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

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

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on CRBP. Oppenheimer upped their price objective on shares of Corbus Pharmaceuticals from $20.00 to $51.00 and gave the company an “outperform” rating in a report on Monday, January 29th. StockNews.com upgraded shares of Corbus Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Saturday, February 3rd.

Read Our Latest Report on Corbus Pharmaceuticals

Corbus Pharmaceuticals Stock Performance

Shares of NASDAQ CRBP opened at $21.07 on Monday. The company has a 50 day simple moving average of $10.29 and a two-hundred day simple moving average of $7.50. Corbus Pharmaceuticals has a 12 month low of $2.11 and a 12 month high of $39.96.

Insider Transactions at Corbus Pharmaceuticals

In other news, major shareholder Cormorant Asset Management, Lp bought 750,000 shares of the stock in a transaction on Friday, February 2nd. The stock was bought at an average cost of $19.00 per share, for a total transaction of $14,250,000.00. Following the completion of the purchase, the insider now directly owns 1,475,000 shares in the company, valued at $28,025,000. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 6.80% of the company’s stock.

Institutional Investors Weigh In On Corbus Pharmaceuticals

Several hedge funds have recently added to or reduced their stakes in CRBP. Dimensional Fund Advisors LP acquired a new stake in Corbus Pharmaceuticals during the first quarter worth about $99,000. BlackRock Inc. grew its stake in shares of Corbus Pharmaceuticals by 13.6% during the 2nd quarter. BlackRock Inc. now owns 81,964 shares of the biopharmaceutical company’s stock worth $643,000 after purchasing an additional 9,807 shares during the period. Vident Investment Advisory LLC increased its holdings 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 purchasing an additional 101,659 shares in the last quarter. State Street Corp lifted its stake in shares of Corbus Pharmaceuticals by 10.7% in 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, Two Sigma Investments LP boosted its holdings 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. 16.73% of the stock is owned by hedge funds and other institutional investors.

About Corbus Pharmaceuticals

(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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