Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP – Get Free Report) 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.
Read Our Latest Research Report on CRBP
Insider Transactions at Corbus Pharmaceuticals
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 – Get Free Report) 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.
Further Reading
- Five stocks we like better than Corbus Pharmaceuticals
- Stock Market Holidays 2022-2025 – Here’s When the NYSE and NASDAQ Will be Closed
- The Charles Schwab Company Can Hit New Highs
- TSX Venture Exchange (Formerly Canadian Venture Exchange)
- Costco vs. Walmart: Revenue Comparison of Two Retail Giants
- What is the FTSE 100 index?
- 3 Energy Plays for Cash Flow: Buy 1 or Buy Them All
Receive News & Ratings for Corbus Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Corbus Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.