SG Americas Securities LLC Purchases Shares of 7,331 Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP)

SG Americas Securities LLC purchased a new stake in shares of Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 7,331 shares of the biopharmaceutical company’s stock, valued at approximately $151,000.

Several other institutional investors have also added to or reduced their stakes in CRBP. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Corbus Pharmaceuticals in the 1st quarter valued at approximately $976,000. Vanguard Group Inc. lifted its stake in shares of Corbus Pharmaceuticals by 143.7% in the 1st quarter. Vanguard Group Inc. now owns 437,264 shares of the biopharmaceutical company’s stock valued at $17,158,000 after purchasing an additional 257,808 shares during the last quarter. Altitude Crest Partners Inc. bought a new stake in shares of Corbus Pharmaceuticals in the 1st quarter valued at approximately $4,069,000. Price T Rowe Associates Inc. MD bought a new stake in shares of Corbus Pharmaceuticals in the 1st quarter valued at approximately $7,554,000. Finally, Janus Henderson Group PLC bought a new stake in shares of Corbus Pharmaceuticals in the 1st quarter valued at approximately $13,363,000. Hedge funds and other institutional investors own 64.64% of the company’s stock.

Insider Activity

In related news, major shareholder Cormorant Asset Management, Lp purchased 350,000 shares of the business’s stock in a transaction dated Friday, September 20th. The shares were acquired at an average cost of $20.01 per share, for a total transaction of $7,003,500.00. Following the acquisition, the insider now owns 2,375,000 shares of the company’s stock, valued at $47,523,750. The trade was a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 4.00% of the company’s stock.

Wall Street Analysts Forecast Growth

CRBP has been the subject of several analyst reports. HC Wainwright reaffirmed a “buy” rating and issued a $80.00 price objective on shares of Corbus Pharmaceuticals in a research note on Monday, September 23rd. Wedbush decreased their price target on Corbus Pharmaceuticals from $85.00 to $51.00 and set an “outperform” rating for the company in a research note on Friday, September 20th. Lifesci Capital raised Corbus Pharmaceuticals to a “strong-buy” rating in a research note on Wednesday, August 21st. B. Riley decreased their price target on Corbus Pharmaceuticals from $85.00 to $40.00 and set a “buy” rating for the company in a research note on Friday, September 20th. Finally, Oppenheimer raised their price target on Corbus Pharmaceuticals from $80.00 to $88.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $65.86.

Corbus Pharmaceuticals Stock Up 0.1 %

Shares of NASDAQ CRBP opened at $16.61 on Friday. The business has a fifty day simple moving average of $37.30 and a two-hundred day simple moving average of $43.52. The firm has a market cap of $177.51 million, a PE ratio of -2.39 and a beta of 2.53. Corbus Pharmaceuticals Holdings, Inc. has a twelve month low of $3.03 and a twelve month high of $61.90.

Corbus Pharmaceuticals (NASDAQ:CRBP) last announced its quarterly earnings results on Tuesday, August 6th. The biopharmaceutical company reported ($0.90) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.19) by $0.29. On average, research analysts expect that Corbus Pharmaceuticals Holdings, Inc. will post -3.8 earnings per share for the current year.

Corbus Pharmaceuticals 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.