Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP – Get Free Report) was the target of a significant growth in short interest in June. As of June 15th, there was short interest totalling 623,900 shares, a growth of 69.0% from the May 31st total of 369,100 shares. Currently, 6.0% of the shares of the stock are short sold. Based on an average daily volume of 244,900 shares, the short-interest ratio is presently 2.5 days.
Insider Activity
In related news, CEO Yuval Cohen sold 11,103 shares of Corbus Pharmaceuticals stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $46.02, for a total transaction of $510,960.06. Following the transaction, the chief executive officer now owns 84,400 shares in the company, valued at $3,884,088. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Corbus Pharmaceuticals news, CEO Yuval Cohen sold 11,103 shares of the business’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $46.02, for a total value of $510,960.06. Following the transaction, the chief executive officer now directly owns 84,400 shares in the company, valued at approximately $3,884,088. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Sean F. Moran sold 1,958 shares of the firm’s stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $42.12, for a total transaction of $82,470.96. Following the sale, the chief financial officer now owns 48,605 shares of the company’s stock, valued at approximately $2,047,242.60. The disclosure for this sale can be found here. Insiders sold 51,733 shares of company stock worth $2,530,799 over the last ninety days. Corporate insiders own 4.00% of the company’s stock.
Institutional Trading of Corbus Pharmaceuticals
Several hedge funds have recently added to or reduced their stakes in CRBP. Ikarian Capital LLC grew its holdings in Corbus Pharmaceuticals by 185.5% during the 1st quarter. Ikarian Capital LLC now owns 559,271 shares of the biopharmaceutical company’s stock worth $21,946,000 after acquiring an additional 363,372 shares in the last quarter. Vanguard Group Inc. lifted its holdings 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 buying an additional 257,808 shares during the last quarter. Janus Henderson Group PLC acquired a new position in shares of Corbus Pharmaceuticals during the 1st quarter worth about $13,363,000. Assenagon Asset Management S.A. purchased a new position in shares of Corbus Pharmaceuticals in the 1st quarter valued at about $10,181,000. Finally, Price T Rowe Associates Inc. MD acquired a new stake in shares of Corbus Pharmaceuticals during the 1st quarter worth about $7,554,000. Institutional investors and hedge funds own 64.64% of the company’s stock.
Analyst Upgrades and Downgrades
Read Our Latest Stock Analysis on CRBP
Corbus Pharmaceuticals Price Performance
Shares of NASDAQ CRBP traded up $1.37 during mid-day trading on Friday, hitting $45.25. The company had a trading volume of 1,774,240 shares, compared to its average volume of 603,495. The company has a market capitalization of $483.72 million, a PE ratio of -6.50 and a beta of 2.52. The business’s 50-day simple moving average is $43.05 and its 200 day simple moving average is $30.53. Corbus Pharmaceuticals has a 1-year low of $3.03 and a 1-year high of $55.41.
Corbus Pharmaceuticals (NASDAQ:CRBP – Get Free Report) last posted its quarterly earnings results on Tuesday, May 7th. The biopharmaceutical company reported ($0.83) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.09) by $0.26. On average, analysts expect that Corbus Pharmaceuticals will post -5.86 EPS for the current year.
Corbus Pharmaceuticals Company Profile
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.
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