Bank of New York Mellon Corp increased its stake in shares of Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) by 7.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 21,102 shares of the biopharmaceutical company’s stock after buying an additional 1,511 shares during the period. Bank of New York Mellon Corp’s holdings in Corbus Pharmaceuticals Holdings were worth $174,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Evanson Asset Management LLC increased its position in Corbus Pharmaceuticals Holdings by 1.8% in the first quarter. Evanson Asset Management LLC now owns 20,360 shares of the biopharmaceutical company’s stock valued at $168,000 after buying an additional 360 shares during the last quarter. Highbridge Capital Management LLC bought a new position in Corbus Pharmaceuticals Holdings during the fourth quarter valued at about $450,000. Finally, Creative Planning increased its position in Corbus Pharmaceuticals Holdings by 2.4% in the first quarter. Creative Planning now owns 166,950 shares of the biopharmaceutical company’s stock valued at $1,377,000 after buying an additional 3,983 shares during the last quarter. 28.12% of the stock is currently owned by institutional investors and hedge funds.

Corbus Pharmaceuticals Holdings, Inc. (NASDAQ CRBP) traded down 0.838% during trading on Friday, reaching $5.801. 57,598 shares of the company’s stock traded hands. The stock’s market cap is $291.33 million. The firm’s 50 day moving average price is $6.27 and its 200-day moving average price is $7.09. Corbus Pharmaceuticals Holdings, Inc. has a one year low of $2.95 and a one year high of $10.78.

Corbus Pharmaceuticals Holdings (NASDAQ:CRBP) last released its earnings results on Wednesday, August 9th. The biopharmaceutical company reported ($0.15) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.19) by $0.04. The company had revenue of $0.35 million for the quarter, compared to analyst estimates of $0.50 million. Corbus Pharmaceuticals Holdings had a negative net margin of 1,001.77% and a negative return on equity of 126.20%. On average, equities analysts anticipate that Corbus Pharmaceuticals Holdings, Inc. will post ($0.73) earnings per share for the current fiscal year.

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CRBP has been the topic of several recent analyst reports. Noble Financial reaffirmed a “buy” rating on shares of Corbus Pharmaceuticals Holdings in a report on Friday, June 16th. Cantor Fitzgerald set a $24.00 price objective on shares of Corbus Pharmaceuticals Holdings and gave the company a “buy” rating in a report on Tuesday, June 13th. Finally, BidaskClub raised shares of Corbus Pharmaceuticals Holdings from a “sell” rating to a “hold” rating in a report on Saturday, July 8th. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $20.50.

Corbus Pharmaceuticals Holdings 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.

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

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