Corbus Pharmaceuticals Holdings, Inc. $CRBP Shares Bought by Aberdeen Group plc

Aberdeen Group plc grew its position in Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) by 160.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 188,231 shares of the biopharmaceutical company’s stock after acquiring an additional 116,005 shares during the quarter. Aberdeen Group plc owned approximately 1.54% of Corbus Pharmaceuticals worth $2,381,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in CRBP. AQR Capital Management LLC acquired a new position in Corbus Pharmaceuticals during the 1st quarter valued at about $573,000. Assenagon Asset Management S.A. bought a new stake in shares of Corbus Pharmaceuticals during the third quarter valued at approximately $1,080,000. Bank of America Corp DE boosted its position in shares of Corbus Pharmaceuticals by 333.6% during the second quarter. Bank of America Corp DE now owns 71,893 shares of the biopharmaceutical company’s stock worth $496,000 after buying an additional 55,314 shares during the period. Y Intercept Hong Kong Ltd acquired a new position in shares of Corbus Pharmaceuticals during the second quarter worth approximately $141,000. Finally, Baker Avenue Asset Management LP bought a new position in Corbus Pharmaceuticals in the 2nd quarter worth approximately $138,000. 64.64% of the stock is currently owned by institutional investors.

Corbus Pharmaceuticals Stock Down 3.4%

Shares of CRBP stock opened at $7.42 on Friday. The stock has a 50-day simple moving average of $8.20 and a 200 day simple moving average of $10.60. The stock has a market capitalization of $130.22 million, a P/E ratio of -1.35 and a beta of 2.86. Corbus Pharmaceuticals Holdings, Inc. has a fifty-two week low of $4.64 and a fifty-two week high of $20.56.

Analysts Set New Price Targets

Several analysts have weighed in on CRBP shares. Mizuho set a $39.00 target price on Corbus Pharmaceuticals in a research note on Wednesday, October 29th. Jefferies Financial Group raised Corbus Pharmaceuticals to a “strong-buy” rating in a report on Wednesday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Corbus Pharmaceuticals in a report on Wednesday, January 21st. Finally, Royal Bank Of Canada decreased their target price on shares of Corbus Pharmaceuticals from $55.00 to $53.00 and set an “outperform” rating for the company in a research report on Thursday, November 13th. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $44.38.

Insider Buying and Selling

In other Corbus Pharmaceuticals news, insider Dominic Smethurst sold 3,285 shares of Corbus Pharmaceuticals stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $8.09, for a total value of $26,575.65. Following the transaction, the insider owned 95,887 shares in the company, valued at approximately $775,725.83. The trade was a 3.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Cormorant Asset Management, Lp sold 30,029 shares of the company’s stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $11.46, for a total value of $344,132.34. Following the completion of the transaction, the insider directly owned 2,344,971 shares in the company, valued at $26,873,367.66. This represents a 1.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 35,729 shares of company stock worth $390,245 over the last quarter. Insiders own 3.60% of the company’s stock.

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.