The Manufacturers Life Insurance Company purchased a new position in shares of Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 36,181 shares of the biopharmaceutical company’s stock, valued at approximately $228,000. The Manufacturers Life Insurance Company owned approximately 0.07% of Corbus Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. Artal Group S.A. purchased a new position in Corbus Pharmaceuticals during the second quarter worth $1,575,000. Schwab Charles Investment Management Inc. purchased a new stake in shares of Corbus Pharmaceuticals in the second quarter valued at $469,000. Alps Advisors Inc. purchased a new stake in shares of Corbus Pharmaceuticals in the second quarter valued at $286,000. Vanguard Group Inc. grew its position in shares of Corbus Pharmaceuticals by 6.0% in the first quarter. Vanguard Group Inc. now owns 1,255,429 shares of the biopharmaceutical company’s stock valued at $10,357,000 after purchasing an additional 71,419 shares during the period. Finally, Rhumbline Advisers purchased a new stake in shares of Corbus Pharmaceuticals in the second quarter valued at $283,000. 27.84% of the stock is owned by institutional investors.

In other news, Director David P. Hochman purchased 10,000 shares of the stock in a transaction on Friday, November 10th. The stock was purchased at an average price of $7.08 per share, with a total value of $70,800.00. Following the completion of the transaction, the director now owns 459,500 shares in the company, valued at $3,253,260. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David P. Hochman purchased 5,000 shares of the stock in a transaction on Monday, November 13th. The shares were purchased at an average cost of $6.90 per share, with a total value of $34,500.00. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 25,336 shares of company stock valued at $175,632. 11.90% of the stock is owned by company insiders.

Shares of Corbus Pharmaceuticals Holdings, Inc. (NASDAQ CRBP) opened at $7.55 on Friday. Corbus Pharmaceuticals Holdings, Inc. has a 1 year low of $5.30 and a 1 year high of $10.50.

Corbus Pharmaceuticals (NASDAQ:CRBP) last posted its quarterly earnings results on Wednesday, November 8th. The biopharmaceutical company reported ($0.14) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.16) by $0.02. Corbus Pharmaceuticals had a negative return on equity of 96.02% and a negative net margin of 1,040.41%. The firm had revenue of $0.80 million during the quarter. analysts forecast that Corbus Pharmaceuticals Holdings, Inc. will post -0.61 EPS for the current year.

CRBP has been the subject of a number of recent analyst reports. BidaskClub raised Corbus Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Friday, August 25th. ValuEngine downgraded Corbus Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Wednesday, September 13th. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $24.00 price objective on shares of Corbus Pharmaceuticals in a research report on Wednesday, September 20th. Finally, Noble Financial reaffirmed a “buy” rating and issued a $16.00 price objective on shares of Corbus Pharmaceuticals in a research report on Friday, September 29th. Two investment analysts have rated the stock with a sell rating and three have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $23.67.

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Corbus Pharmaceuticals Company Profile

Corbus Pharmaceuticals Holdings, Inc is a clinical-stage pharmaceutical company. The Company is focused on the development and commercialization of therapeutics to treat rare, chronic and serious inflammatory and fibrotic diseases. The Company operates through developing and commercializing therapeutics to treat rare life-threatening inflammatory fibrotic diseases segment.

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

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