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

Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) was the recipient of a significant increase in short interest in March. As of March 15th, there was short interest totalling 403,800 shares, an increase of 560.9% from the February 29th total of 61,100 shares. Based on an average daily trading volume, of 886,400 shares, the short-interest ratio is currently 0.5 days. Currently, 3.9% of the shares of the stock are sold short.

Insider Buying and Selling

In other Corbus Pharmaceuticals news, major shareholder Cormorant Asset Management, Lp bought 750,000 shares of the business’s stock in a transaction on Friday, February 2nd. The stock was bought at an average price of $19.00 per share, for a total transaction of $14,250,000.00. Following the completion of the transaction, the insider now owns 1,475,000 shares in the company, valued at approximately $28,025,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last 90 days, insiders have purchased 1,282,632 shares of company stock valued at $33,374,556. Corporate insiders own 6.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Two Sigma Investments LP raised its holdings in shares of 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 purchasing an additional 448,002 shares during the period. Dimensional Fund Advisors LP acquired a new stake in shares of Corbus Pharmaceuticals in the 1st quarter worth about $99,000. Royal Bank of Canada increased its holdings in shares of Corbus Pharmaceuticals by 1,576.6% in the 4th quarter. Royal Bank of Canada now owns 22,098 shares of the biopharmaceutical company’s stock worth $134,000 after acquiring an additional 20,780 shares during the period. Vident Investment Advisory LLC increased its holdings in shares of Corbus Pharmaceuticals by 66.2% in the 1st quarter. Vident Investment Advisory LLC now owns 255,146 shares of the biopharmaceutical company’s stock worth $135,000 after acquiring an additional 101,659 shares during the period. Finally, State Street Corp increased its holdings 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 worth $210,000 after acquiring an additional 38,304 shares during the period. 64.64% of the stock is currently owned by hedge funds and other institutional investors.

Corbus Pharmaceuticals Trading Down 1.6 %

CRBP opened at $35.57 on Thursday. Corbus Pharmaceuticals has a 52-week low of $3.03 and a 52-week high of $49.87. The company has a 50 day moving average of $28.36 and a two-hundred day moving average of $13.63.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. StockNews.com raised shares of Corbus Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Wednesday, February 28th. Oppenheimer reaffirmed an “outperform” rating and set a $58.00 price target (up previously from $51.00) on shares of Corbus Pharmaceuticals in a research report on Wednesday, March 13th. Finally, Jefferies Financial Group raised shares of Corbus Pharmaceuticals from a “hold” rating to a “buy” rating and upped their price target for the stock from $4.00 to $46.00 in a research report on Wednesday, March 6th.

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, 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.