Acadian Asset Management LLC Invests $716,000 in Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP)

Acadian Asset Management LLC acquired a new position in shares of Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 15,854 shares of the biopharmaceutical company’s stock, valued at approximately $716,000. Acadian Asset Management LLC owned 0.15% of Corbus Pharmaceuticals at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Rhumbline Advisers acquired a new stake in shares of Corbus Pharmaceuticals in the 2nd quarter valued at $638,000. Victory Capital Management Inc. bought a new stake in shares of Corbus Pharmaceuticals in the 2nd quarter valued at about $862,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Corbus Pharmaceuticals in the first quarter worth $976,000. Bank of New York Mellon Corp bought a new position in Corbus Pharmaceuticals during the second quarter worth about $1,368,000. Finally, TD Asset Management Inc lifted its holdings in shares of Corbus Pharmaceuticals by 92.5% during the 2nd quarter. TD Asset Management Inc now owns 40,800 shares of the biopharmaceutical company’s stock valued at $1,846,000 after purchasing an additional 19,600 shares in the last quarter. 64.64% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on CRBP shares. HC Wainwright reissued a “buy” rating and issued a $80.00 target price on shares of Corbus Pharmaceuticals in a research report on Tuesday, August 6th. B. Riley assumed coverage on Corbus Pharmaceuticals in a report on Wednesday, June 26th. They set a “buy” rating and a $85.00 target price on the stock. Royal Bank of Canada restated an “outperform” rating and set a $82.00 price objective on shares of Corbus Pharmaceuticals in a research report on Wednesday, August 28th. Wedbush started coverage on shares of Corbus Pharmaceuticals in a research report on Tuesday, July 30th. They issued an “outperform” rating and a $85.00 target price for the company. Finally, Oppenheimer increased their price target on Corbus Pharmaceuticals from $80.00 to $88.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $77.67.

Corbus Pharmaceuticals Trading Down 5.5 %

Corbus Pharmaceuticals stock opened at $50.90 on Wednesday. The stock has a 50-day moving average price of $55.89 and a two-hundred day moving average price of $47.00. Corbus Pharmaceuticals Holdings, Inc. has a 12 month low of $3.03 and a 12 month high of $61.90. The company has a market capitalization of $543.97 million, a PE ratio of -7.31 and a beta of 2.56.

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

About Corbus Pharmaceuticals

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.