Corbus Pharmaceuticals Holdings Inc (NASDAQ:CRBP) Short Interest Update

Corbus Pharmaceuticals Holdings Inc (NASDAQ:CRBP) was the recipient of a large growth in short interest during the month of March. As of March 15th, there was short interest totalling 16,134,416 shares, a growth of 23.5% from the February 28th total of 13,065,394 shares. Based on an average trading volume of 2,586,197 shares, the short-interest ratio is presently 6.2 days. Currently, 27.3% of the company’s shares are short sold.

A number of equities analysts recently weighed in on CRBP shares. ValuEngine cut Corbus Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 28th. Cantor Fitzgerald reiterated a “buy” rating and set a $38.00 price objective on shares of Corbus Pharmaceuticals in a research note on Tuesday, March 12th. HC Wainwright reiterated a “buy” rating and set a $24.00 price objective on shares of Corbus Pharmaceuticals in a research note on Friday, January 4th. Zacks Investment Research upgraded Corbus Pharmaceuticals from a “hold” rating to a “buy” rating and set a $8.50 price objective for the company in a research report on Friday, March 22nd. Finally, Jefferies Financial Group began coverage on Corbus Pharmaceuticals in a research report on Friday, April 5th. They issued a “buy” rating and a $18.00 price objective for the company. One research analyst has rated the stock with a sell rating, one has issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $23.59.

Shares of NASDAQ CRBP traded up $0.11 during mid-day trading on Friday, hitting $7.04. The company had a trading volume of 1,664,698 shares, compared to its average volume of 1,285,112. Corbus Pharmaceuticals has a 1-year low of $4.50 and a 1-year high of $9.11. The stock has a market cap of $453.76 million, a P/E ratio of -7.18 and a beta of 2.16.

Corbus Pharmaceuticals (NASDAQ:CRBP) last issued its quarterly earnings data on Tuesday, March 12th. The biopharmaceutical company reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.07). The firm had revenue of $1.93 million during the quarter, compared to analyst estimates of $1.99 million. Corbus Pharmaceuticals had a negative return on equity of 116.34% and a negative net margin of 1,154.52%. As a group, sell-side analysts expect that Corbus Pharmaceuticals will post -0.88 earnings per share for the current fiscal year.

In related news, insider Barbara White purchased 4,638 shares of the business’s stock in a transaction dated Thursday, March 14th. The shares were acquired at an average cost of $6.47 per share, for a total transaction of $30,007.86. Following the acquisition, the insider now owns 184,159 shares of the company’s stock, valued at approximately $1,191,508.73. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders have purchased a total of 8,668 shares of company stock valued at $56,923 over the last three months. 12.60% of the stock is owned by corporate insiders.

Several institutional investors have recently modified their holdings of CRBP. Barclays PLC raised its stake in shares of Corbus Pharmaceuticals by 5,967.8% in the 4th quarter. Barclays PLC now owns 9,041 shares of the biopharmaceutical company’s stock valued at $52,000 after purchasing an additional 8,892 shares in the last quarter. Metropolitan Life Insurance Co. NY grew its position in shares of Corbus Pharmaceuticals by 357.7% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 16,973 shares of the biopharmaceutical company’s stock valued at $99,000 after buying an additional 13,265 shares during the last quarter. D.A. Davidson & CO. bought a new stake in shares of Corbus Pharmaceuticals during the 3rd quarter valued at about $156,000. P.A.W. Capital Corp bought a new stake in shares of Corbus Pharmaceuticals during the 1st quarter valued at about $209,000. Finally, Bank of America Corp DE grew its position in shares of Corbus Pharmaceuticals by 6.7% during the 4th quarter. Bank of America Corp DE now owns 37,304 shares of the biopharmaceutical company’s stock valued at $218,000 after buying an additional 2,335 shares during the last quarter. Institutional investors and hedge funds own 40.21% of the company’s stock.

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About Corbus Pharmaceuticals

Corbus Pharmaceuticals Holdings, Inc, a clinical-stage pharmaceutical company, focuses on the development and commercialization of various therapeutics to treat rare, chronic, and serious inflammatory and fibrotic diseases. Its lead product candidate is lenabasum, a synthetic oral endocannabinoid-mimetic drug to resolve chronic inflammation and fibrotic processes in systemic sclerosis, cystic fibrosis, dermatomyositis, and systemic lupus erythematosus diseases.

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