Corbus Pharmaceuticals Holdings Inc. (NASDAQ:CRBP) shot up 12.9% during mid-day trading on Monday following insider buying activity. The company traded as high as $8.30 and last traded at $7.85, with a volume of 1,862,768 shares. The stock had previously closed at $6.95.

Specifically, CFO Sean F. Moran acquired 17,900 shares of the business’s stock in a transaction dated Friday, August 26th. The stock was bought at an average price of $3.92 per share, with a total value of $70,168.00. Following the completion of the acquisition, the chief financial officer now owns 299,310 shares of the company’s stock, valued at $1,173,295.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Sean F. Moran acquired 30,800 shares of the business’s stock in a transaction dated Thursday, September 8th. The shares were acquired at an average cost of $5.12 per share, with a total value of $157,696.00. Following the acquisition, the chief financial officer now directly owns 330,110 shares of the company’s stock, valued at approximately $1,690,163.20. The disclosure for this purchase can be found here. Insiders own 11.60% of the company’s stock.

Several brokerages have recently commented on CRBP. Cantor Fitzgerald reissued a “buy” rating and set a $17.00 price objective on shares of Corbus Pharmaceuticals Holdings in a report on Tuesday, November 15th. JMP Securities boosted their target price on Corbus Pharmaceuticals Holdings from $9.00 to $20.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 15th. Aegis restated a “buy” rating on shares of Corbus Pharmaceuticals Holdings in a research report on Monday, November 14th. Finally, Noble Financial restated a “buy” rating and issued a $19.00 target price on shares of Corbus Pharmaceuticals Holdings in a research report on Friday, November 11th.

The firm has a 50 day moving average price of $7.27 and a 200-day moving average price of $4.60. The stock’s market capitalization is $348.83 million.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Bainco International Investors purchased a new position in Corbus Pharmaceuticals Holdings during the third quarter worth $136,000. Knoll Capital Management LP purchased a new position in Corbus Pharmaceuticals Holdings during the third quarter worth $16,717,000. Fosun International Ltd purchased a new position in Corbus Pharmaceuticals Holdings during the third quarter worth $4,753,000. Morgan Stanley increased its position in Corbus Pharmaceuticals Holdings by 12.4% in the third quarter. Morgan Stanley now owns 29,909 shares of the biopharmaceutical company’s stock worth $203,000 after buying an additional 3,300 shares in the last quarter. Finally, Northern Trust Corp increased its position in Corbus Pharmaceuticals Holdings by 41.0% in the third quarter. Northern Trust Corp now owns 45,436 shares of the biopharmaceutical company’s stock worth $309,000 after buying an additional 13,222 shares in the last quarter. 25.47% of the stock is currently owned by institutional investors.

About Corbus Pharmaceuticals Holdings

Corbus Pharmaceuticals Holdings, Inc is a clinical-stage pharmaceutical company. The Company is focused on the development and commercialization of therapeutics to treat rare or uncommon chronic and serious inflammatory and fibrotic diseases. The Company’s segment is developing and commercializing therapeutics to treat rare life-threatening inflammatory fibrotic diseases.

5 Day Chart for NASDAQ:CRBP

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