Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) Shares Sold by Acuta Capital Partners LLC

Acuta Capital Partners LLC decreased its position in Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) by 71.3% during the 3rd quarter, Holdings Channel reports. The fund owned 18,500 shares of the biopharmaceutical company’s stock after selling 46,000 shares during the quarter. Acuta Capital Partners LLC’s holdings in Corbus Pharmaceuticals were worth $382,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. MetLife Investment Management LLC purchased a new stake in Corbus Pharmaceuticals in the 3rd quarter valued at approximately $123,000. SG Americas Securities LLC purchased a new position in shares of Corbus Pharmaceuticals during the 3rd quarter worth approximately $151,000. FMR LLC lifted its holdings in shares of Corbus Pharmaceuticals by 33.0% in the 3rd quarter. FMR LLC now owns 10,028 shares of the biopharmaceutical company’s stock valued at $207,000 after buying an additional 2,486 shares during the period. The Manufacturers Life Insurance Company boosted its stake in shares of Corbus Pharmaceuticals by 7.6% in the third quarter. The Manufacturers Life Insurance Company now owns 22,731 shares of the biopharmaceutical company’s stock valued at $469,000 after buying an additional 1,600 shares in the last quarter. Finally, Victory Capital Management Inc. grew its holdings in Corbus Pharmaceuticals by 29.9% during the third quarter. Victory Capital Management Inc. now owns 24,760 shares of the biopharmaceutical company’s stock worth $511,000 after acquiring an additional 5,700 shares during the period. 64.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. StockNews.com downgraded Corbus Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday, August 10th. HC Wainwright reiterated a “buy” rating and issued a $80.00 price objective on shares of Corbus Pharmaceuticals in a research note on Monday, September 23rd. Oppenheimer boosted their price objective on shares of Corbus Pharmaceuticals from $80.00 to $88.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Wedbush reaffirmed an “outperform” rating and issued a $51.00 target price on shares of Corbus Pharmaceuticals in a report on Monday, November 4th. Finally, Lifesci Capital raised Corbus Pharmaceuticals to a “strong-buy” rating in a research note on Wednesday, August 21st. One investment analyst has rated the stock with a sell rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Corbus Pharmaceuticals has an average rating of “Moderate Buy” and an average target price of $65.86.

Insider Activity at Corbus Pharmaceuticals

In other news, major shareholder Cormorant Asset Management, Lp bought 350,000 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The stock was purchased at an average price of $20.01 per share, with a total value of $7,003,500.00. Following the purchase, the insider now owns 2,375,000 shares of the company’s stock, valued at $47,523,750. This trade represents a 17.28 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. 4.00% of the stock is owned by corporate insiders.

Corbus Pharmaceuticals Price Performance

Shares of NASDAQ CRBP opened at $17.64 on Thursday. The firm’s 50-day moving average is $18.91 and its two-hundred day moving average is $39.99. Corbus Pharmaceuticals Holdings, Inc. has a 12-month low of $4.06 and a 12-month high of $61.90. The company has a market capitalization of $214.86 million, a PE ratio of -3.76 and a beta of 2.56.

About Corbus Pharmaceuticals

Corbus Pharmaceuticals Holdings, Inc, a biopharmaceutical company, develops products to defeat serious illness. It develops CRB-701, an antibody drug conjugate (ADC) that targets the expression of Nectin-4 on cancer cells to release a cytotoxic payload of monomethyl auristatin E (MMAE), which is in Phase I clinical trial; CRB-601, an anti-integrin monoclonal antibody that blocks the activation of TGFß expressed on cancer cells for the treatment of solid tumors; CRB-913, a peripherally restricted cannabinoid type-1 (CB1) receptor inverse agonist for the treatment of obesity.