio, making the stock its 27th largest holding. Prosight Management LP owned approximately 2.22% of Corbus Pharmaceuticals worth $3,186,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its position in Corbus Pharmaceuticals by 27.0% in the third quarter. JPMorgan Chase & Co. now owns 5,507 shares of the biopharmaceutical company’s stock worth $114,000 after purchasing an additional 1,172 shares during the period. Wells Fargo & Company MN lifted its holdings in shares of Corbus Pharmaceuticals by 51.7% during the fourth quarter. Wells Fargo & Company MN now owns 6,444 shares of the biopharmaceutical company’s stock valued at $76,000 after acquiring an additional 2,195 shares during the period. Avanza Fonder AB acquired a new stake in shares of Corbus Pharmaceuticals in the 4th quarter valued at $84,000. Deutsche Bank AG boosted its stake in shares of Corbus Pharmaceuticals by 46.8% in the 4th quarter. Deutsche Bank AG now owns 8,206 shares of the biopharmaceutical company’s stock valued at $97,000 after purchasing an additional 2,616 shares in the last quarter. Finally, Aquatic Capital Management LLC acquired a new stake in shares of Corbus Pharmaceuticals in the 4th quarter valued at $101,000. 64.64% of the stock is owned by institutional investors.

Corbus Pharmaceuticals Stock Down 3.0%

Shares of CRBP stock opened at $7.04 on Thursday. The company’s fifty day simple moving average is $6.34 and its 200-day simple moving average is $10.66. The firm has a market cap of $86.15 million, a PE ratio of -1.50 and a beta of 3.19. Corbus Pharmaceuticals Holdings, Inc. has a 12 month low of $4.64 and a 12 month high of $61.90.

Corbus Pharmaceuticals (NASDAQ:CRBP) last announced its quarterly earnings data on Tuesday, May 6th. The biopharmaceutical company reported ($1.39) EPS for the quarter, missing analysts’ consensus estimates of ($1.26) by ($0.13). On average, equities analysts predict that Corbus Pharmaceuticals Holdings, Inc. will post -4.23 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CRBP. StockNews.com upgraded shares of Corbus Pharmaceuticals to a “sell” rating in a research note on Thursday, March 6th. B. Riley restated a “buy” rating on shares of Corbus Pharmaceuticals in a research report on Wednesday, May 7th. Wedbush restated an “outperform” rating and set a $51.00 target price on shares of Corbus Pharmaceuticals in a research report on Wednesday, March 12th. Oppenheimer decreased their target price on Corbus Pharmaceuticals from $60.00 to $56.00 and set an “outperform” rating for the company in a research report on Wednesday, May 7th. Finally, HC Wainwright decreased their target price 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. One investment analyst has rated the stock with a sell rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $50.88.

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.