HighVista Strategies LLC Increases Holdings in Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP)

HighVista Strategies LLC raised its stake in shares of Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) by 94.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 75,292 shares of the biopharmaceutical company’s stock after buying an additional 36,499 shares during the quarter. HighVista Strategies LLC’s holdings in Corbus Pharmaceuticals were worth $1,553,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in CRBP. Darwin Global Management Ltd. purchased a new position in Corbus Pharmaceuticals during the second quarter valued at $14,267,000. Vanguard Group Inc. raised its stake in Corbus Pharmaceuticals by 143.7% during the first quarter. Vanguard Group Inc. now owns 437,264 shares of the biopharmaceutical company’s stock valued at $17,158,000 after buying an additional 257,808 shares during the last quarter. Price T Rowe Associates Inc. MD purchased a new position in Corbus Pharmaceuticals during the first quarter valued at $7,554,000. Integral Health Asset Management LLC purchased a new position in Corbus Pharmaceuticals during the second quarter valued at $4,525,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Corbus Pharmaceuticals by 224.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 93,643 shares of the biopharmaceutical company’s stock worth $1,932,000 after purchasing an additional 64,800 shares in the last quarter. Hedge funds and other institutional investors own 64.64% of the company’s stock.

Insider Buying and Selling at Corbus Pharmaceuticals

In related news, major shareholder Cormorant Asset Management, Lp purchased 350,000 shares of the business’s stock in a transaction on Friday, September 20th. The stock was acquired at an average price of $20.01 per share, with a total value of $7,003,500.00. Following the completion of the acquisition, the insider now owns 2,375,000 shares of the company’s stock, valued at approximately $47,523,750. This trade represents a 17.28 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 4.00% of the stock is currently owned by corporate insiders.

Corbus Pharmaceuticals Stock Up 0.1 %

Shares of CRBP opened at $17.84 on Tuesday. The business has a fifty day moving average of $18.18 and a 200 day moving average of $39.40. Corbus Pharmaceuticals Holdings, Inc. has a one year low of $4.94 and a one year high of $61.90.

Wall Street Analysts Forecast Growth

A number of analysts have commented on CRBP shares. Oppenheimer lifted their target price on Corbus Pharmaceuticals from $80.00 to $88.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Mizuho reissued an “outperform” rating and issued a $74.00 target price on shares of Corbus Pharmaceuticals in a report on Friday, September 20th. Lifesci Capital raised Corbus Pharmaceuticals to a “strong-buy” rating in a report on Wednesday, August 21st. Piper Sandler started coverage on Corbus Pharmaceuticals in a report on Monday. They issued an “overweight” rating and a $35.00 target price for the company. Finally, B. Riley reduced their target price on Corbus Pharmaceuticals from $85.00 to $40.00 and set a “buy” rating for the company in a report on Friday, September 20th. One analyst has rated the stock with a sell rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Corbus Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus price target of $62.00.

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.