Acuta Capital Partners LLC Reduces Stock Holdings in Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP)

Acuta Capital Partners LLC decreased its position in shares of Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP - Free Report) by 71.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,500 shares of the biopharmaceutical company's stock after selling 46,000 shares during the quarter. Acuta Capital Partners LLC owned 0.15% of Corbus Pharmaceuticals worth $382,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. MetLife Investment Management LLC purchased a new stake in shares of Corbus Pharmaceuticals in the 3rd quarter valued at $123,000. FMR LLC boosted its holdings in Corbus Pharmaceuticals by 33.0% in the third quarter. FMR LLC now owns 10,028 shares of the biopharmaceutical company's stock valued at $207,000 after purchasing an additional 2,486 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Corbus Pharmaceuticals by 7.6% during the 3rd 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 during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Corbus Pharmaceuticals by 224.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 93,643 shares of the biopharmaceutical company's stock valued at $1,932,000 after buying an additional 64,800 shares during the period. Finally, HealthInvest Partners AB boosted its stake in shares of Corbus Pharmaceuticals by 77.9% in the third quarter. HealthInvest Partners AB now owns 69,573 shares of the biopharmaceutical company's stock worth $1,435,000 after buying an additional 30,473 shares during the last quarter. Hedge funds and other institutional investors own 64.64% of the company's stock.

Insider Buying and Selling

In other Corbus Pharmaceuticals news, major shareholder Cormorant Asset Management, Lp acquired 350,000 shares of the business's stock in a transaction on Friday, September 20th. The stock was bought at an average price of $20.01 per share, for a total transaction of $7,003,500.00. Following the acquisition, the insider now owns 2,375,000 shares in the company, valued at approximately $47,523,750. The trade was a 17.28 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 4.00% of the stock is owned by company insiders.

Corbus Pharmaceuticals Price Performance

CRBP stock traded down $0.34 during trading on Thursday, hitting $17.64. The stock had a trading volume of 155,488 shares, compared to its average volume of 558,834. The company's 50-day moving average price is $18.91 and its two-hundred day moving average price is $39.99. Corbus Pharmaceuticals Holdings, Inc. has a twelve month low of $4.06 and a twelve month high of $61.90. The stock has a market capitalization of $214.86 million, a P/E ratio of -3.76 and a beta of 2.56.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Lifesci Capital upgraded Corbus Pharmaceuticals to a "strong-buy" rating in a research report on Wednesday, August 21st. Oppenheimer boosted their target price on shares of Corbus Pharmaceuticals from $80.00 to $88.00 and gave the company an "outperform" rating in a research note on Wednesday, August 7th. StockNews.com lowered shares of Corbus Pharmaceuticals from a "hold" rating to a "sell" rating in a research report on Saturday, August 10th. Mizuho reissued an "outperform" rating and set a $74.00 target price on shares of Corbus Pharmaceuticals in a research note on Friday, September 20th. Finally, Wedbush restated an "outperform" rating and issued a $51.00 price target on shares of Corbus Pharmaceuticals in a research note on Monday, November 4th. One analyst has rated the stock with a sell rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $65.86.

Corbus Pharmaceuticals Profile

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.