12,516 Shares in Corbus Pharmaceuticals Holdings, Inc. $CRBP Acquired by Corton Capital Inc.

Corton Capital Inc. purchased a new position in shares of Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 12,516 shares of the biopharmaceutical company’s stock, valued at approximately $86,000. Corton Capital Inc. owned about 0.10% of Corbus Pharmaceuticals at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Velan Capital Investment Management LP grew its position in Corbus Pharmaceuticals by 4.1% during the 1st quarter. Velan Capital Investment Management LP now owns 59,000 shares of the biopharmaceutical company’s stock worth $313,000 after acquiring an additional 2,300 shares during the last quarter. Armistice Capital LLC lifted its holdings in Corbus Pharmaceuticals by 5.9% in the 1st quarter. Armistice Capital LLC now owns 250,000 shares of the biopharmaceutical company’s stock worth $1,328,000 after buying an additional 14,000 shares during the period. Y Intercept Hong Kong Ltd purchased a new stake in Corbus Pharmaceuticals in the 2nd quarter worth approximately $141,000. Stonepine Capital Management LLC purchased a new stake in Corbus Pharmaceuticals in the 1st quarter worth approximately $186,000. Finally, Aberdeen Group plc lifted its holdings in Corbus Pharmaceuticals by 168.6% in the 2nd quarter. Aberdeen Group plc now owns 72,226 shares of the biopharmaceutical company’s stock worth $498,000 after buying an additional 45,332 shares during the period. 64.64% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on CRBP shares. Lifesci Capital upgraded Corbus Pharmaceuticals to a “strong-buy” rating in a report on Saturday, July 12th. B. Riley upgraded Corbus Pharmaceuticals to a “strong-buy” rating and set a $28.00 price objective for the company in a report on Wednesday, July 30th. HC Wainwright reiterated a “buy” rating and issued a $40.00 price objective on shares of Corbus Pharmaceuticals in a report on Monday, October 20th. Benchmark reiterated a “reduce” rating on shares of Corbus Pharmaceuticals in a report on Monday, October 20th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $51.00 price objective on shares of Corbus Pharmaceuticals in a report on Monday, October 20th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Corbus Pharmaceuticals has a consensus rating of “Moderate Buy” and an average target price of $45.00.

Insiders Place Their Bets

In other Corbus Pharmaceuticals news, CEO Yuval Cohen sold 18,660 shares of Corbus Pharmaceuticals stock in a transaction on Friday, October 24th. The stock was sold at an average price of $17.01, for a total transaction of $317,406.60. Following the completion of the transaction, the chief executive officer owned 138,187 shares in the company, valued at approximately $2,350,560.87. The trade was a 11.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Sean F. Moran sold 12,981 shares of Corbus Pharmaceuticals stock in a transaction on Friday, October 24th. The shares were sold at an average price of $17.02, for a total value of $220,936.62. Following the transaction, the chief financial officer owned 73,313 shares of the company’s stock, valued at $1,247,787.26. The trade was a 15.04% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 41,674 shares of company stock valued at $713,870 in the last quarter. 3.60% of the stock is owned by company insiders.

Corbus Pharmaceuticals Stock Down 3.1%

CRBP opened at $10.90 on Thursday. The stock has a market cap of $133.58 million, a PE ratio of -2.29 and a beta of 2.84. The business has a 50 day moving average of $13.22 and a 200-day moving average of $9.98. Corbus Pharmaceuticals Holdings, Inc. has a 52 week low of $4.64 and a 52 week high of $20.77.

Corbus Pharmaceuticals (NASDAQ:CRBP) last announced its quarterly earnings data on Tuesday, August 5th. The biopharmaceutical company reported ($1.44) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.55) by $0.11. Equities analysts anticipate that Corbus Pharmaceuticals Holdings, Inc. will post -4.23 EPS for the current year.

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.