Corbus Pharmaceuticals Holdings, Inc. $CRBP Shares Acquired by Comerica Bank

Comerica Bank lifted its holdings in shares of Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) by 20,000,000.0% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 200,001 shares of the biopharmaceutical company’s stock after buying an additional 200,000 shares during the period. Comerica Bank’s holdings in Corbus Pharmaceuticals were worth $1,062,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Millennium Management LLC increased its position in shares of Corbus Pharmaceuticals by 215.0% during the fourth quarter. Millennium Management LLC now owns 386,653 shares of the biopharmaceutical company’s stock worth $4,563,000 after purchasing an additional 263,902 shares in the last quarter. Orbimed Advisors LLC increased its position in shares of Corbus Pharmaceuticals by 28.5% during the fourth quarter. Orbimed Advisors LLC now owns 1,172,287 shares of the biopharmaceutical company’s stock worth $13,833,000 after purchasing an additional 259,735 shares in the last quarter. Prosight Management LP increased its position in shares of Corbus Pharmaceuticals by 107.7% during the fourth quarter. Prosight Management LP now owns 270,000 shares of the biopharmaceutical company’s stock worth $3,186,000 after purchasing an additional 140,000 shares in the last quarter. Two Sigma Investments LP increased its position in shares of Corbus Pharmaceuticals by 212.3% during the fourth quarter. Two Sigma Investments LP now owns 134,175 shares of the biopharmaceutical company’s stock worth $1,583,000 after purchasing an additional 91,205 shares in the last quarter. Finally, AlphaQuest LLC purchased a new stake in shares of Corbus Pharmaceuticals during the first quarter worth approximately $299,000. 64.64% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently commented on CRBP shares. Lifesci Capital upgraded Corbus Pharmaceuticals to a “strong-buy” rating in a research report on Saturday, July 12th. Oppenheimer dropped their price target on Corbus Pharmaceuticals from $56.00 to $53.00 and set an “outperform” rating for the company in a research report on Wednesday, August 6th. Finally, B. Riley upgraded Corbus Pharmaceuticals to a “strong-buy” rating and set a $28.00 price target for the company in a research report on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating and nine have assigned a Buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $49.00.

Corbus Pharmaceuticals Stock Down 1.6%

Shares of NASDAQ:CRBP opened at $9.86 on Friday. The business has a fifty day moving average of $8.93 and a two-hundred day moving average of $7.71. The stock has a market cap of $120.88 million, a P/E ratio of -2.07 and a beta of 3.08. Corbus Pharmaceuticals Holdings, Inc. has a 52-week low of $4.64 and a 52-week high of $56.93.

Corbus Pharmaceuticals (NASDAQ:CRBP) last issued its earnings results on Tuesday, August 5th. The biopharmaceutical company reported ($1.44) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.55) by $0.11. On average, equities analysts anticipate that Corbus Pharmaceuticals Holdings, Inc. will post -4.23 earnings per share for the current year.

Corbus Pharmaceuticals 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.