Millennium Management LLC decreased its holdings in shares of Corbus Pharmaceuticals (NASDAQ:CRBP) by 34.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 563,657 shares of the biopharmaceutical company’s stock after selling 295,289 shares during the quarter. Millennium Management LLC owned 1.01% of Corbus Pharmaceuticals worth $4,002,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Schwab Charles Investment Management Inc. raised its stake in Corbus Pharmaceuticals by 30.4% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 96,873 shares of the biopharmaceutical company’s stock worth $688,000 after acquiring an additional 22,573 shares in the last quarter. GSA Capital Partners LLP raised its stake in Corbus Pharmaceuticals by 71.4% during the third quarter. GSA Capital Partners LLP now owns 100,800 shares of the biopharmaceutical company’s stock worth $721,000 after acquiring an additional 42,000 shares in the last quarter. Artal Group S.A. raised its stake in Corbus Pharmaceuticals by 166.7% during the fourth quarter. Artal Group S.A. now owns 400,000 shares of the biopharmaceutical company’s stock worth $2,840,000 after acquiring an additional 250,000 shares in the last quarter. Virtus Fund Advisers LLC acquired a new position in Corbus Pharmaceuticals during the fourth quarter worth about $337,000. Finally, Bank of New York Mellon Corp raised its stake in Corbus Pharmaceuticals by 9.7% during the third quarter. Bank of New York Mellon Corp now owns 150,135 shares of the biopharmaceutical company’s stock worth $1,073,000 after acquiring an additional 13,323 shares in the last quarter. 37.01% of the stock is owned by hedge funds and other institutional investors.
In other news, Director David P. Hochman acquired 5,000 shares of the stock in a transaction dated Wednesday, March 14th. The stock was bought at an average price of $6.67 per share, with a total value of $33,350.00. Following the completion of the purchase, the director now directly owns 459,500 shares of the company’s stock, valued at approximately $3,064,865. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders bought 12,145 shares of company stock valued at $81,680 in the last ninety days. 11.90% of the stock is currently owned by insiders.
Corbus Pharmaceuticals stock opened at $6.75 on Friday. Corbus Pharmaceuticals has a 1 year low of $5.30 and a 1 year high of $9.95. The company has a market capitalization of $379.98, a PE ratio of -10.38 and a beta of 2.23.
Corbus Pharmaceuticals (NASDAQ:CRBP) last released its quarterly earnings data on Monday, March 12th. The biopharmaceutical company reported ($0.20) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.16) by ($0.04). Corbus Pharmaceuticals had a negative net margin of 1,040.41% and a negative return on equity of 75.88%. analysts expect that Corbus Pharmaceuticals will post -0.81 EPS for the current fiscal year.
CRBP has been the subject of several research analyst reports. Noble Financial reissued a “buy” rating on shares of Corbus Pharmaceuticals in a research note on Saturday, December 23rd. BidaskClub raised Corbus Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Friday, December 29th. Raymond James initiated coverage on Corbus Pharmaceuticals in a research note on Friday, January 19th. They set an “outperform” rating and a $24.00 target price for the company. ValuEngine raised Corbus Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Thursday, March 1st. Finally, Cantor Fitzgerald set a $32.00 target price on Corbus Pharmaceuticals and gave the stock a “buy” rating in a research note on Monday, March 12th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $25.33.
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Corbus Pharmaceuticals Company Profile
Corbus Pharmaceuticals Holdings, Inc, a clinical stage pharmaceutical company, focuses on the development and commercialization of various therapeutic products to treat inflammatory and fibrotic diseases. The company's lead product candidate is lenabasum, a synthetic oral endocannabinoid-mimetic drug that is in Phase III clinical trials for the treatment of systemic sclerosis, cystic fibrosis, dermatomyositis, and systemic lupus erythematosus diseases.
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