Atle Fund Management AB Has $873,000 Position in Corbus Pharmaceuticals Holdings, Inc. $CRBP

Atle Fund Management AB lowered its holdings in Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) by 38.9% during the fourth quarter, Holdings Channel.com reports. The firm owned 107,255 shares of the biopharmaceutical company’s stock after selling 68,327 shares during the period. Atle Fund Management AB’s holdings in Corbus Pharmaceuticals were worth $873,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Aberdeen Group plc boosted its stake in Corbus Pharmaceuticals by 602.2% in the fourth quarter. Aberdeen Group plc now owns 1,321,750 shares of the biopharmaceutical company’s stock worth $10,759,000 after purchasing an additional 1,133,519 shares in the last quarter. Vanguard Group Inc. increased its holdings in Corbus Pharmaceuticals by 2.1% in the third quarter. Vanguard Group Inc. now owns 612,030 shares of the biopharmaceutical company’s stock valued at $7,742,000 after purchasing an additional 12,535 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in Corbus Pharmaceuticals by 120.2% in the fourth quarter. Assenagon Asset Management S.A. now owns 187,956 shares of the biopharmaceutical company’s stock valued at $1,530,000 after purchasing an additional 102,609 shares during the last quarter. HighVista Strategies LLC increased its holdings in Corbus Pharmaceuticals by 56.8% in the third quarter. HighVista Strategies LLC now owns 118,027 shares of the biopharmaceutical company’s stock valued at $1,493,000 after purchasing an additional 42,735 shares during the last quarter. Finally, AQR Capital Management LLC bought a new stake in Corbus Pharmaceuticals in the first quarter valued at about $573,000. Institutional investors and hedge funds own 64.64% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on CRBP. Wall Street Zen upgraded shares of Corbus Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Saturday, April 25th. Oppenheimer cut their price objective on Corbus Pharmaceuticals from $57.00 to $54.00 and set an “outperform” rating for the company in a research report on Wednesday, May 13th. Guggenheim reiterated a “buy” rating and set a $45.00 target price on shares of Corbus Pharmaceuticals in a research note on Wednesday, May 13th. Jefferies Financial Group lowered their price objective on Corbus Pharmaceuticals from $36.00 to $33.00 and set a “buy” rating on the stock in a research note on Tuesday, May 12th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Corbus Pharmaceuticals in a report on Monday, April 20th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $42.33.

Corbus Pharmaceuticals Price Performance

Shares of Corbus Pharmaceuticals stock opened at $9.15 on Wednesday. Corbus Pharmaceuticals Holdings, Inc. has a one year low of $6.72 and a one year high of $20.56. The firm has a market capitalization of $169.55 million, a price-to-earnings ratio of -1.57 and a beta of 2.68. The business has a 50-day simple moving average of $9.96 and a 200 day simple moving average of $9.48.

Corbus Pharmaceuticals (NASDAQ:CRBP) last issued its earnings results on Tuesday, May 12th. The biopharmaceutical company reported ($1.23) EPS for the quarter, beating analysts’ consensus estimates of ($1.26) by $0.03. On average, sell-side analysts expect that Corbus Pharmaceuticals Holdings, Inc. will post -4.83 EPS for the current year.

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.