Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) Shares Bought by Millennium Management LLC

Millennium Management LLC lifted its position in Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP - Free Report) by 215.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 386,653 shares of the biopharmaceutical company's stock after buying an additional 263,902 shares during the quarter. Millennium Management LLC owned approximately 3.17% of Corbus Pharmaceuticals worth $4,563,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Altium Capital Management LLC lifted its position in Corbus Pharmaceuticals by 97.4% during the fourth quarter. Altium Capital Management LLC now owns 385,000 shares of the biopharmaceutical company's stock valued at $4,543,000 after purchasing an additional 190,000 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Corbus Pharmaceuticals by 5.5% during the 4th quarter. Geode Capital Management LLC now owns 263,532 shares of the biopharmaceutical company's stock valued at $3,110,000 after buying an additional 13,773 shares in the last quarter. Renaissance Technologies LLC lifted its position in Corbus Pharmaceuticals by 769.4% in the 4th quarter. Renaissance Technologies LLC now owns 139,100 shares of the biopharmaceutical company's stock worth $1,641,000 after buying an additional 123,100 shares during the last quarter. Northern Trust Corp boosted its stake in Corbus Pharmaceuticals by 12.4% in the fourth quarter. Northern Trust Corp now owns 103,264 shares of the biopharmaceutical company's stock worth $1,219,000 after buying an additional 11,400 shares in the last quarter. Finally, HealthInvest Partners AB boosted its stake in Corbus Pharmaceuticals by 41.3% in the fourth quarter. HealthInvest Partners AB now owns 98,304 shares of the biopharmaceutical company's stock worth $1,188,000 after buying an additional 28,731 shares in the last quarter. 64.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on CRBP shares. Wedbush restated an "outperform" rating and set a $51.00 price target on shares of Corbus Pharmaceuticals in a research report on Wednesday, March 12th. Jefferies Financial Group dropped their target price on Corbus Pharmaceuticals from $70.00 to $53.00 and set a "buy" rating for the company in a report on Tuesday, March 11th. Wall Street Zen raised Corbus Pharmaceuticals to a "sell" rating in a research note on Thursday, March 6th. Royal Bank of Canada lowered their price objective on Corbus Pharmaceuticals from $65.00 to $58.00 and set an "outperform" rating for the company in a research report on Wednesday, May 7th. Finally, B. Riley restated a "buy" rating on shares of Corbus Pharmaceuticals in a report on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Corbus Pharmaceuticals presently has a consensus rating of "Moderate Buy" and an average target price of $50.88.

Corbus Pharmaceuticals Stock Performance

NASDAQ CRBP traded down $0.31 on Friday, reaching $7.31. 94,402 shares of the stock traded hands, compared to its average volume of 355,891. Corbus Pharmaceuticals Holdings, Inc. has a 12 month low of $4.64 and a 12 month high of $61.90. The company has a market cap of $89.45 million, a price-to-earnings ratio of -1.56 and a beta of 3.19. The company has a fifty day moving average price of $6.56 and a 200-day moving average price of $9.88.

Corbus Pharmaceuticals (NASDAQ:CRBP - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The biopharmaceutical company reported ($1.39) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.26) by ($0.13). As a group, research analysts anticipate that Corbus Pharmaceuticals Holdings, Inc. will post -4.23 earnings per share for the current fiscal year.

Corbus Pharmaceuticals Company 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.