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

Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) was the recipient of a significant increase in short interest during the month of 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 daily volume of 244,900 shares, the short-interest ratio is presently 2.5 days. Approximately 6.0% of the shares of the company are sold short.

Wall Street Analyst Weigh In

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

Corbus Pharmaceuticals Stock Up 3.1 %

Shares of Corbus Pharmaceuticals stock traded up $1.37 on Friday, hitting $45.25. 1,774,240 shares of the company traded hands, compared to its average volume of 603,495. Corbus Pharmaceuticals has a 12-month low of $3.03 and a 12-month high of $55.41. The company has a 50-day moving average price of $43.05 and a 200 day moving average price of $30.53. The company has a market cap of $483.72 million, a PE ratio of -6.50 and a beta of 2.52.

Corbus Pharmaceuticals (NASDAQ:CRBP) last issued its earnings results on Tuesday, May 7th. The biopharmaceutical company reported ($0.83) EPS for the quarter, beating analysts’ consensus estimates of ($1.09) by $0.26. Equities research analysts anticipate that Corbus Pharmaceuticals will post -5.86 EPS for the current year.

Insider Buying and Selling at Corbus Pharmaceuticals

In other Corbus Pharmaceuticals news, CEO Yuval Cohen sold 29,317 shares of the firm’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $50.17, for a total value of $1,470,833.89. Following the sale, the chief executive officer now directly owns 84,400 shares in the company, valued at $4,234,348. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Corbus Pharmaceuticals news, CFO Sean F. Moran sold 1,958 shares of the stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $42.12, for a total transaction of $82,470.96. Following the completion of the transaction, the chief financial officer now directly owns 48,605 shares of the company’s stock, valued at approximately $2,047,242.60. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Yuval Cohen sold 29,317 shares of the company’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $50.17, for a total value of $1,470,833.89. Following the completion of the sale, the chief executive officer now owns 84,400 shares of the company’s stock, valued at approximately $4,234,348. 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 90 days. Insiders own 4.00% of the company’s stock.

Hedge Funds Weigh In On Corbus Pharmaceuticals

A number of hedge funds have recently added to or reduced their stakes in CRBP. Assenagon Asset Management S.A. acquired a new stake in Corbus Pharmaceuticals in the first quarter valued at approximately $10,181,000. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Corbus Pharmaceuticals during the 1st quarter valued at $976,000. Vanguard Group Inc. lifted its stake 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 valued at $17,158,000 after purchasing an additional 257,808 shares during the last quarter. Altitude Crest Partners Inc. bought a new stake in Corbus Pharmaceuticals in the first quarter worth $4,069,000. Finally, Price T Rowe Associates Inc. MD acquired a new position in Corbus Pharmaceuticals during the first quarter worth $7,554,000. Institutional investors and hedge funds 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.