Assenagon Asset Management S.A. Takes Position in Corbus Pharmaceuticals Holdings, Inc. $CRBP

Assenagon Asset Management S.A. purchased a new position in Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 85,347 shares of the biopharmaceutical company’s stock, valued at approximately $1,080,000. Assenagon Asset Management S.A. owned approximately 0.70% of Corbus Pharmaceuticals at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Comerica Bank raised its holdings in Corbus Pharmaceuticals by 20,000,000.0% in the first quarter. Comerica Bank now owns 200,001 shares of the biopharmaceutical company’s stock worth $1,062,000 after buying an additional 200,000 shares during the last quarter. Exome Asset Management LLC purchased a new stake in Corbus Pharmaceuticals during the first quarter valued at $1,538,000. Aberdeen Group plc increased its position in shares of Corbus Pharmaceuticals by 168.6% during the 2nd quarter. Aberdeen Group plc now owns 72,226 shares of the biopharmaceutical company’s stock valued at $498,000 after purchasing an additional 45,332 shares during the last quarter. Acadian Asset Management LLC purchased a new position in shares of Corbus Pharmaceuticals during the 1st quarter worth $1,007,000. Finally, Atle Fund Management AB lifted its position in Corbus Pharmaceuticals by 78.6% during the second quarter. Atle Fund Management AB now owns 175,582 shares of the biopharmaceutical company’s stock valued at $1,212,000 after purchasing an additional 77,278 shares in the last quarter. Institutional investors own 64.64% of the company’s stock.

Analysts Set New Price Targets

CRBP has been the topic of a number of recent analyst reports. Mizuho set a $39.00 price target on Corbus Pharmaceuticals in a report on Wednesday, October 29th. Benchmark reiterated a “reduce” rating on shares of Corbus Pharmaceuticals in a research report on Monday, October 20th. Weiss Ratings reissued a “sell (d-)” rating on shares of Corbus Pharmaceuticals in a research note on Wednesday, October 8th. Royal Bank Of Canada decreased their price target on Corbus Pharmaceuticals from $55.00 to $53.00 and set an “outperform” rating for the company in a research note on Thursday, November 13th. Finally, HC Wainwright restated a “buy” rating and issued a $40.00 target price on shares of Corbus Pharmaceuticals in a research note on Monday, October 20th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have given a Sell rating to the company. According to data from MarketBeat, Corbus Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus target price of $44.38.

Insider Buying and Selling at Corbus Pharmaceuticals

In related news, CFO Sean F. Moran sold 12,981 shares of the firm’s stock in a transaction dated Friday, October 24th. The stock was sold at an average price of $17.02, for a total transaction of $220,936.62. Following the completion of the transaction, the chief financial officer directly owned 73,313 shares in the company, valued at $1,247,787.26. This trade represents a 15.04% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Yuval Cohen sold 18,660 shares of the company’s stock in a transaction on Friday, October 24th. The stock was sold at an average price of $17.01, for a total value of $317,406.60. Following the sale, the chief executive officer directly owned 138,187 shares in the company, valued at $2,350,560.87. This represents a 11.90% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 71,703 shares of company stock worth $1,058,003 in the last ninety days. 3.60% of the stock is owned by insiders.

Corbus Pharmaceuticals Stock Performance

NASDAQ CRBP opened at $8.40 on Thursday. Corbus Pharmaceuticals Holdings, Inc. has a fifty-two week low of $4.64 and a fifty-two week high of $20.56. The firm has a market capitalization of $147.42 million, a P/E ratio of -1.52 and a beta of 2.71. The stock has a 50-day simple moving average of $12.08 and a two-hundred day simple moving average of $10.69.

Corbus Pharmaceuticals (NASDAQ:CRBP) last posted its earnings results on Wednesday, November 12th. The biopharmaceutical company reported ($1.90) EPS for the quarter, missing analysts’ consensus estimates of ($1.80) by ($0.10). As a group, analysts forecast that Corbus Pharmaceuticals Holdings, Inc. will post -4.23 earnings per share for the current year.

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.