State Street Corp Raises Position in Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP)

State Street Corp grew its holdings in Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) by 34.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 595,576 shares of the biopharmaceutical company’s stock after acquiring an additional 153,243 shares during the quarter. State Street Corp’s holdings in Corbus Pharmaceuticals were worth $12,287,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of CRBP. MetLife Investment Management LLC purchased a new stake in shares of Corbus Pharmaceuticals during the third quarter valued at $123,000. SG Americas Securities LLC purchased a new position in shares of Corbus Pharmaceuticals in the third quarter worth about $151,000. FMR LLC boosted its position in Corbus Pharmaceuticals by 33.0% in the third quarter. FMR LLC now owns 10,028 shares of the biopharmaceutical company’s stock valued at $207,000 after buying an additional 2,486 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in Corbus Pharmaceuticals by 7.6% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 22,731 shares of the biopharmaceutical company’s stock worth $469,000 after buying an additional 1,600 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in shares of Corbus Pharmaceuticals by 29.9% in the 3rd quarter. Victory Capital Management Inc. now owns 24,760 shares of the biopharmaceutical company’s stock valued at $511,000 after acquiring an additional 5,700 shares during the last quarter. 64.64% of the stock is currently owned by institutional investors and hedge funds.

Corbus Pharmaceuticals Stock Up 0.1 %

Corbus Pharmaceuticals stock opened at $13.17 on Thursday. Corbus Pharmaceuticals Holdings, Inc. has a 52-week low of $5.30 and a 52-week high of $61.90. The firm has a market capitalization of $160.40 million, a price-to-earnings ratio of -2.81 and a beta of 2.58. The company has a fifty day simple moving average of $16.62 and a 200-day simple moving average of $36.01.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $82.00 price target on shares of Corbus Pharmaceuticals in a report on Friday, September 20th. Wedbush reaffirmed an “outperform” rating and set a $51.00 price objective on shares of Corbus Pharmaceuticals in a research note on Monday, November 4th. Mizuho reissued an “outperform” rating and set a $74.00 target price on shares of Corbus Pharmaceuticals in a research note on Friday, September 20th. Piper Sandler assumed coverage on Corbus Pharmaceuticals in a research note on Monday, December 2nd. They issued an “overweight” rating and a $35.00 price target for the company. Finally, HC Wainwright reissued a “buy” rating and issued a $80.00 price objective on shares of Corbus Pharmaceuticals in a report on Monday, September 23rd. One analyst has rated the stock with a sell rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Corbus Pharmaceuticals presently has an average rating of “Moderate Buy” and an average 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.