Victory Capital Management Inc. Buys 5,700 Shares of Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP)

Victory Capital Management Inc. increased its stake in shares of Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) by 29.9% during the 3rd quarter, Holdings Channel.com reports. The fund owned 24,760 shares of the biopharmaceutical company’s stock after purchasing an additional 5,700 shares during the quarter. Victory Capital Management Inc.’s holdings in Corbus Pharmaceuticals were worth $511,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of CRBP. Janus Henderson Group PLC purchased a new position in shares of Corbus Pharmaceuticals in the first quarter worth $13,363,000. Darwin Global Management Ltd. bought a new stake in Corbus Pharmaceuticals in the 2nd quarter worth $14,267,000. Vanguard Group Inc. grew its holdings in Corbus Pharmaceuticals by 143.7% in the 1st quarter. Vanguard Group Inc. now owns 437,264 shares of the biopharmaceutical company’s stock worth $17,158,000 after acquiring an additional 257,808 shares during the last quarter. Price T Rowe Associates Inc. MD bought a new stake in Corbus Pharmaceuticals in the 1st quarter worth $7,554,000. Finally, Integral Health Asset Management LLC bought a new stake in Corbus Pharmaceuticals in the 2nd quarter worth $4,525,000. 64.64% of the stock is owned by hedge funds and other institutional investors.

Corbus Pharmaceuticals Stock Performance

Shares of NASDAQ:CRBP opened at $17.82 on Friday. Corbus Pharmaceuticals Holdings, Inc. has a 52-week low of $4.76 and a 52-week high of $61.90. The firm has a market capitalization of $217.05 million, a P/E ratio of -3.80 and a beta of 2.56. The stock has a 50 day moving average price of $18.20 and a 200-day moving average price of $39.66.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. B. Riley reduced their price target on Corbus Pharmaceuticals from $85.00 to $40.00 and set a “buy” rating on the stock in a report on Friday, September 20th. Mizuho reaffirmed an “outperform” rating and set a $74.00 price target on shares of Corbus Pharmaceuticals in a research report on Friday, September 20th. Oppenheimer upped their price target on Corbus Pharmaceuticals from $80.00 to $88.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. HC Wainwright reaffirmed a “buy” rating and set a $80.00 price target on shares of Corbus Pharmaceuticals in a research report on Monday, September 23rd. Finally, Lifesci Capital raised Corbus Pharmaceuticals to a “strong-buy” rating in a research report on Wednesday, August 21st. One equities research analyst has rated the stock with a sell rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Corbus Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average target price of $65.86.

Insider Transactions at Corbus Pharmaceuticals

In related news, major shareholder Cormorant Asset Management, Lp purchased 350,000 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The shares were bought at an average price of $20.01 per share, for a total transaction of $7,003,500.00. Following the purchase, the insider now directly owns 2,375,000 shares of the company’s stock, valued at approximately $47,523,750. This represents a 17.28 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 4.00% of the company’s stock.

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.