Walleye Capital LLC Sells 113,428 Shares of Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP)

Walleye Capital LLC cut its holdings in shares of Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP - Free Report) by 75.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 36,963 shares of the biopharmaceutical company's stock after selling 113,428 shares during the quarter. Walleye Capital LLC owned 0.30% of Corbus Pharmaceuticals worth $763,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in CRBP. Darwin Global Management Ltd. bought a new position in Corbus Pharmaceuticals during the 2nd quarter worth approximately $14,267,000. Vanguard Group Inc. grew its holdings in shares of Corbus Pharmaceuticals by 143.7% in the first quarter. Vanguard Group Inc. now owns 437,264 shares of the biopharmaceutical company's stock worth $17,158,000 after purchasing an additional 257,808 shares during the last quarter. Integral Health Asset Management LLC purchased a new position in shares of Corbus Pharmaceuticals in the second quarter worth $4,525,000. Charles Schwab Investment Management Inc. raised its holdings in Corbus Pharmaceuticals by 224.7% during 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 last quarter. Finally, HighVista Strategies LLC bought a new stake in Corbus Pharmaceuticals in the 2nd quarter worth $1,755,000. 64.64% of the stock is currently owned by institutional investors.

Insider Transactions at Corbus Pharmaceuticals

In other news, major shareholder Cormorant Asset Management, Lp bought 350,000 shares of the firm's stock in a transaction on Friday, September 20th. The stock was acquired at an average cost of $20.01 per share, with a total value of $7,003,500.00. Following the completion of the acquisition, the insider now owns 2,375,000 shares of the company's stock, valued at approximately $47,523,750. This represents a 17.28 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 4.00% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Royal Bank of Canada reaffirmed an "outperform" rating and set a $82.00 price objective on shares of Corbus Pharmaceuticals in a research note on Friday, September 20th. StockNews.com lowered Corbus Pharmaceuticals from a "hold" rating to a "sell" rating in a research report on Saturday, August 10th. HC Wainwright restated a "buy" rating and set a $80.00 target price on shares of Corbus Pharmaceuticals in a report on Monday, September 23rd. B. Riley cut their price target on shares of Corbus Pharmaceuticals from $85.00 to $40.00 and set a "buy" rating on the stock in a report on Friday, September 20th. Finally, Lifesci Capital raised shares of Corbus Pharmaceuticals to a "strong-buy" rating in a research report on Wednesday, August 21st. One analyst has rated the stock with a sell rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $62.00.

Corbus Pharmaceuticals Price Performance

NASDAQ:CRBP traded down $0.04 during mid-day trading on Friday, hitting $15.26. 334,547 shares of the company's stock were exchanged, compared to its average volume of 282,101. Corbus Pharmaceuticals Holdings, Inc. has a one year low of $4.94 and a one year high of $61.90. The business has a fifty day moving average price of $17.80 and a 200 day moving average price of $38.60. The company has a market cap of $185.87 million, a PE ratio of -3.25 and a beta of 2.57.

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.