Corbus Pharmaceuticals Holdings, Inc. $CRBP Holdings Raised by Exome Asset Management LLC

Exome Asset Management LLC increased its stake in Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) by 67.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 234,136 shares of the biopharmaceutical company’s stock after purchasing an additional 94,593 shares during the quarter. Exome Asset Management LLC owned about 1.26% of Corbus Pharmaceuticals worth $2,199,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Orbimed Advisors LLC increased its stake in Corbus Pharmaceuticals by 8.8% during the 1st quarter. Orbimed Advisors LLC now owns 1,737,287 shares of the biopharmaceutical company’s stock valued at $16,313,000 after buying an additional 140,000 shares during the period. Rangeley Capital LLC acquired a new stake in shares of Corbus Pharmaceuticals in the 1st quarter worth approximately $421,000. Pale Fire Capital SE lifted its stake in shares of Corbus Pharmaceuticals by 14.5% in the 1st quarter. Pale Fire Capital SE now owns 21,350 shares of the biopharmaceutical company’s stock worth $200,000 after acquiring an additional 2,700 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Corbus Pharmaceuticals by 76.6% in the first quarter. Dimensional Fund Advisors LP now owns 136,602 shares of the biopharmaceutical company’s stock valued at $1,281,000 after acquiring an additional 59,248 shares in the last quarter. Finally, Seven Fleet Capital Management LP bought a new position in shares of Corbus Pharmaceuticals in the fourth quarter valued at approximately $462,000. Institutional investors own 64.64% of the company’s stock.

Corbus Pharmaceuticals Stock Performance

Shares of NASDAQ:CRBP opened at $9.08 on Tuesday. The stock has a market capitalization of $168.25 million, a price-to-earnings ratio of -1.56 and a beta of 2.55. Corbus Pharmaceuticals Holdings, Inc. has a 1-year low of $7.12 and a 1-year high of $20.56. The company has a 50 day moving average price of $8.73 and a 200 day moving average price of $8.98.

Corbus Pharmaceuticals (NASDAQ:CRBP) last posted its quarterly earnings results on Tuesday, May 12th. The biopharmaceutical company reported ($1.23) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.26) by $0.03. On average, sell-side analysts expect that Corbus Pharmaceuticals Holdings, Inc. will post -4.87 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on CRBP. Oppenheimer dropped their target price on Corbus Pharmaceuticals from $54.00 to $52.00 and set an “outperform” rating on the stock in a report on Wednesday, June 17th. Jefferies Financial Group decreased their price target on Corbus Pharmaceuticals from $36.00 to $33.00 and set a “buy” rating for the company in a research note on Tuesday, May 12th. Mizuho lowered their price target on Corbus Pharmaceuticals from $44.00 to $34.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 23rd. Wall Street Zen raised Corbus Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 20th. Finally, Wedbush cut their price objective on Corbus Pharmaceuticals from $38.00 to $30.00 and set an “outperform” rating for the company in a report on Wednesday, May 27th. Nine equities research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Corbus Pharmaceuticals currently has an average rating of “Moderate Buy” and an average price target of $40.67.

Insiders Place Their Bets

In related news, insider Nishant C. Saxena bought 9,000 shares of Corbus Pharmaceuticals stock in a transaction dated Wednesday, June 3rd. The stock was acquired at an average cost of $7.58 per share, with a total value of $68,220.00. Following the completion of the acquisition, the insider directly owned 75,300 shares in the company, valued at approximately $570,774. This trade represents a 13.57% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director John Kenneth Jenkins sold 4,800 shares of the stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $7.91, for a total value of $37,968.00. Following the completion of the transaction, the director owned 3,833 shares of the company’s stock, valued at $30,319.03. This trade represents a 55.60% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 9,238 shares of company stock worth $73,073 over the last 90 days. Insiders own 3.50% of the company’s stock.

Corbus Pharmaceuticals Profile

Corbus Pharmaceuticals Holdings, Inc is a clinical-stage biopharmaceutical company dedicated to the development and commercialization of therapeutic candidates for rare, life-threatening inflammatory and fibrotic diseases. The company’s lead investigational therapy, lenabasum, is a synthetic, oral cannabinoid receptor type 2 (CB2) agonist designed to resolve chronic inflammation by harnessing the body’s innate resolution pathways. Corbus operates by advancing small-molecule compounds through preclinical and clinical studies to address unmet medical needs in autoimmune and inflammatory disorders.

Lenabasum is currently under evaluation in a Phase 3 clinical trial for diffuse cutaneous systemic sclerosis (dcSSc) and in a Phase 2 study for cystic fibrosis–related inflammation.