Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP – Get Free Report) 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 – Get Free Report) 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
Read Our Latest Report on CRBP
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.
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