Short Interest in Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) Grows By 5.8%

Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) was the recipient of a large growth in short interest during the month of October. As of October 15th, there was short interest totalling 2,750,000 shares, a growth of 5.8% from the September 30th total of 2,600,000 shares. Approximately 23.6% of the company’s stock are sold short. Based on an average daily trading volume, of 638,700 shares, the short-interest ratio is presently 4.3 days.

Analysts Set New Price Targets

Several research firms have recently weighed in on CRBP. B. Riley lowered their price objective on shares of Corbus Pharmaceuticals from $85.00 to $40.00 and set a “buy” rating on the stock in a research note on Friday, September 20th. Royal Bank of Canada restated an “outperform” rating and set a $82.00 price objective on shares of Corbus Pharmaceuticals in a research note on Friday, September 20th. Lifesci Capital raised shares of Corbus Pharmaceuticals to a “strong-buy” rating in a report on Wednesday, August 21st. Oppenheimer lifted their target price on shares of Corbus Pharmaceuticals from $80.00 to $88.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Finally, StockNews.com downgraded shares of Corbus Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday, August 10th. One equities research analyst has rated the stock with a sell rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Corbus Pharmaceuticals has a consensus rating of “Moderate Buy” and an average price target of $65.86.

Corbus Pharmaceuticals Stock Up 2.3 %

NASDAQ CRBP opened at $16.57 on Thursday. The company has a market capitalization of $177.08 million, a P/E ratio of -2.38 and a beta of 2.53. Corbus Pharmaceuticals has a 12-month low of $3.03 and a 12-month high of $61.90. The firm has a 50-day moving average price of $34.00 and a two-hundred day moving average price of $42.90.

Corbus Pharmaceuticals (NASDAQ:CRBP) last posted its quarterly earnings data on Tuesday, August 6th. The biopharmaceutical company reported ($0.90) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.19) by $0.29. Equities analysts expect that Corbus Pharmaceuticals will post -3.8 EPS for the current year.

Insider Buying and Selling at Corbus Pharmaceuticals

In other news, major shareholder Cormorant Asset Management, Lp acquired 350,000 shares of the stock in a transaction dated Friday, September 20th. The shares were bought at an average cost of $20.01 per share, for a total transaction of $7,003,500.00. Following the purchase, the insider now directly owns 2,375,000 shares of the company’s stock, valued at approximately $47,523,750. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 4.00% of the company’s stock.

Institutional Trading of Corbus Pharmaceuticals

Institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC bought a new stake in Corbus Pharmaceuticals in the 3rd quarter valued at about $151,000. Rhumbline Advisers bought a new stake in shares of Corbus Pharmaceuticals during the 2nd quarter worth approximately $638,000. Acadian Asset Management LLC bought a new stake in shares of Corbus Pharmaceuticals during the 2nd quarter worth approximately $716,000. ClariVest Asset Management LLC bought a new stake in shares of Corbus Pharmaceuticals during the 2nd quarter worth approximately $725,000. Finally, Victory Capital Management Inc. bought a new stake in shares of Corbus Pharmaceuticals during the 2nd quarter worth approximately $862,000. Institutional investors own 64.64% of the company’s stock.

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.