Metropolitan Life Insurance Co. NY grew its position in shares of Corbus Pharmaceuticals Holdings Inc (NASDAQ:CRBP) by 357.7% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 16,973 shares of the biopharmaceutical company’s stock after acquiring an additional 13,265 shares during the quarter. Metropolitan Life Insurance Co. NY’s holdings in Corbus Pharmaceuticals were worth $99,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Alps Advisors Inc. boosted its position in shares of Corbus Pharmaceuticals by 30.7% during the 4th quarter. Alps Advisors Inc. now owns 132,272 shares of the biopharmaceutical company’s stock valued at $772,000 after acquiring an additional 31,040 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Corbus Pharmaceuticals by 0.5% during the 3rd quarter. Vanguard Group Inc. now owns 2,390,014 shares of the biopharmaceutical company’s stock valued at $18,045,000 after acquiring an additional 11,609 shares during the last quarter. IFP Advisors Inc boosted its position in shares of Corbus Pharmaceuticals by 6.8% during the 4th quarter. IFP Advisors Inc now owns 1,608,569 shares of the biopharmaceutical company’s stock valued at $9,458,000 after acquiring an additional 102,323 shares during the last quarter. D.A. Davidson & CO. boosted its position in shares of Corbus Pharmaceuticals by 76.5% during the 4th quarter. D.A. Davidson & CO. now owns 36,460 shares of the biopharmaceutical company’s stock valued at $213,000 after acquiring an additional 15,800 shares during the last quarter. Finally, Vanguard Group Inc boosted its position in shares of Corbus Pharmaceuticals by 0.5% during the 3rd quarter. Vanguard Group Inc now owns 2,390,014 shares of the biopharmaceutical company’s stock valued at $18,045,000 after acquiring an additional 11,609 shares during the last quarter. Hedge funds and other institutional investors own 40.21% of the company’s stock.

A number of research analysts have recently commented on the company. Cantor Fitzgerald reiterated an “overweight” rating and set a $38.00 target price (up from $36.00) on shares of Corbus Pharmaceuticals in a research report on Friday, January 11th. ValuEngine upgraded Corbus Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Thursday, March 21st. Zacks Investment Research downgraded Corbus Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. CIBC started coverage on Corbus Pharmaceuticals in a research report on Wednesday, March 20th. They set an “outperform” rating and a $28.00 target price for the company. Finally, Jefferies Financial Group started coverage on Corbus Pharmaceuticals in a research report on Friday, April 5th. They issued a “buy” rating and a $18.00 price target for the company. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $23.59.

In related news, insider Barbara White purchased 4,638 shares of the stock in a transaction that occurred on Thursday, March 14th. The stock was bought at an average cost of $6.47 per share, for a total transaction of $30,007.86. Following the completion of the transaction, the insider now directly owns 184,159 shares in the company, valued at $1,191,508.73. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Over the last 90 days, insiders purchased 8,668 shares of company stock valued at $56,923. 12.60% of the stock is owned by corporate insiders.

Shares of CRBP opened at $7.33 on Wednesday. The firm has a market capitalization of $455.70 million, a P/E ratio of -7.48 and a beta of 2.16. Corbus Pharmaceuticals Holdings Inc has a 52-week low of $4.50 and a 52-week high of $9.11.

Corbus Pharmaceuticals (NASDAQ:CRBP) last issued its quarterly earnings results on Tuesday, March 12th. The biopharmaceutical company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.07). The company had revenue of $1.93 million during the quarter, compared to the consensus estimate of $1.99 million. Corbus Pharmaceuticals had a negative return on equity of 116.34% and a negative net margin of 1,154.52%. On average, analysts anticipate that Corbus Pharmaceuticals Holdings Inc will post -0.88 EPS for the current year.

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Corbus Pharmaceuticals Profile

Corbus Pharmaceuticals Holdings, Inc, a clinical-stage pharmaceutical company, focuses on the development and commercialization of various therapeutics to treat rare, chronic, and serious inflammatory and fibrotic diseases. Its lead product candidate is lenabasum, a synthetic oral endocannabinoid-mimetic drug to resolve chronic inflammation and fibrotic processes in systemic sclerosis, cystic fibrosis, dermatomyositis, and systemic lupus erythematosus diseases.

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

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