BlackRock Inc. Grows Stake in Corbus Pharmaceuticals Holdings Inc (NASDAQ:CRBP)

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BlackRock Inc. grew its position in Corbus Pharmaceuticals Holdings Inc (NASDAQ:CRBP) by 5.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,284,629 shares of the biopharmaceutical company’s stock after purchasing an additional 253,676 shares during the quarter. BlackRock Inc. owned about 0.08% of Corbus Pharmaceuticals worth $36,623,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Aperio Group LLC purchased a new position in Corbus Pharmaceuticals in the second quarter worth $29,000. Wells Fargo & Company MN grew its holdings in Corbus Pharmaceuticals by 7.1% in the second quarter. Wells Fargo & Company MN now owns 103,549 shares of the biopharmaceutical company’s stock worth $717,000 after purchasing an additional 6,820 shares during the last quarter. WINTON GROUP Ltd purchased a new position in Corbus Pharmaceuticals in the second quarter worth $97,000. JPMorgan Chase & Co. grew its holdings in Corbus Pharmaceuticals by 56.0% in the second quarter. JPMorgan Chase & Co. now owns 19,272 shares of the biopharmaceutical company’s stock worth $132,000 after purchasing an additional 6,922 shares during the last quarter. Finally, AE Wealth Management LLC purchased a new position in Corbus Pharmaceuticals in the second quarter worth $755,000. 50.05% of the stock is currently owned by institutional investors and hedge funds.

In related news, COO Robert Paul Discordia acquired 15,000 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were purchased at an average cost of $5.86 per share, with a total value of $87,900.00. Following the completion of the acquisition, the chief operating officer now directly owns 30,150 shares of the company’s stock, valued at $176,679. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Insiders have bought 19,175 shares of company stock worth $112,241 over the last three months. Corporate insiders own 8.20% of the company’s stock.

Shares of CRBP opened at $4.65 on Friday. The firm has a market capitalization of $300.63 million, a PE ratio of -4.74 and a beta of 1.87. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.56 and a quick ratio of 2.56. Corbus Pharmaceuticals Holdings Inc has a 1-year low of $4.44 and a 1-year high of $9.11. The company’s fifty day moving average price is $5.21 and its 200-day moving average price is $6.40.

Corbus Pharmaceuticals (NASDAQ:CRBP) last announced its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.25. The firm had revenue of $29.10 million for the quarter, compared to analyst estimates of $10.32 million. Corbus Pharmaceuticals had a negative net margin of 164.68% and a negative return on equity of 139.91%. As a group, research analysts anticipate that Corbus Pharmaceuticals Holdings Inc will post -1.11 EPS for the current fiscal year.

Several equities analysts have issued reports on the stock. HC Wainwright set a $24.00 price target on shares of Corbus Pharmaceuticals and gave the stock a “buy” rating in a report on Monday, June 24th. BidaskClub lowered shares of Corbus Pharmaceuticals from a “sell” rating to a “strong sell” rating in a report on Wednesday, September 25th. ValuEngine lowered shares of Corbus Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Friday, August 2nd. Zacks Investment Research raised shares of Corbus Pharmaceuticals from a “hold” rating to a “strong-buy” rating and set a $7.00 price objective on the stock in a report on Tuesday, August 13th. Finally, Royal Bank of Canada reissued a “buy” rating and set a $23.00 price objective on shares of Corbus Pharmaceuticals in a report on Sunday, August 11th. One investment analyst has rated the stock with a sell rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $23.50.

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 drug that is in Phase 3 clinical trial for the treatment of systemic sclerosis and dermatomyositis, and in Phase 2 clinical trial to treat systemic lupus erythematosus and cystic fibrosis.

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Institutional Ownership by Quarter for Corbus Pharmaceuticals (NASDAQ:CRBP)

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