Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) Short Interest Up 69.0% in June

Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) saw a significant increase in short interest in June. As of June 15th, there was short interest totalling 623,900 shares, an increase of 69.0% from the May 31st total of 369,100 shares. Based on an average trading volume of 244,900 shares, the short-interest ratio is presently 2.5 days. Currently, 6.0% of the company’s stock are short sold.

Corbus Pharmaceuticals Stock Up 3.1 %

Shares of CRBP stock traded up $1.37 on Friday, reaching $45.25. 1,774,755 shares of the company were exchanged, compared to its average volume of 286,201. The business has a 50-day moving average price of $43.05 and a 200 day moving average price of $30.70. Corbus Pharmaceuticals has a 1 year low of $3.03 and a 1 year high of $55.41.

Corbus Pharmaceuticals (NASDAQ:CRBP) last announced its quarterly earnings data on Tuesday, May 7th. The biopharmaceutical company reported ($0.83) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.09) by $0.26. Equities analysts forecast that Corbus Pharmaceuticals will post -5.11 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on CRBP shares. Royal Bank of Canada lifted their price objective on shares of Corbus Pharmaceuticals from $77.00 to $82.00 and gave the company an “outperform” rating in a report on Tuesday, June 11th. Jefferies Financial Group raised shares of Corbus Pharmaceuticals from a “hold” rating to a “buy” rating and lifted their price objective for the company from $4.00 to $46.00 in a report on Wednesday, March 6th. StockNews.com cut shares of Corbus Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Tuesday, June 4th. Oppenheimer lifted their price objective on shares of Corbus Pharmaceuticals from $60.00 to $80.00 and gave the company an “outperform” rating in a report on Monday, June 3rd. Finally, B. Riley started coverage on shares of Corbus Pharmaceuticals in a research note on Wednesday. They set a “buy” rating and a $85.00 target price for the company. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $73.25.

Insider Buying and Selling at Corbus Pharmaceuticals

In other Corbus Pharmaceuticals news, CFO Sean F. Moran sold 9,355 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $49.87, for a total value of $466,533.85. Following the completion of the sale, the chief financial officer now directly owns 48,605 shares in the company, valued at $2,423,931.35. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CFO Sean F. Moran sold 9,355 shares of the firm’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $49.87, for a total transaction of $466,533.85. Following the completion of the transaction, the chief financial officer now owns 48,605 shares of the company’s stock, valued at $2,423,931.35. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Yuval Cohen sold 11,103 shares of the firm’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $46.02, for a total transaction of $510,960.06. Following the transaction, the chief executive officer now directly owns 84,400 shares of the company’s stock, valued at approximately $3,884,088. The disclosure for this sale can be found here. Insiders sold a total of 51,733 shares of company stock worth $2,530,799 over the last three months. Corporate insiders own 4.00% of the company’s stock.

Institutional Trading of Corbus Pharmaceuticals

Several large investors have recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Corbus Pharmaceuticals in the 1st quarter valued at approximately $976,000. Altitude Crest Partners Inc. acquired a new position in shares of Corbus Pharmaceuticals in the 1st quarter worth approximately $4,069,000. Price T Rowe Associates Inc. MD acquired a new position in shares of Corbus Pharmaceuticals in the 1st quarter worth approximately $7,554,000. Vanguard Group Inc. lifted its holdings in shares of Corbus Pharmaceuticals by 143.7% in the 1st quarter. Vanguard Group Inc. now owns 437,264 shares of the biopharmaceutical company’s stock worth $17,158,000 after acquiring an additional 257,808 shares during the last quarter. Finally, Assenagon Asset Management S.A. acquired a new position in shares of Corbus Pharmaceuticals in the 1st quarter worth approximately $10,181,000. Hedge funds and other 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.