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

Orbimed Advisors LLC lifted its stake in Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) by 8.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,737,287 shares of the biopharmaceutical company’s stock after purchasing an additional 140,000 shares during the quarter. Orbimed Advisors LLC owned 0.09% of Corbus Pharmaceuticals worth $16,313,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Persistent Asset Partners Ltd bought a new position in Corbus Pharmaceuticals in the 4th quarter worth about $54,000. ADAR1 Capital Management LLC bought a new stake in Corbus Pharmaceuticals during the 3rd quarter valued at about $129,000. Virtu Financial LLC purchased a new position in Corbus Pharmaceuticals in the fourth quarter worth about $88,000. Barclays PLC raised 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 worth $120,000 after buying an additional 10,874 shares during the last quarter. Finally, Hudson Bay Capital Management LP bought a new position in shares of Corbus Pharmaceuticals in the fourth quarter worth approximately $139,000. Institutional investors own 64.64% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CRBP. Wedbush cut their price target on shares of Corbus Pharmaceuticals from $38.00 to $30.00 and set an “outperform” rating on the stock in a report on Wednesday, May 27th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Corbus Pharmaceuticals in a research report on Friday, July 17th. Wall Street Zen raised Corbus Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 20th. Guggenheim reiterated a “buy” rating on shares of Corbus Pharmaceuticals in a research note on Tuesday, May 26th. Finally, HC Wainwright reissued a “buy” rating and issued a $40.00 target price on shares of Corbus Pharmaceuticals in a report on Tuesday, May 26th. Nine equities research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $40.67.

Corbus Pharmaceuticals Stock Performance

Shares of NASDAQ:CRBP opened at $9.17 on Monday. The stock’s 50-day simple moving average is $8.75 and its two-hundred day simple moving average is $8.98. The stock has a market capitalization of $169.92 million, a price-to-earnings ratio of -1.58 and a beta of 2.55. Corbus Pharmaceuticals Holdings, Inc. has a 52-week low of $7.12 and a 52-week high of $20.56.

Corbus Pharmaceuticals (NASDAQ:CRBP) last released its quarterly earnings results on Tuesday, May 12th. The biopharmaceutical company reported ($1.23) EPS for the quarter, beating the consensus estimate of ($1.26) by $0.03. As a group, equities analysts forecast that Corbus Pharmaceuticals Holdings, Inc. will post -4.87 earnings per share for the current fiscal year.

Insider Activity at Corbus Pharmaceuticals

In other Corbus Pharmaceuticals news, Director John Kenneth Jenkins sold 4,800 shares of the stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $7.91, for a total value of $37,968.00. Following the transaction, the director directly owned 3,833 shares in the company, valued at approximately $30,319.03. This trade represents a 55.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Nishant C. Saxena purchased 9,000 shares of the company’s stock in a transaction dated Wednesday, June 3rd. The shares were acquired at an average price of $7.58 per share, for a total transaction of $68,220.00. Following the purchase, the insider directly owned 75,300 shares in the company, valued at approximately $570,774. The trade was a 13.57% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have sold 9,238 shares of company stock valued at $73,073 over the last 90 days. 3.50% of the stock is currently owned by company insiders.

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.