Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) Short Interest Up 1,553.7% in January

Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBPGet Free Report) was the recipient of a significant growth in short interest during the month of January. As of January 31st, there was short interest totalling 464,700 shares, a growth of 1,553.7% from the January 15th total of 28,100 shares. Based on an average trading volume of 734,800 shares, the short-interest ratio is currently 0.6 days. Approximately 4.5% of the company’s shares are short sold.

Corbus Pharmaceuticals Trading Up 3.8 %

NASDAQ:CRBP opened at $23.00 on Tuesday. The firm has a market capitalization of $222.87 million, a price-to-earnings ratio of -2.06 and a beta of 2.41. The firm’s fifty day simple moving average is $10.63 and its 200 day simple moving average is $7.62. Corbus Pharmaceuticals has a twelve month low of $2.11 and a twelve month high of $39.96.

Insider Activity at Corbus Pharmaceuticals

In other Corbus Pharmaceuticals news, major shareholder Cormorant Asset Management, Lp bought 750,000 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The shares were purchased at an average price of $19.00 per share, with a total value of $14,250,000.00. Following the completion of the acquisition, the insider now directly owns 1,475,000 shares of the company’s stock, valued at approximately $28,025,000. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 6.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Corbus Pharmaceuticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CRBP. Two Sigma Investments LP increased its position in shares of Corbus Pharmaceuticals by 366.7% in the 4th quarter. Two Sigma Investments LP now owns 570,168 shares of the biopharmaceutical company’s stock worth $63,000 after purchasing an additional 448,002 shares during the last quarter. Dimensional Fund Advisors LP bought a new stake in shares of Corbus Pharmaceuticals during the 1st quarter valued at about $99,000. Vident Investment Advisory LLC grew its position in shares of Corbus Pharmaceuticals by 66.2% during the 1st quarter. Vident Investment Advisory LLC now owns 255,146 shares of the biopharmaceutical company’s stock valued at $135,000 after buying an additional 101,659 shares during the last quarter. State Street Corp boosted its stake in Corbus Pharmaceuticals by 10.7% during the 1st quarter. State Street Corp now owns 395,513 shares of the biopharmaceutical company’s stock valued at $210,000 after purchasing an additional 38,304 shares during the period. Finally, Renaissance Technologies LLC boosted its stake in Corbus Pharmaceuticals by 40.6% during the 2nd quarter. Renaissance Technologies LLC now owns 1,626,860 shares of the biopharmaceutical company’s stock valued at $410,000 after purchasing an additional 469,669 shares during the period. Hedge funds and other institutional investors own 16.73% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CRBP. Oppenheimer raised their target price on shares of Corbus Pharmaceuticals from $20.00 to $51.00 and gave the stock an “outperform” rating in a research report on Monday, January 29th. StockNews.com lowered shares of Corbus Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Monday.

Check Out Our Latest Research Report on CRBP

Corbus Pharmaceuticals Company Profile

(Get Free Report)

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.

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