Aberdeen Group plc Acquires 1,133,519 Shares of Corbus Pharmaceuticals Holdings, Inc. $CRBP

Aberdeen Group plc lifted its stake in shares of Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) by 602.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,321,750 shares of the biopharmaceutical company’s stock after acquiring an additional 1,133,519 shares during the quarter. Aberdeen Group plc owned about 0.08% of Corbus Pharmaceuticals worth $10,759,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. ADAR1 Capital Management LLC bought a new stake in shares of Corbus Pharmaceuticals during the 3rd quarter worth about $129,000. Marshall Wace LLP bought a new stake in shares of Corbus Pharmaceuticals during the 2nd quarter worth about $137,000. Baker Avenue Asset Management LP bought a new stake in shares of Corbus Pharmaceuticals during the 2nd quarter worth about $138,000. Mariner LLC raised its holdings in Corbus Pharmaceuticals by 34.0% in the 3rd quarter. Mariner LLC now owns 20,840 shares of the biopharmaceutical company’s stock worth $264,000 after acquiring an additional 5,289 shares during the period. Finally, Velan Capital Investment Management LP raised its holdings in Corbus Pharmaceuticals by 3.4% in the 3rd quarter. Velan Capital Investment Management LP now owns 61,000 shares of the biopharmaceutical company’s stock worth $772,000 after acquiring an additional 2,000 shares during the period. Institutional investors own 64.64% of the company’s stock.

Insider Buying and Selling at Corbus Pharmaceuticals

In other news, insider Dominic Smethurst sold 3,285 shares of the stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $8.09, for a total value of $26,575.65. Following the completion of the sale, the insider directly owned 95,887 shares of the company’s stock, valued at approximately $775,725.83. This represents a 3.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 4.00% of the company’s stock.

Corbus Pharmaceuticals Trading Down 4.2%

CRBP opened at $9.71 on Wednesday. Corbus Pharmaceuticals Holdings, Inc. has a 1-year low of $5.12 and a 1-year high of $20.56. The stock has a market capitalization of $172.22 million, a price-to-earnings ratio of -1.62 and a beta of 2.78. The business has a 50 day moving average of $8.56 and a 200-day moving average of $10.43.

Corbus Pharmaceuticals (NASDAQ:CRBP) last posted its quarterly earnings data on Monday, March 9th. The biopharmaceutical company reported ($1.25) earnings per share for the quarter, beating the consensus estimate of ($1.78) by $0.53. Equities analysts predict that Corbus Pharmaceuticals Holdings, Inc. will post -4.23 EPS for the current year.

Wall Street Analyst Weigh In

CRBP has been the topic of several recent analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Corbus Pharmaceuticals in a report on Wednesday, January 21st. Oppenheimer lifted their target price on shares of Corbus Pharmaceuticals from $53.00 to $57.00 and gave the stock an “outperform” rating in a report on Tuesday, March 10th. Finally, Jefferies Financial Group upgraded shares of Corbus Pharmaceuticals to a “strong-buy” rating in a report on Wednesday, February 18th. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have given a Sell rating to the company. Based on data from MarketBeat, Corbus Pharmaceuticals has a consensus rating of “Moderate Buy” and an average target price of $43.71.

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.