3,100 Shares in Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) Bought by Vestcor Inc

Vestcor Inc purchased a new stake in shares of Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) during the 3rd quarter, HoldingsChannel reports. The firm purchased 3,100 shares of the biopharmaceutical company’s stock, valued at approximately $64,000.

A number of other hedge funds have also modified their holdings of CRBP. MetLife Investment Management LLC purchased a new stake in shares of Corbus Pharmaceuticals in the 3rd quarter valued at $123,000. SG Americas Securities LLC acquired a new stake in Corbus Pharmaceuticals during the 3rd quarter worth about $151,000. FMR LLC lifted its holdings in shares of Corbus Pharmaceuticals by 33.0% in the 3rd quarter. FMR LLC now owns 10,028 shares of the biopharmaceutical company’s stock valued at $207,000 after buying an additional 2,486 shares during the period. Y Intercept Hong Kong Ltd purchased a new stake in shares of Corbus Pharmaceuticals in the third quarter worth about $379,000. Finally, The Manufacturers Life Insurance Company grew its holdings in Corbus Pharmaceuticals by 7.6% during the third quarter. The Manufacturers Life Insurance Company now owns 22,731 shares of the biopharmaceutical company’s stock worth $469,000 after acquiring an additional 1,600 shares during the period. 64.64% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Corbus Pharmaceuticals

In other Corbus Pharmaceuticals news, major shareholder Cormorant Asset Management, Lp bought 350,000 shares of the company’s stock in a transaction dated Friday, September 20th. The stock was acquired at an average price of $20.01 per share, with a total value of $7,003,500.00. Following the completion of the acquisition, the insider now directly owns 2,375,000 shares of the company’s stock, valued at $47,523,750. This represents a 17.28 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 4.00% of the company’s stock.

Analyst Ratings Changes

CRBP has been the topic of several recent research reports. Piper Sandler began coverage on Corbus Pharmaceuticals in a research report on Monday, December 2nd. They issued an “overweight” rating and a $35.00 price objective on the stock. Royal Bank of Canada restated an “outperform” rating and set a $82.00 price target on shares of Corbus Pharmaceuticals in a research report on Friday, September 20th. Wedbush reiterated an “outperform” rating and issued a $51.00 price objective on shares of Corbus Pharmaceuticals in a research report on Monday, November 4th. Mizuho restated an “outperform” rating and set a $74.00 target price on shares of Corbus Pharmaceuticals in a research report on Friday, September 20th. Finally, B. Riley reduced their price target on Corbus Pharmaceuticals from $85.00 to $40.00 and set a “buy” rating for the company in a report on Friday, September 20th. One investment analyst has rated the stock with a sell rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $62.00.

Corbus Pharmaceuticals Stock Performance

Shares of Corbus Pharmaceuticals stock opened at $15.08 on Friday. Corbus Pharmaceuticals Holdings, Inc. has a twelve month low of $5.09 and a twelve month high of $61.90. The firm has a market capitalization of $183.67 million, a PE ratio of -3.23 and a beta of 2.57. The firm’s 50-day moving average price is $17.45 and its 200 day moving average price is $37.85.

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.