Corbus Pharmaceuticals Holdings Inc (CRBP) Holdings Lowered by Raymond James Financial Services Advisors Inc.

Raymond James Financial Services Advisors Inc. cut its position in Corbus Pharmaceuticals Holdings Inc (NASDAQ:CRBP) by 12.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 353,559 shares of the biopharmaceutical company’s stock after selling 49,886 shares during the period. Raymond James Financial Services Advisors Inc. owned 0.62% of Corbus Pharmaceuticals worth $2,065,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently made changes to their positions in the business. Raymond James & Associates lifted its holdings in Corbus Pharmaceuticals by 84.1% in the fourth quarter. Raymond James & Associates now owns 76,494 shares of the biopharmaceutical company’s stock worth $447,000 after purchasing an additional 34,951 shares during the period. Bank of New York Mellon Corp lifted its holdings in Corbus Pharmaceuticals by 9.2% in the fourth quarter. Bank of New York Mellon Corp now owns 194,374 shares of the biopharmaceutical company’s stock worth $1,135,000 after purchasing an additional 16,305 shares during the period. Cambridge Investment Research Advisors Inc. lifted its holdings in Corbus Pharmaceuticals by 32.5% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 47,534 shares of the biopharmaceutical company’s stock worth $278,000 after purchasing an additional 11,650 shares during the period. Alps Advisors Inc. lifted its holdings in Corbus Pharmaceuticals by 30.7% in the fourth quarter. Alps Advisors Inc. now owns 132,272 shares of the biopharmaceutical company’s stock worth $772,000 after purchasing an additional 31,040 shares during the period. Finally, ETF Managers Group LLC acquired a new stake in Corbus Pharmaceuticals in the fourth quarter worth about $23,276,000. 45.31% of the stock is currently owned by institutional investors.

Shares of Corbus Pharmaceuticals stock opened at $6.83 on Friday. Corbus Pharmaceuticals Holdings Inc has a 52 week low of $4.50 and a 52 week high of $9.11. The stock has a market capitalization of $385.87 million, a price-to-earnings ratio of -6.97 and a beta of 2.17.



Corbus Pharmaceuticals (NASDAQ:CRBP) last issued its quarterly earnings results on Tuesday, March 12th. The biopharmaceutical company reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.07). Corbus Pharmaceuticals had a negative return on equity of 101.91% and a negative net margin of 1,154.52%. The business had revenue of $1.93 million during the quarter, compared to the consensus estimate of $1.99 million. On average, equities analysts anticipate that Corbus Pharmaceuticals Holdings Inc will post -0.91 EPS for the current year.

Several equities research analysts recently weighed in on CRBP shares. ValuEngine downgraded shares of Corbus Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 28th. HC Wainwright reaffirmed a “buy” rating and issued a $24.00 price objective on shares of Corbus Pharmaceuticals in a report on Friday, January 4th. BidaskClub downgraded shares of Corbus Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Tuesday, March 5th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $38.00 price objective (up previously from $36.00) on shares of Corbus Pharmaceuticals in a report on Friday, January 11th. Finally, Royal Bank of Canada started coverage on shares of Corbus Pharmaceuticals in a report on Friday, December 7th. They issued an “outperform” rating and a $23.00 price objective for the company. One analyst has rated the stock with a sell rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Corbus Pharmaceuticals currently has a consensus rating of “Buy” and a consensus price target of $22.90.

In related news, insider Barbara White acquired 4,638 shares of the business’s stock in a transaction on Thursday, March 14th. The shares were purchased at an average price of $6.47 per share, for a total transaction of $30,007.86. Following the acquisition, the insider now owns 184,159 shares in the company, valued at $1,191,508.73. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last quarter, insiders acquired 7,668 shares of company stock worth $49,943. 12.60% of the stock is owned by company insiders.

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About Corbus Pharmaceuticals

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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