P.A.W. Capital Corp purchased a new position in Corbus Pharmaceuticals Holdings Inc (NASDAQ:CRBP) during the 1st quarter, HoldingsChannel.com reports. The firm purchased 30,000 shares of the biopharmaceutical company’s stock, valued at approximately $209,000.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Geode Capital Management LLC grew its position in Corbus Pharmaceuticals by 5.6% in the 4th quarter. Geode Capital Management LLC now owns 542,722 shares of the biopharmaceutical company’s stock worth $3,169,000 after purchasing an additional 28,582 shares during the last quarter. Millennium Management LLC grew its position in Corbus Pharmaceuticals by 331.4% in the 4th quarter. Millennium Management LLC now owns 130,245 shares of the biopharmaceutical company’s stock worth $761,000 after purchasing an additional 100,051 shares during the last quarter. Metropolitan Life Insurance Co. NY grew its position in Corbus Pharmaceuticals by 357.7% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 16,973 shares of the biopharmaceutical company’s stock worth $99,000 after purchasing an additional 13,265 shares during the last quarter. D. E. Shaw & Co. Inc. acquired a new stake in Corbus Pharmaceuticals in the 4th quarter worth $3,125,000. Finally, Bank of America Corp DE grew its position in Corbus Pharmaceuticals by 6.7% in the 4th quarter. Bank of America Corp DE now owns 37,304 shares of the biopharmaceutical company’s stock worth $218,000 after purchasing an additional 2,335 shares during the last quarter. Institutional investors own 40.21% of the company’s stock.
Several analysts have issued reports on CRBP shares. HC Wainwright started coverage on shares of Corbus Pharmaceuticals in a research report on Wednesday, December 26th. They issued a “buy” rating and a $24.00 price target on the stock. BidaskClub upgraded shares of Corbus Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Thursday, December 27th. Cantor Fitzgerald restated an “overweight” rating and issued a $38.00 price target (up from $36.00) on shares of Corbus Pharmaceuticals in a research report on Friday, January 11th. ValuEngine lowered shares of Corbus Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 24th. Finally, Zacks Investment Research lowered shares of Corbus Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 13th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $23.59.
NASDAQ:CRBP opened at $7.24 on Wednesday. The stock has a market cap of $464.76 million, a PE ratio of -7.39 and a beta of 2.16. Corbus Pharmaceuticals Holdings Inc has a 52 week low of $4.50 and a 52 week high of $9.11.
Corbus Pharmaceuticals (NASDAQ:CRBP) last released its quarterly earnings data on Tuesday, March 12th. The biopharmaceutical company reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.07). The business had revenue of $1.93 million for the quarter, compared to the consensus estimate of $1.99 million. Corbus Pharmaceuticals had a negative return on equity of 116.34% and a negative net margin of 1,154.52%. On average, research analysts anticipate that Corbus Pharmaceuticals Holdings Inc will post -0.88 earnings per share for the current fiscal year.
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About Corbus Pharmaceuticals
Corbus Pharmaceuticals Holdings, Inc, a clinical-stage pharmaceutical company, focuses on the development and commercialization of various therapeutics to treat rare, chronic, and serious inflammatory and fibrotic diseases. Its lead product candidate is lenabasum, a synthetic oral endocannabinoid-mimetic drug to resolve chronic inflammation and fibrotic processes in systemic sclerosis, cystic fibrosis, dermatomyositis, and systemic lupus erythematosus diseases.
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