Victory Capital Management Inc. Makes New $862,000 Investment in Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP)

Victory Capital Management Inc. purchased a new position in shares of Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) during the second quarter, Holdings Channel.com reports. The fund purchased 19,060 shares of the biopharmaceutical company’s stock, valued at approximately $862,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Rhumbline Advisers purchased a new stake in Corbus Pharmaceuticals during the second quarter worth about $638,000. TD Asset Management Inc increased its stake in Corbus Pharmaceuticals by 92.5% during the second quarter. TD Asset Management Inc now owns 40,800 shares of the biopharmaceutical company’s stock worth $1,846,000 after purchasing an additional 19,600 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Corbus Pharmaceuticals during the first quarter worth about $976,000. Bank of New York Mellon Corp purchased a new stake in Corbus Pharmaceuticals during the second quarter worth about $1,368,000. Finally, Altitude Crest Partners Inc. purchased a new stake in Corbus Pharmaceuticals during the first quarter worth about $4,069,000. 64.64% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have issued reports on CRBP shares. B. Riley cut their price target on shares of Corbus Pharmaceuticals from $85.00 to $40.00 and set a “buy” rating on the stock in a research note on Friday. Oppenheimer upped their target price on shares of Corbus Pharmaceuticals from $80.00 to $88.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Wedbush cut their target price on shares of Corbus Pharmaceuticals from $85.00 to $51.00 and set an “outperform” rating on the stock in a research note on Friday. HC Wainwright restated a “buy” rating and set a $80.00 target price on shares of Corbus Pharmaceuticals in a research note on Tuesday, August 6th. Finally, StockNews.com lowered shares of Corbus Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, August 10th. One analyst has rated the stock with a sell rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $65.86.

Corbus Pharmaceuticals Stock Down 62.3 %

Shares of Corbus Pharmaceuticals stock opened at $19.51 on Friday. The firm has a market capitalization of $208.50 million, a P/E ratio of -2.80 and a beta of 2.56. Corbus Pharmaceuticals Holdings, Inc. has a 52 week low of $3.03 and a 52 week high of $61.90. The firm’s 50 day moving average is $55.03 and its two-hundred day moving average is $46.93.

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

Corbus Pharmaceuticals Company 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.