Nuveen LLC Makes New Investment in Corbus Pharmaceuticals Holdings, Inc. $CRBP

Nuveen LLC purchased a new position in Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 45,689 shares of the biopharmaceutical company’s stock, valued at approximately $243,000. Nuveen LLC owned about 0.37% of Corbus Pharmaceuticals as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Orbimed Advisors LLC grew its holdings in Corbus Pharmaceuticals by 28.5% in the 4th quarter. Orbimed Advisors LLC now owns 1,172,287 shares of the biopharmaceutical company’s stock worth $13,833,000 after acquiring an additional 259,735 shares during the last quarter. Millennium Management LLC grew its holdings in Corbus Pharmaceuticals by 215.0% in the 4th quarter. Millennium Management LLC now owns 386,653 shares of the biopharmaceutical company’s stock worth $4,563,000 after acquiring an additional 263,902 shares during the last quarter. Prosight Management LP grew its holdings in Corbus Pharmaceuticals by 107.7% in the 4th quarter. Prosight Management LP now owns 270,000 shares of the biopharmaceutical company’s stock worth $3,186,000 after acquiring an additional 140,000 shares during the last quarter. Two Sigma Investments LP grew its holdings in Corbus Pharmaceuticals by 212.3% in the 4th quarter. Two Sigma Investments LP now owns 134,175 shares of the biopharmaceutical company’s stock worth $1,583,000 after acquiring an additional 91,205 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in shares of Corbus Pharmaceuticals by 12.4% during the 4th quarter. Northern Trust Corp now owns 103,264 shares of the biopharmaceutical company’s stock valued at $1,219,000 after purchasing an additional 11,400 shares in the last quarter. Institutional investors own 64.64% of the company’s stock.

Corbus Pharmaceuticals Price Performance

Shares of NASDAQ CRBP opened at $9.86 on Friday. Corbus Pharmaceuticals Holdings, Inc. has a 1 year low of $4.64 and a 1 year high of $56.93. The stock has a market cap of $120.88 million, a P/E ratio of -2.07 and a beta of 3.08. The firm has a 50-day moving average of $8.93 and a 200 day moving average of $7.71.

Corbus Pharmaceuticals (NASDAQ:CRBP) last issued its quarterly earnings results on Tuesday, August 5th. The biopharmaceutical company reported ($1.44) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.55) by $0.11. Research analysts expect that Corbus Pharmaceuticals Holdings, Inc. will post -4.23 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on CRBP. B. Riley raised shares of Corbus Pharmaceuticals to a “strong-buy” rating and set a $28.00 target price on the stock in a research note on Wednesday, July 30th. Oppenheimer cut their target price on shares of Corbus Pharmaceuticals from $56.00 to $53.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 6th. Finally, Lifesci Capital raised shares of Corbus Pharmaceuticals to a “strong-buy” rating in a research note on Saturday, July 12th. One investment analyst has rated the stock with a Strong Buy rating and nine have given a Buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $49.00.

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.