Here’s Why Aurinia Pharmaceuticals, Georgetown Bancorp, and Three Other Stocks Are on the Move Today

Neptune Technologies & Bioressources-Ord (NASDAQ:NEPT) stock has advanced by 17% so far today. On Monday, it was announced that Neptune reached a patent agreement with Aker BioMarine. Under the terms of the agreement, both companies agreed to end all outstanding litigations. Aker will also have access to Neptune’s composition patents and will receive $4 million over the period of 15 months for providing Neptune the rights to use its select krill oil-related patent portfolio. In return, Neptune will receive royalty payment worth $10 million over the course of 15 months. Just two hedge funds from our database have positions in Neptune Technologies, valued at $6.8 million in aggregate as of the end of June.

Corbus Pharmaceuticals Holdings Inc. (NASDAQ:CRBP)’s stock jumped after the opening bell, but has retreated and is currently trading close to flat on volume significantly above average. No particular news seem to be behind the move. On Tuesday, Cantor Fitzgerald initiated coverage on the stock with a ‘Buy’ rating and $17 price target. In a note, Cantor pointed out that the company has several clinical inflection points due next year. Corbus Pharmaceuticals Holdings is scheduled to release data on its lead drug candidate resunab. The company will also release the initial efficacy result for three new orphan drugs in the near future. Seven investors we track reported positions in Corbus Pharmaceuticals Holdings Inc. (NASDAQ:CRBP) worth about $25.77 million as of the end of June, considerably higher than three funds holding stock worth $7 million a quarter earlier.

Big 5 Sporting Goods Corporation (NASDAQ:BGFV)’s shares have rallied by over 10% after Deutsche Bank analyst Mike Baker upgraded the stock to ‘Buy’ from ‘Hold’ and set a $16.50 price target. The analyst cited increasing sales trends and market share gains, improvements in profitability from better margins, and higher earnings power, which are not “fully reflected” in the company’s value. The number of funds from our database long Big 5 Sporting Goods Corporation (NASDAQ:BGFV) declined to 10 from 13 during the second quarter, while the total value of their holdings slid to $41 million from $55 million and represented 20.60% of the company’s float at the end of June.

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