Assenagon Asset Management S.A. Has $800,000 Position in Corbus Pharmaceuticals Holdings, Inc. $CRBP

Assenagon Asset Management S.A. lowered its holdings in Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) by 54.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 85,246 shares of the biopharmaceutical company’s stock after selling 102,710 shares during the period. Assenagon Asset Management S.A. owned approximately 0.48% of Corbus Pharmaceuticals worth $800,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in CRBP. Seven Fleet Capital Management LP purchased a new position in Corbus Pharmaceuticals during the fourth quarter valued at approximately $462,000. Virtu Financial LLC purchased a new stake in Corbus Pharmaceuticals in the 4th quarter worth approximately $88,000. Quadrature Capital Ltd acquired a new stake in shares of Corbus Pharmaceuticals during the 4th quarter valued at $243,000. Orbimed Advisors LLC boosted its stake in shares of Corbus Pharmaceuticals by 36.3% during the 4th quarter. Orbimed Advisors LLC now owns 1,597,287 shares of the biopharmaceutical company’s stock valued at $13,002,000 after buying an additional 425,000 shares during the period. Finally, Engineers Gate Manager LP purchased a new position in shares of Corbus Pharmaceuticals during the 4th quarter valued at $140,000. Institutional investors and hedge funds own 64.64% of the company’s stock.

Insider Activity at Corbus Pharmaceuticals

In other news, insider Nishant C. Saxena acquired 9,000 shares of the stock in a transaction dated Wednesday, June 3rd. The shares were acquired at an average cost of $7.58 per share, for a total transaction of $68,220.00. Following the completion of the transaction, the insider owned 75,300 shares in the company, valued at approximately $570,774. This trade represents a 13.57% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director John Kenneth Jenkins sold 4,800 shares of the company’s stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $7.91, for a total value of $37,968.00. Following the completion of the transaction, the director owned 3,833 shares of the company’s stock, valued at $30,319.03. The trade was a 55.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 9,238 shares of company stock valued at $73,073. Insiders own 3.50% of the company’s stock.

Analyst Upgrades and Downgrades

CRBP has been the topic of several research reports. Wall Street Zen raised Corbus Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 20th. Wedbush cut their target price on Corbus Pharmaceuticals from $38.00 to $30.00 and set an “outperform” rating on the stock in a report on Wednesday, May 27th. Weiss Ratings reissued a “sell (d-)” rating on shares of Corbus Pharmaceuticals in a research note on Monday, April 20th. HC Wainwright restated a “buy” rating and issued a $40.00 target price on shares of Corbus Pharmaceuticals in a report on Tuesday, May 26th. Finally, Mizuho reduced their target price on Corbus Pharmaceuticals from $44.00 to $34.00 and set an “outperform” rating for the company in a report on Tuesday, June 23rd. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $40.67.

Corbus Pharmaceuticals Trading Up 2.0%

Shares of Corbus Pharmaceuticals stock opened at $9.25 on Friday. Corbus Pharmaceuticals Holdings, Inc. has a 1 year low of $7.12 and a 1 year high of $20.56. The company’s fifty day simple moving average is $9.25 and its 200-day simple moving average is $8.88. The company has a market cap of $171.40 million, a price-to-earnings ratio of -1.59 and a beta of 2.55.

Corbus Pharmaceuticals (NASDAQ:CRBP) last issued its quarterly earnings results on Tuesday, May 12th. The biopharmaceutical company reported ($1.23) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.26) by $0.03. As a group, research analysts forecast that Corbus Pharmaceuticals Holdings, Inc. will post -4.87 earnings per share for the current fiscal year.

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.