Ensign Peak Advisors Inc Sells 22,136 Shares of Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP)

Ensign Peak Advisors Inc cut its holdings in Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) by 32.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,364 shares of the biopharmaceutical company’s stock after selling 22,136 shares during the quarter. Ensign Peak Advisors Inc owned approximately 0.42% of Corbus Pharmaceuticals worth $2,053,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Rhumbline Advisers purchased a new stake in Corbus Pharmaceuticals in the second quarter worth about $638,000. Acadian Asset Management LLC purchased a new stake in shares of Corbus Pharmaceuticals in the 2nd quarter worth approximately $716,000. ClariVest Asset Management LLC bought a new position in Corbus Pharmaceuticals during the 2nd quarter valued at approximately $725,000. Victory Capital Management Inc. purchased a new position in Corbus Pharmaceuticals during the second quarter valued at $862,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in Corbus Pharmaceuticals in the first quarter worth $976,000. 64.64% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Corbus Pharmaceuticals

In other news, major shareholder Cormorant Asset Management, Lp purchased 350,000 shares of the business’s stock in a transaction on Friday, September 20th. The stock was acquired at an average cost of $20.01 per share, for a total transaction of $7,003,500.00. Following the purchase, the insider now directly owns 2,375,000 shares in the company, valued at approximately $47,523,750. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 4.00% of the stock is owned by corporate insiders.

Corbus Pharmaceuticals Stock Down 2.7 %

CRBP opened at $20.92 on Friday. Corbus Pharmaceuticals Holdings, Inc. has a twelve month low of $3.03 and a twelve month high of $61.90. The firm has a 50 day moving average price of $52.00 and a 200-day moving average price of $46.42. The stock has a market capitalization of $223.57 million, a price-to-earnings ratio of -3.01 and a beta of 2.56.

Corbus Pharmaceuticals (NASDAQ:CRBP) last released its quarterly earnings results on Tuesday, August 6th. The biopharmaceutical company reported ($0.90) earnings per share for the quarter, beating the consensus estimate of ($1.19) by $0.29. As a group, analysts expect that Corbus Pharmaceuticals Holdings, Inc. will post -3.77 earnings per share for the current year.

Analyst Upgrades and Downgrades

CRBP has been the subject of several analyst reports. Mizuho restated an “outperform” rating and set a $74.00 price target on shares of Corbus Pharmaceuticals in a report on Friday, September 20th. Lifesci Capital upgraded shares of Corbus Pharmaceuticals to a “strong-buy” rating in a research note on Wednesday, August 21st. Royal Bank of Canada reiterated an “outperform” rating and issued a $82.00 target price on shares of Corbus Pharmaceuticals in a research note on Friday, September 20th. HC Wainwright reissued a “buy” rating and set a $80.00 price target on shares of Corbus Pharmaceuticals in a research report on Monday, September 23rd. Finally, Oppenheimer boosted their price objective on shares of Corbus Pharmaceuticals from $80.00 to $88.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $65.86.

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.