Assenagon Asset Management S.A. Has $800,000 Stake in Corbus Pharmaceuticals Holdings, Inc. $CRBP

Assenagon Asset Management S.A. trimmed its stake in Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) by 54.6% during the first quarter, HoldingsChannel.com reports. The fund owned 85,246 shares of the biopharmaceutical company’s stock after selling 102,710 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Corbus Pharmaceuticals were worth $800,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. Persistent Asset Partners Ltd bought a new stake in Corbus Pharmaceuticals during the fourth quarter worth about $54,000. ADAR1 Capital Management LLC bought a new position in shares of Corbus Pharmaceuticals in the third quarter valued at approximately $129,000. Virtu Financial LLC bought a new position in shares of Corbus Pharmaceuticals in the fourth quarter valued at approximately $88,000. Barclays PLC boosted its holdings in shares of Corbus Pharmaceuticals by 280.0% in the 4th quarter. Barclays PLC now owns 14,758 shares of the biopharmaceutical company’s stock worth $120,000 after acquiring an additional 10,874 shares in the last quarter. Finally, Hudson Bay Capital Management LP acquired a new stake in Corbus Pharmaceuticals during the 4th quarter valued at $139,000. 64.64% of the stock is currently owned by institutional investors and hedge funds.

Corbus Pharmaceuticals Stock Up 2.0%

Shares of Corbus Pharmaceuticals stock opened at $9.25 on Friday. The business has a fifty day simple moving average of $9.25 and a 200 day simple moving average of $8.88. The stock has a market cap of $171.40 million, a PE ratio of -1.59 and a beta of 2.55. 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, beating the consensus estimate of ($1.26) by $0.03. Analysts expect that Corbus Pharmaceuticals Holdings, Inc. will post -4.87 EPS for the current fiscal year.

Insider Activity at Corbus Pharmaceuticals

In other news, insider Nishant C. Saxena purchased 9,000 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The stock was bought at an average price of $7.58 per share, with a total value of $68,220.00. Following the acquisition, the insider directly owned 75,300 shares of the company’s stock, valued at approximately $570,774. This represents a 13.57% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John Kenneth Jenkins sold 4,800 shares of Corbus Pharmaceuticals stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $7.91, for a total value of $37,968.00. Following the transaction, 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 9,238 shares of company stock valued at $73,073 in the last ninety days. Insiders own 3.50% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on CRBP shares. Guggenheim reissued a “buy” rating on shares of Corbus Pharmaceuticals in a research note on Tuesday, May 26th. Jefferies Financial Group lowered their target price on Corbus Pharmaceuticals from $36.00 to $33.00 and set a “buy” rating for the company in a research note on Tuesday, May 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of Corbus Pharmaceuticals in a report on Monday, April 20th. Oppenheimer decreased their price target on shares of Corbus Pharmaceuticals from $54.00 to $52.00 and set an “outperform” rating on the stock in a research note on Wednesday, June 17th. Finally, Wall Street Zen raised Corbus Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 20th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Corbus Pharmaceuticals has an average rating of “Moderate Buy” and a consensus target price 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.