Assenagon Asset Management S.A. Has $1.53 Million Stock Position 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 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 187,956 shares of the biopharmaceutical company’s stock after acquiring an additional 102,609 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Corbus Pharmaceuticals were worth $1,530,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. ADAR1 Capital Management LLC bought a new stake in Corbus Pharmaceuticals during the 3rd quarter worth about $129,000. Marshall Wace LLP acquired a new position in Corbus Pharmaceuticals during the 2nd quarter valued at about $137,000. Baker Avenue Asset Management LP bought a new position in shares of Corbus Pharmaceuticals in the 2nd quarter valued at about $138,000. Mariner LLC boosted its stake in shares of Corbus Pharmaceuticals by 34.0% in the 3rd quarter. Mariner LLC now owns 20,840 shares of the biopharmaceutical company’s stock valued at $264,000 after purchasing an additional 5,289 shares during the last quarter. Finally, Velan Capital Investment Management LP grew its position in shares of Corbus Pharmaceuticals by 3.4% during the 3rd quarter. Velan Capital Investment Management LP now owns 61,000 shares of the biopharmaceutical company’s stock worth $772,000 after buying an additional 2,000 shares during the period. 64.64% of the stock is currently owned by institutional investors and hedge funds.

Corbus Pharmaceuticals Trading Down 1.3%

Shares of CRBP opened at $8.60 on Tuesday. Corbus Pharmaceuticals Holdings, Inc. has a 1 year low of $4.64 and a 1 year high of $20.56. The stock has a market cap of $152.56 million, a P/E ratio of -1.44 and a beta of 2.84. The stock’s 50-day moving average price is $8.44 and its two-hundred day moving average price is $10.46.

Corbus Pharmaceuticals (NASDAQ:CRBP) last posted its earnings results on Monday, March 9th. The biopharmaceutical company reported ($1.25) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.78) by $0.53. As a group, equities analysts forecast that Corbus Pharmaceuticals Holdings, Inc. will post -4.23 EPS for the current year.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In related news, insider Dominic Smethurst sold 3,285 shares of the business’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 transaction of $26,575.65. Following the completion of 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 4.00% of the stock is owned by insiders.

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.