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Is CRBP A Good Stock To Buy Now?

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Debasis Saha
·6 min read
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The Insider Monkey team has completed processing the quarterly 13F filings for the September quarter submitted by the hedge funds and other money managers included in our extensive database. Most hedge fund investors experienced strong gains on the back of a strong market performance, which certainly propelled them to adjust their equity holdings so as to maintain the desired risk profile. As a result, the relevancy of these public filings and their content is indisputable, as they may reveal numerous high-potential stocks. The following article will discuss the smart money sentiment towards Corbus Pharmaceuticals Holdings Inc (NASDAQ:CRBP).

Is CRBP a good stock to buy now? Corbus Pharmaceuticals Holdings Inc (NASDAQ:CRBP) has experienced a decrease in support from the world's most elite money managers recently. Corbus Pharmaceuticals Holdings Inc (NASDAQ:CRBP) was in 8 hedge funds' portfolios at the end of the third quarter of 2020. The all time high for this statistics is 14. Our calculations also showed that CRBP isn't among the 30 most popular stocks among hedge funds (click for Q3 rankings and see the video for a quick look at the top 5 stocks).

Video: Watch our video about the top 5 most popular hedge fund stocks.

Today there are numerous tools shareholders have at their disposal to value their stock investments. A pair of the most under-the-radar tools are hedge fund and insider trading interest. Our experts have shown that, historically, those who follow the best picks of the best money managers can outclass the market by a very impressive margin (see the details here).

Nathaniel August - Mangrove Partners
Nathaniel August - Mangrove Partners

Nathaniel August of Mangrove Partners

At Insider Monkey we scour multiple sources to uncover the next great investment idea. For example, Federal Reserve has been creating trillions of dollars electronically to keep the interest rates near zero. We believe this will lead to inflation and boost real estate prices. So, we recommended this real estate stock to our monthly premium newsletter subscribers. We go through lists like the 5 best cheap stocks to buy according to Ray Dalio to identify stocks with upside potential. Even though we recommend positions in only a tiny fraction of the companies we analyze, we check out as many stocks as we can. We read hedge fund investor letters and listen to stock pitches at hedge fund conferences. You can subscribe to our free daily newsletter on our website. Now we're going to go over the recent hedge fund action encompassing Corbus Pharmaceuticals Holdings Inc (NASDAQ:CRBP).

What does smart money think about Corbus Pharmaceuticals Holdings Inc (NASDAQ:CRBP)?

Heading into the fourth quarter of 2020, a total of 8 of the hedge funds tracked by Insider Monkey held long positions in this stock, a change of -43% from the previous quarter. Below, you can check out the change in hedge fund sentiment towards CRBP over the last 21 quarters. So, let's review which hedge funds were among the top holders of the stock and which hedge funds were making big moves.

Is CRBP A Good Stock To Buy?
Is CRBP A Good Stock To Buy?

The largest stake in Corbus Pharmaceuticals Holdings Inc (NASDAQ:CRBP) was held by Knoll Capital Management, which reported holding $9.1 million worth of stock at the end of September. It was followed by Mangrove Partners with a $4.5 million position. Other investors bullish on the company included D E Shaw, Renaissance Technologies, and Pura Vida Investments. In terms of the portfolio weights assigned to each position Knoll Capital Management allocated the biggest weight to Corbus Pharmaceuticals Holdings Inc (NASDAQ:CRBP), around 7.44% of its 13F portfolio. Mangrove Partners is also relatively very bullish on the stock, designating 0.57 percent of its 13F equity portfolio to CRBP.

Judging by the fact that Corbus Pharmaceuticals Holdings Inc (NASDAQ:CRBP) has experienced bearish sentiment from hedge fund managers, it's easy to see that there lies a certain "tier" of money managers who were dropping their entire stakes by the end of the third quarter. At the top of the heap, Steve Cohen's Point72 Asset Management cut the biggest position of the "upper crust" of funds tracked by Insider Monkey, worth close to $12.6 million in stock. Ken Griffin's fund, Citadel Investment Group, also dumped its stock, about $10.6 million worth. These transactions are interesting, as total hedge fund interest was cut by 6 funds by the end of the third quarter.

Let's now review hedge fund activity in other stocks similar to Corbus Pharmaceuticals Holdings Inc (NASDAQ:CRBP). These stocks are BioSig Technologies, Inc. (NASDAQ:BSGM), ContraFect Corp (NASDAQ:CFRX), BiomX Inc. (NYSE:PHGE), GlycoMimetics, Inc. (NASDAQ:GLYC), NewHold Investment Corp. (NASDAQ:NHIC), Natural Resource Partners LP (NYSE:NRP), and CIM Commercial Trust Corporation (NASDAQ:CMCT). This group of stocks' market valuations are closest to CRBP's market valuation.

[table] Ticker, No of HFs with positions, Total Value of HF Positions (x1000), Change in HF Position BSGM,3,294,0 CFRX,11,22007,1 PHGE,6,17882,-1 GLYC,12,45240,-2 NHIC,11,43710,11 NRP,2,6814,0 CMCT,4,11308,0 Average,7,21036,1.3 [/table]

View table here if you experience formatting issues.

As you can see these stocks had an average of 7 hedge funds with bullish positions and the average amount invested in these stocks was $21 million. That figure was $17 million in CRBP's case. GlycoMimetics, Inc. (NASDAQ:GLYC) is the most popular stock in this table. On the other hand Natural Resource Partners LP (NYSE:NRP) is the least popular one with only 2 bullish hedge fund positions. Corbus Pharmaceuticals Holdings Inc (NASDAQ:CRBP) is not the most popular stock in this group but hedge fund interest is still above average. Our overall hedge fund sentiment score for CRBP is 46.1. Stocks with higher number of hedge fund positions relative to other stocks as well as relative to their historical range receive a higher sentiment score. This is a slightly positive signal but we'd rather spend our time researching stocks that hedge funds are piling on. Our calculations showed that top 20 most popular stocks among hedge funds returned 41.3% in 2019 and outperformed the S&P 500 ETF (SPY) by 10 percentage points. These stocks gained 31.6% in 2020 through December 2nd and beat the market again by 16 percentage points. Unfortunately CRBP wasn't nearly as popular as these 20 stocks and hedge funds that were betting on CRBP were disappointed as the stock returned -26.1% since the end of September (through 12/2) and underperformed the market. If you are interested in investing in large cap stocks with huge upside potential, you should check out the top 20 most popular stocks among hedge funds as many of these stocks already outperformed the market so far this year.

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Disclosure: None. This article was originally published at Insider Monkey.

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