Wexford Capital LP Sells 23,535 Shares of Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP)

Wexford Capital LP cut its holdings in Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) by 34.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 45,021 shares of the biopharmaceutical company’s stock after selling 23,535 shares during the period. Wexford Capital LP owned approximately 0.37% of Corbus Pharmaceuticals worth $531,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its stake in shares of Corbus Pharmaceuticals by 27.0% during the third quarter. JPMorgan Chase & Co. now owns 5,507 shares of the biopharmaceutical company’s stock valued at $114,000 after acquiring an additional 1,172 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Corbus Pharmaceuticals by 4.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 97,882 shares of the biopharmaceutical company’s stock valued at $1,155,000 after acquiring an additional 4,239 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of Corbus Pharmaceuticals by 769.4% during the fourth quarter. Renaissance Technologies LLC now owns 139,100 shares of the biopharmaceutical company’s stock valued at $1,641,000 after buying an additional 123,100 shares during the period. Geode Capital Management LLC increased its position in shares of Corbus Pharmaceuticals by 5.5% during the fourth 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 during the period. Finally, Altium Capital Management LLC increased its position in shares of 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 buying an additional 190,000 shares during the period. 64.64% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. StockNews.com upgraded shares of Corbus Pharmaceuticals to a “sell” rating in a research report on Thursday, March 6th. Royal Bank of Canada reduced their price target on shares of Corbus Pharmaceuticals from $65.00 to $58.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 7th. Wedbush restated an “outperform” rating and issued a $51.00 price objective on shares of Corbus Pharmaceuticals in a report on Wednesday, March 12th. HC Wainwright cut their price objective on shares of Corbus Pharmaceuticals from $50.00 to $40.00 and set a “buy” rating on the stock in a report on Wednesday, May 7th. Finally, William Blair initiated coverage on shares of Corbus Pharmaceuticals in a report on Friday, February 28th. They issued an “outperform” rating on the stock. One analyst has rated the stock with a sell rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Corbus Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus price target of $50.88.

Corbus Pharmaceuticals Trading Up 1.8%

CRBP opened at $7.34 on Monday. Corbus Pharmaceuticals Holdings, Inc. has a 1-year low of $4.64 and a 1-year high of $61.90. The company has a market capitalization of $89.82 million, a PE ratio of -1.57 and a beta of 3.19. The firm’s 50 day simple moving average is $6.36 and its two-hundred day simple moving average is $10.45.

Corbus Pharmaceuticals (NASDAQ:CRBP) last released its quarterly earnings results on Tuesday, May 6th. The biopharmaceutical company reported ($1.39) earnings per share for the quarter, missing the consensus estimate of ($1.26) by ($0.13). Equities analysts forecast that Corbus Pharmaceuticals Holdings, Inc. will post -4.23 earnings per share for the current fiscal 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.