Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) Shares Acquired by State Street Corp

State Street Corp lifted its stake in shares of Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP - Free Report) by 34.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 595,576 shares of the biopharmaceutical company's stock after acquiring an additional 153,243 shares during the quarter. State Street Corp owned approximately 4.89% of Corbus Pharmaceuticals worth $12,287,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. MetLife Investment Management LLC bought a new position in shares of Corbus Pharmaceuticals during the third quarter valued at approximately $123,000. SG Americas Securities LLC purchased a new stake in Corbus Pharmaceuticals during the third quarter valued at approximately $151,000. FMR LLC lifted its position in Corbus Pharmaceuticals by 33.0% during the third quarter. FMR LLC now owns 10,028 shares of the biopharmaceutical company's stock valued at $207,000 after acquiring an additional 2,486 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in Corbus Pharmaceuticals by 7.6% during the third quarter. The Manufacturers Life Insurance Company now owns 22,731 shares of the biopharmaceutical company's stock valued at $469,000 after acquiring an additional 1,600 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its position in Corbus Pharmaceuticals by 29.9% during the third quarter. Victory Capital Management Inc. now owns 24,760 shares of the biopharmaceutical company's stock valued at $511,000 after acquiring an additional 5,700 shares during the last quarter. Institutional investors own 64.64% of the company's stock.

Analyst Upgrades and Downgrades

CRBP has been the subject of a number of analyst reports. HC Wainwright reissued a "buy" rating and set a $80.00 target price on shares of Corbus Pharmaceuticals in a research report on Monday, September 23rd. Royal Bank of Canada reissued an "outperform" rating and set a $82.00 target price on shares of Corbus Pharmaceuticals in a research report on Friday, September 20th. B. Riley decreased their price target on shares of Corbus Pharmaceuticals from $85.00 to $40.00 and set a "buy" rating for the company in a report on Friday, September 20th. Piper Sandler started coverage on shares of Corbus Pharmaceuticals in a report on Monday, December 2nd. They issued an "overweight" rating and a $35.00 price target for the company. Finally, Mizuho reaffirmed an "outperform" rating and issued a $74.00 price target on shares of Corbus Pharmaceuticals in a report on Friday, September 20th. One research analyst has rated the stock with a sell rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $62.00.

Corbus Pharmaceuticals Stock Down 0.2 %

Shares of NASDAQ:CRBP traded down $0.03 during midday trading on Thursday, reaching $13.14. The company's stock had a trading volume of 242,795 shares, compared to its average volume of 541,032. The firm has a market capitalization of $160.03 million, a PE ratio of -2.80 and a beta of 2.58. Corbus Pharmaceuticals Holdings, Inc. has a twelve month low of $5.30 and a twelve month high of $61.90. The stock has a fifty day moving average of $16.50 and a 200 day moving average of $35.85.

About Corbus Pharmaceuticals

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.