Assenagon Asset Management S.A. Has $1.53 Million Holdings in Corbus Pharmaceuticals Holdings, Inc. $CRBP

Assenagon Asset Management S.A. increased its position in shares of Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) by 120.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 187,956 shares of the biopharmaceutical company’s stock after purchasing an additional 102,609 shares during the period. Assenagon Asset Management S.A. owned about 1.07% of Corbus Pharmaceuticals worth $1,530,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. AQR Capital Management LLC bought a new position in Corbus Pharmaceuticals during the first quarter worth about $573,000. Marshall Wace LLP acquired a new stake in Corbus Pharmaceuticals in the 2nd quarter valued at $137,000. Baker Avenue Asset Management LP bought a new stake in Corbus Pharmaceuticals in the second quarter valued at $138,000. Bank of America Corp DE grew its position in Corbus Pharmaceuticals by 333.6% in the second quarter. Bank of America Corp DE now owns 71,893 shares of the biopharmaceutical company’s stock valued at $496,000 after acquiring an additional 55,314 shares during the period. Finally, Aberdeen Group plc raised its stake in Corbus Pharmaceuticals by 160.6% during the third quarter. Aberdeen Group plc now owns 188,231 shares of the biopharmaceutical company’s stock worth $2,381,000 after acquiring an additional 116,005 shares in the last quarter. 64.64% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on CRBP shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Corbus Pharmaceuticals in a report on Wednesday, January 21st. Oppenheimer boosted their price target on shares of Corbus Pharmaceuticals from $53.00 to $57.00 and gave the company an “outperform” rating in a research report on Tuesday, March 10th. Finally, Jefferies Financial Group raised shares of Corbus Pharmaceuticals to a “strong-buy” rating in a research note on Wednesday, February 18th. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $43.71.

Corbus Pharmaceuticals Stock Performance

Shares of NASDAQ:CRBP opened at $8.60 on Tuesday. The business has a fifty day moving average of $8.44 and a 200-day moving average of $10.46. Corbus Pharmaceuticals Holdings, Inc. has a twelve month low of $4.64 and a twelve month high of $20.56. The firm has a market cap of $152.56 million, a PE ratio of -1.44 and a beta of 2.84.

Corbus Pharmaceuticals (NASDAQ:CRBP) last issued its quarterly earnings data on Monday, March 9th. The biopharmaceutical company reported ($1.25) EPS for the quarter, topping analysts’ consensus estimates of ($1.78) by $0.53. On average, analysts anticipate that Corbus Pharmaceuticals Holdings, Inc. will post -4.23 EPS for the current fiscal year.

Insider Activity at Corbus Pharmaceuticals

In related news, insider Dominic Smethurst sold 3,285 shares of the firm’s 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 completion of the sale, the insider owned 95,887 shares of the company’s stock, valued at $775,725.83. This trade represents a 3.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 4.00% of the stock is owned by company insiders.

About Corbus Pharmaceuticals

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.