Geode Capital Management LLC Acquires 18,702 Shares of Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP)

Geode Capital Management LLC increased its holdings in shares of Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) by 8.1% during the 3rd quarter, HoldingsChannel reports. The firm owned 249,759 shares of the biopharmaceutical company’s stock after purchasing an additional 18,702 shares during the period. Geode Capital Management LLC’s holdings in Corbus Pharmaceuticals were worth $5,154,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Vestcor Inc acquired a new position in shares of Corbus Pharmaceuticals during the third quarter worth about $64,000. MetLife Investment Management LLC acquired a new stake in Corbus Pharmaceuticals in the third quarter valued at $123,000. SG Americas Securities LLC bought a new position in shares of Corbus Pharmaceuticals in the 3rd quarter valued at about $151,000. FMR LLC increased its stake 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 worth $207,000 after purchasing an additional 2,486 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of Corbus Pharmaceuticals in the 3rd quarter valued at about $379,000. Institutional investors and hedge funds own 64.64% of the company’s stock.

Corbus Pharmaceuticals Trading Up 8.3 %

Shares of CRBP stock opened at $13.04 on Friday. The business’s 50-day moving average price is $15.80 and its 200-day moving average price is $34.17. The firm has a market capitalization of $158.81 million, a price-to-earnings ratio of -2.78 and a beta of 2.63. Corbus Pharmaceuticals Holdings, Inc. has a 12 month low of $5.67 and a 12 month high of $61.90.

Analysts Set New Price Targets

CRBP has been the subject of a number of research analyst reports. Wedbush reiterated an “outperform” rating and set a $51.00 price target on shares of Corbus Pharmaceuticals in a report on Monday, November 4th. Piper Sandler started coverage on Corbus Pharmaceuticals in a report on Monday, December 2nd. They set an “overweight” rating and a $35.00 target price on the stock. B. Riley cut 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. HC Wainwright reaffirmed a “buy” rating and set a $80.00 price objective on shares of Corbus Pharmaceuticals in a research report on Monday, September 23rd. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $82.00 price objective on shares of Corbus Pharmaceuticals in a research report on Friday, September 20th. One investment analyst has rated the stock with a sell rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Corbus Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus target price of $62.00.

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.