Charles Schwab Investment Management Inc. Buys 64,800 Shares of Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP)

Charles Schwab Investment Management Inc. boosted its position in shares of Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP - Free Report) by 224.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 93,643 shares of the biopharmaceutical company's stock after acquiring an additional 64,800 shares during the period. Charles Schwab Investment Management Inc. owned 0.78% of Corbus Pharmaceuticals worth $1,932,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. SG Americas Securities LLC bought a new position in Corbus Pharmaceuticals during the third quarter worth $151,000. Victory Capital Management Inc. grew its position in Corbus Pharmaceuticals by 29.9% in the 3rd quarter. Victory Capital Management Inc. now owns 24,760 shares of the biopharmaceutical company's stock worth $511,000 after purchasing an additional 5,700 shares during the last quarter. abrdn plc increased its holdings in shares of Corbus Pharmaceuticals by 422.9% during the 3rd quarter. abrdn plc now owns 26,894 shares of the biopharmaceutical company's stock worth $555,000 after purchasing an additional 21,751 shares during the period. Rhumbline Advisers bought a new stake in shares of Corbus Pharmaceuticals in the second quarter valued at about $638,000. Finally, Acadian Asset Management LLC bought a new stake in shares of Corbus Pharmaceuticals in the second quarter valued at about $716,000. 64.64% of the stock is currently owned by institutional investors.

Corbus Pharmaceuticals Trading Up 0.1 %

NASDAQ:CRBP traded up $0.01 on Tuesday, hitting $14.29. The company's stock had a trading volume of 308,450 shares, compared to its average volume of 545,039. Corbus Pharmaceuticals Holdings, Inc. has a one year low of $5.09 and a one year high of $61.90. The stock has a fifty day moving average of $17.27 and a two-hundred day moving average of $37.38. The firm has a market capitalization of $174.04 million, a P/E ratio of -3.04 and a beta of 2.57.

Wall Street Analysts Forecast Growth

CRBP has been the subject of a number of recent research reports. Royal Bank of Canada restated an "outperform" rating and issued a $82.00 target price on shares of Corbus Pharmaceuticals in a research note on Friday, September 20th. Wedbush reaffirmed an "outperform" rating and set a $51.00 price objective on shares of Corbus Pharmaceuticals in a report on Monday, November 4th. Lifesci Capital raised shares of Corbus Pharmaceuticals to a "strong-buy" rating in a research note on Wednesday, August 21st. Mizuho reissued an "outperform" rating and issued a $74.00 price target on shares of Corbus Pharmaceuticals in a research report on Friday, September 20th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $80.00 price objective on shares of Corbus Pharmaceuticals in a report on Monday, September 23rd. One research analyst has rated the stock with a sell rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Corbus Pharmaceuticals has an average rating of "Moderate Buy" and a consensus target price of $62.00.

Insider Activity

In related news, major shareholder Cormorant Asset Management, Lp bought 350,000 shares of the business's stock in a transaction dated Friday, September 20th. The stock was purchased at an average cost of $20.01 per share, for a total transaction of $7,003,500.00. Following the transaction, the insider now owns 2,375,000 shares in the company, valued at $47,523,750. The trade was a 17.28 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.00% of the stock is owned by company insiders.

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.