Dimensional Fund Advisors LP Raises Holdings in Corbus Pharmaceuticals Holdings, Inc. $CRBP

Dimensional Fund Advisors LP increased its position in Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) by 76.6% in the 1st quarter, Holdings Channel reports. The firm owned 136,602 shares of the biopharmaceutical company’s stock after buying an additional 59,248 shares during the period. Dimensional Fund Advisors LP’s holdings in Corbus Pharmaceuticals were worth $1,281,000 as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in CRBP. Velan Capital Investment Management LP grew its stake in Corbus Pharmaceuticals by 3.4% during the 3rd quarter. Velan Capital Investment Management LP now owns 61,000 shares of the biopharmaceutical company’s stock worth $772,000 after buying an additional 2,000 shares during the last quarter. Mariner LLC raised its position in Corbus Pharmaceuticals by 34.0% in the 3rd quarter. Mariner LLC now owns 20,840 shares of the biopharmaceutical company’s stock valued at $264,000 after purchasing an additional 5,289 shares during the last quarter. Persistent Asset Partners Ltd purchased a new position in Corbus Pharmaceuticals during the 4th quarter worth $54,000. ADAR1 Capital Management LLC purchased a new position in Corbus Pharmaceuticals during the 3rd quarter worth $129,000. Finally, Virtu Financial LLC acquired a new position in Corbus Pharmaceuticals in the fourth quarter valued at $88,000. 64.64% of the stock is owned by institutional investors and hedge funds.

Corbus Pharmaceuticals Price Performance

NASDAQ:CRBP opened at $10.09 on Friday. The firm has a 50 day simple moving average of $8.93 and a 200-day simple moving average of $9.09. The firm has a market cap of $188.39 million, a PE ratio of -1.63 and a beta of 2.59. Corbus Pharmaceuticals Holdings, Inc. has a 1-year low of $7.12 and a 1-year high of $20.56.

Corbus Pharmaceuticals (NASDAQ:CRBP) last announced its earnings results on Thursday, August 6th. The biopharmaceutical company reported ($1.81) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.26) by ($0.55). As a group, sell-side analysts expect that Corbus Pharmaceuticals Holdings, Inc. will post -5.43 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director John Kenneth Jenkins sold 4,800 shares of the stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $7.91, for a total transaction of $37,968.00. Following the transaction, the director directly 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 transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Nishant C. Saxena purchased 2,600 shares of the firm’s stock in a transaction on Tuesday, August 11th. The stock was acquired at an average cost of $9.63 per share, for a total transaction of $25,038.00. Following the completion of the purchase, the insider owned 77,900 shares in the company, valued at $750,177. The trade was a 3.45% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders have acquired 16,100 shares of company stock worth $126,243 and have sold 38,238 shares worth $365,393. 3.50% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on CRBP. Wall Street Zen downgraded shares of Corbus Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 8th. Jefferies Financial Group dropped their price target on Corbus Pharmaceuticals from $36.00 to $33.00 and set a “buy” rating on the stock in a research report on Tuesday, May 12th. Mizuho set a $33.00 price objective on Corbus Pharmaceuticals in a research note on Thursday. Wedbush decreased their price objective on Corbus Pharmaceuticals from $38.00 to $30.00 and set an “outperform” rating for the company in a research report on Wednesday, May 27th. Finally, Oppenheimer lowered their target price on Corbus Pharmaceuticals from $52.00 to $48.00 and set an “outperform” rating on the stock in a research note on Friday, August 7th. Eight analysts have rated the stock with 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 $41.00.

Corbus Pharmaceuticals 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.