Y Intercept Hong Kong Ltd Purchases Shares of 20,437 Corbus Pharmaceuticals Holdings, Inc. $CRBP

Y Intercept Hong Kong Ltd acquired a new position in shares of Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 20,437 shares of the biopharmaceutical company’s stock, valued at approximately $141,000. Y Intercept Hong Kong Ltd owned approximately 0.17% of Corbus Pharmaceuticals at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Stonepine Capital Management LLC acquired a new stake in shares of Corbus Pharmaceuticals during the 1st quarter worth about $186,000. Nuveen LLC acquired a new position in Corbus Pharmaceuticals in the first quarter valued at about $243,000. AlphaQuest LLC bought a new stake in Corbus Pharmaceuticals during the first quarter worth about $299,000. Velan Capital Investment Management LP increased its holdings in shares of Corbus Pharmaceuticals by 4.1% during the first quarter. Velan Capital Investment Management LP now owns 59,000 shares of the biopharmaceutical company’s stock worth $313,000 after buying an additional 2,300 shares in the last quarter. Finally, Aberdeen Group plc increased its holdings in shares of Corbus Pharmaceuticals by 168.6% during the second quarter. Aberdeen Group plc now owns 72,226 shares of the biopharmaceutical company’s stock worth $498,000 after buying an additional 45,332 shares in the last quarter. Institutional investors and hedge funds own 64.64% of the company’s stock.

Corbus Pharmaceuticals Stock Performance

NASDAQ CRBP opened at $10.52 on Monday. The stock has a market capitalization of $128.92 million, a P/E ratio of -2.21 and a beta of 2.69. Corbus Pharmaceuticals Holdings, Inc. has a 52 week low of $4.64 and a 52 week high of $20.56. The stock has a fifty day moving average of $13.26 and a 200-day moving average of $10.05.

Insider Transactions at Corbus Pharmaceuticals

In other Corbus Pharmaceuticals news, CFO Sean F. Moran sold 12,981 shares of the business’s stock in a transaction dated Friday, October 24th. The stock was sold at an average price of $17.02, for a total transaction of $220,936.62. Following the completion of the sale, the chief financial officer directly owned 73,313 shares of the company’s stock, valued at approximately $1,247,787.26. The trade was a 15.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Yuval Cohen sold 8,973 shares of the company’s stock in a transaction dated Monday, October 27th. The shares were sold at an average price of $17.14, for a total transaction of $153,797.22. Following the transaction, the chief executive officer owned 138,187 shares in the company, valued at approximately $2,368,525.18. The trade was a 6.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 41,674 shares of company stock valued at $713,870. Corporate insiders own 3.60% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Piper Sandler reissued an “overweight” rating and issued a $51.00 target price on shares of Corbus Pharmaceuticals in a report on Monday, October 20th. Mizuho set a $39.00 price objective on Corbus Pharmaceuticals in a research note on Wednesday, October 29th. Oppenheimer decreased their target price on Corbus Pharmaceuticals from $56.00 to $53.00 and set an “outperform” rating on the stock in a report on Wednesday, August 6th. HC Wainwright restated a “buy” rating and issued a $40.00 target price on shares of Corbus Pharmaceuticals in a research note on Monday, October 20th. Finally, B. Riley upgraded shares of Corbus Pharmaceuticals to a “strong-buy” rating and set a $28.00 price target on the stock in a research report on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $45.00.

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.