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

Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) saw a large 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. Currently, 6.0% of the company’s shares are short sold. Based on an average trading volume of 244,900 shares, the days-to-cover ratio is presently 2.5 days.

Insider Activity

In related news, CFO Sean F. Moran sold 1,958 shares of the stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $42.12, for a total transaction of $82,470.96. Following the completion of the sale, the chief financial officer now owns 48,605 shares of the company’s stock, valued at approximately $2,047,242.60. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CFO Sean F. Moran sold 1,958 shares of the stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $42.12, for a total transaction of $82,470.96. Following the completion of the sale, the chief financial officer now owns 48,605 shares of the company’s stock, valued at approximately $2,047,242.60. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Yuval Cohen sold 29,317 shares of the stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $50.17, for a total transaction of $1,470,833.89. Following the completion of the sale, the chief executive officer now directly 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 valued at $2,530,799 in the last 90 days. 4.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Corbus Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of CRBP. Vanguard Group Inc. boosted its position in Corbus Pharmaceuticals by 143.7% during 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 period. Price T Rowe Associates Inc. MD acquired a new stake in Corbus Pharmaceuticals during the 1st quarter worth about $7,554,000. Janus Henderson Group PLC acquired a new stake in Corbus Pharmaceuticals during the 1st quarter worth about $13,363,000. Ikarian Capital LLC lifted its holdings in shares of Corbus Pharmaceuticals by 185.5% during the 1st quarter. Ikarian Capital LLC now owns 559,271 shares of the biopharmaceutical company’s stock valued at $21,946,000 after buying an additional 363,372 shares during the last quarter. Finally, Altitude Crest Partners Inc. acquired a new stake in shares of Corbus Pharmaceuticals during the 1st quarter valued at about $4,069,000. Institutional investors and hedge funds own 64.64% of the company’s stock.

Corbus Pharmaceuticals Price Performance

Shares of CRBP traded up $1.37 during trading hours on Friday, reaching $45.25. 1,774,755 shares of the company’s stock traded hands, compared to its average volume of 286,201. Corbus Pharmaceuticals has a twelve month low of $3.03 and a twelve month high of $55.41. The business’s fifty day simple moving average is $43.05 and its two-hundred day simple moving average is $30.70.

Corbus Pharmaceuticals (NASDAQ:CRBP) last issued its quarterly 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 analysts anticipate that Corbus Pharmaceuticals will post -5.11 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. 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 research note on Tuesday, June 11th. Jefferies Financial Group upgraded 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. B. Riley began coverage on Corbus Pharmaceuticals in a research note on Wednesday. They set a “buy” rating and a $85.00 price objective on the stock. Oppenheimer raised their price objective on Corbus Pharmaceuticals from $60.00 to $80.00 and gave the stock an “outperform” rating in a research note on Monday, June 3rd. Finally, StockNews.com cut Corbus Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Tuesday, June 4th. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $73.25.

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.