Short Interest in Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) Expands By 17.8%

Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) was the target of a large increase in short interest in March. As of March 31st, there was short interest totalling 475,600 shares, an increase of 17.8% from the March 15th total of 403,800 shares. Based on an average trading volume of 912,800 shares, the days-to-cover ratio is presently 0.5 days. Approximately 4.6% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Oppenheimer reaffirmed an “outperform” rating and issued a $58.00 target price (up previously from $51.00) on shares of Corbus Pharmaceuticals in a research report on Wednesday, March 13th. Jefferies Financial Group raised Corbus Pharmaceuticals from a “hold” rating to a “buy” rating and raised their target price for the stock from $4.00 to $46.00 in a research report on Wednesday, March 6th. Finally, StockNews.com upgraded Corbus Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Wednesday, February 28th.

Insider Transactions at Corbus Pharmaceuticals

In related news, major shareholder Cormorant Asset Management, Lp acquired 750,000 shares of Corbus Pharmaceuticals stock in a transaction dated Friday, February 2nd. The stock was acquired at an average cost of $19.00 per share, with a total value of $14,250,000.00. Following the purchase, the insider now directly owns 1,475,000 shares in the company, valued at approximately $28,025,000. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders purchased a total of 1,282,632 shares of company stock valued at $33,374,556 in the last three months. 6.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Corbus Pharmaceuticals

Several institutional investors have recently bought and sold shares of the stock. Royal Bank of Canada raised its holdings in Corbus Pharmaceuticals by 1,576.6% during the fourth quarter. Royal Bank of Canada now owns 22,098 shares of the biopharmaceutical company’s stock valued at $134,000 after buying an additional 20,780 shares in the last quarter. BlackRock Inc. grew its position in Corbus Pharmaceuticals by 13.6% during the second quarter. BlackRock Inc. now owns 81,964 shares of the biopharmaceutical company’s stock worth $643,000 after buying an additional 9,807 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Corbus Pharmaceuticals by 131.0% during the second quarter. Dimensional Fund Advisors LP now owns 31,600 shares of the biopharmaceutical company’s stock worth $248,000 after buying an additional 17,919 shares in the last quarter. Two Sigma Investments LP grew its position in Corbus Pharmaceuticals by 366.7% during the fourth quarter. Two Sigma Investments LP now owns 570,168 shares of the biopharmaceutical company’s stock worth $63,000 after buying an additional 448,002 shares in the last quarter. Finally, Renaissance Technologies LLC grew its position in Corbus Pharmaceuticals by 40.6% during the second quarter. Renaissance Technologies LLC now owns 1,626,860 shares of the biopharmaceutical company’s stock worth $410,000 after buying an additional 469,669 shares in the last quarter. 64.64% of the stock is currently owned by institutional investors.

Corbus Pharmaceuticals Trading Up 4.6 %

Shares of NASDAQ:CRBP opened at $42.72 on Tuesday. Corbus Pharmaceuticals has a 1 year low of $3.03 and a 1 year high of $49.87. The business has a fifty day simple moving average of $34.07 and a 200 day simple moving average of $16.66. The firm has a market cap of $448.86 million, a price-to-earnings ratio of -4.12 and a beta of 2.46.

Corbus Pharmaceuticals (NASDAQ:CRBP) last posted its earnings results on Tuesday, March 12th. The biopharmaceutical company reported ($1.81) earnings per share for the quarter, beating the consensus estimate of ($2.36) by $0.55. On average, sell-side analysts forecast that Corbus Pharmaceuticals will post -5.21 EPS for the current year.

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, an endocannabinoid small molecule drug for the treatment of obesity and related metabolic diseases; and lenabasum, an oral molecule that selectively activates cannabinoid receptor type 2 (CB2), which is in Phase II clinical trial or the treatment of inflammation and fibrosis.