Avanza Fonder AB Invests $84,000 in Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP)

Avanza Fonder AB purchased a new stake in Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 7,150 shares of the biopharmaceutical company’s stock, valued at approximately $84,000. Avanza Fonder AB owned approximately 0.06% of Corbus Pharmaceuticals at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of CRBP. Vestcor Inc acquired a new stake in shares of Corbus Pharmaceuticals during the 3rd quarter worth approximately $64,000. JPMorgan Chase & Co. boosted its stake in Corbus Pharmaceuticals by 27.0% in the third quarter. JPMorgan Chase & Co. now owns 5,507 shares of the biopharmaceutical company’s stock valued at $114,000 after acquiring an additional 1,172 shares during the last quarter. MetLife Investment Management LLC bought a new position in Corbus Pharmaceuticals in the third quarter valued at approximately $123,000. SG Americas Securities LLC acquired a new stake in Corbus Pharmaceuticals during the 3rd quarter worth $151,000. Finally, FMR LLC raised its position in shares of Corbus Pharmaceuticals by 33.0% during the 3rd quarter. FMR LLC now owns 10,028 shares of the biopharmaceutical company’s stock valued at $207,000 after acquiring an additional 2,486 shares during the last quarter. Institutional investors own 64.64% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on CRBP shares. Piper Sandler assumed coverage on Corbus Pharmaceuticals in a research note on Monday, December 2nd. They issued an “overweight” rating and a $35.00 target price on the stock. StockNews.com upgraded shares of Corbus Pharmaceuticals to a “sell” rating in a research report on Monday, January 13th. Wedbush restated an “outperform” rating and set a $51.00 price objective on shares of Corbus Pharmaceuticals in a report on Monday, November 4th. Finally, HC Wainwright reiterated a “buy” rating and issued a $80.00 target price on shares of Corbus Pharmaceuticals in a report on Monday, September 23rd. One equities research analyst has rated the stock with a sell rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $62.00.

Corbus Pharmaceuticals Trading Down 9.1 %

Shares of CRBP opened at $11.92 on Tuesday. The company has a market capitalization of $145.19 million, a PE ratio of -2.54 and a beta of 2.63. The stock’s 50-day moving average price is $14.60 and its two-hundred day moving average price is $31.44. Corbus Pharmaceuticals Holdings, Inc. has a 12 month low of $6.20 and a 12 month high of $61.90.

Corbus Pharmaceuticals Company 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.