Charles Schwab Investment Management Inc. Boosts Stock Position in Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP)

Charles Schwab Investment Management Inc. grew its position in Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) by 224.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 93,643 shares of the biopharmaceutical company’s stock after purchasing an additional 64,800 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.78% of Corbus Pharmaceuticals worth $1,932,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. SG Americas Securities LLC acquired a new position in Corbus Pharmaceuticals during the third quarter valued at $151,000. Rhumbline Advisers purchased a new stake in Corbus Pharmaceuticals during the second quarter worth $638,000. Acadian Asset Management LLC acquired a new stake in Corbus Pharmaceuticals during the second quarter valued at $716,000. ClariVest Asset Management LLC purchased a new position in Corbus Pharmaceuticals in the second quarter valued at $725,000. Finally, Victory Capital Management Inc. acquired a new position in shares of Corbus Pharmaceuticals in the second quarter worth about $862,000. 64.64% of the stock is currently owned by hedge funds and other institutional investors.

Corbus Pharmaceuticals Stock Performance

Shares of CRBP stock opened at $14.28 on Tuesday. Corbus Pharmaceuticals Holdings, Inc. has a fifty-two week low of $5.09 and a fifty-two week high of $61.90. The stock’s fifty day moving average is $17.37 and its two-hundred day moving average is $37.57. The firm has a market capitalization of $173.92 million, a P/E ratio of -3.04 and a beta of 2.57.

Analyst Ratings Changes

A number of equities research analysts have recently commented on CRBP shares. Wedbush restated an “outperform” rating and set a $51.00 target price on shares of Corbus Pharmaceuticals in a research report on Monday, November 4th. B. Riley dropped their price objective on Corbus Pharmaceuticals from $85.00 to $40.00 and set a “buy” rating on the stock in a report on Friday, September 20th. Mizuho restated an “outperform” rating and issued a $74.00 price objective on shares of Corbus Pharmaceuticals in a research report on Friday, September 20th. HC Wainwright reiterated a “buy” rating and set a $80.00 target price on shares of Corbus Pharmaceuticals in a research report on Monday, September 23rd. Finally, Piper Sandler assumed coverage on shares of Corbus Pharmaceuticals in a report on Monday, December 2nd. They issued an “overweight” rating and a $35.00 price target for the company. One research analyst has rated the stock with a sell rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Corbus Pharmaceuticals currently has an average rating of “Moderate Buy” and an average price target of $62.00.

Insider Buying and Selling

In other news, major shareholder Cormorant Asset Management, Lp acquired 350,000 shares of the company’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 completion of the acquisition, 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. 4.00% of the stock is currently owned by company insiders.

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.