Cormorant Asset Management Doesn’t Think Corbus Pharmaceuticals Holdings Inc. (CRBP) Is Done Soaring Just Yet

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In a new 13G filing with the SEC, Bihua Chen‘s Cormorant Asset Management reported owning 2.35 million shares of Corbus Pharmaceuticals Holdings Inc. (NASDAQ:CRBP), which account for 5.37% of the company’s outstanding stock. The fund has raised its stake from the 2.00 million shares that it held at the end of June, according to its 13F filing for the June 30 reporting period.

Corbus Pharmaceuticals Holdings Inc. (NASDAQ:CRBP) is a clinical-stage pharmaceutical company that produces therapeutics for treating inflammatory and fibrotic diseasesOver the past 12 months, the company’s stock has gained an incredible 229.29%, with the bulk of those gains coming in the past two months. For the second quarter of 2016, Corbus Pharmaceuticals disclosed collaboration revenue of $396,598 and a loss per share of $0.11, compared to revenue of $113,636 and a loss per share of $0.10 for the corresponding quarter of 2015. Recently, Aegis set a price target of $12 on the stock along with a ‘Buy’ rating.

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Among the investors contained within Insider Monkey’s database, seven reported holding long positions in Corbus Pharmaceuticals Holdings Inc. (NASDAQ:CRBP) as of the end of June, up from just three at the end of March. Some of the bullish investors included Joseph Edelman’s Perceptive Advisors, which held a $9.57 million position, Fred Knoll’s Knoll Capital Management, with a position valued at $7.67 million, and Jim Simons’ Renaissance Technologies.

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Smart money managers who initiated a new position in the company during the June quarter encompassed Nathan Fischel’s DAFNA Capital Management, which had $1.2 million invested in the stock, and David Kim and Ken Greenberg’s Ghost Tree Capital, which acquired a position worth $897,000.

You can access the original SEC filing by clicking here.

Ownership Summary Table

Name Sole Voting Power Shared Voting Power Sole Dispositive Power Shared Dispositive Power Aggregate Amount Owned Power Percent of Class
Cormorant Global Healthcare Master Fund 0 1,954,600 0 1,954,600 1,954,600 4.47%
Cormorant Global Healthcare GP 0 1,954,600 0 1,954,600 1,954,600 4.47%
Cormorant Asset Management 0 2,350,700 0 2,350,700 2,350,700 5.37%
Bihua Chen 0 2,350,700 0 2,350,700 2,350,700 5.37%

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Page 1 of 8 – SEC Filing

Washington, D.C. 20549
Under the Securities Exchange Act of 1934
(Amendment No. ___)*
Corbus Pharmaceuticals Holdings, Inc.
(Name of Issuer)
Common Stock, par value $0.0001 per share
(Title of Class of Securities)
(CUSIP Number)
September 19, 2016
(Date of Event which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
[ ] Rule 13d-1(b)
[x] Rule 13d-1(c)
[ ] Rule 13d-1(d)
The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

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