Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) Short Interest Up 5.8% in October

Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP - Get Free Report) was the target of a large increase in short interest in October. As of October 15th, there was short interest totalling 2,750,000 shares, an increase of 5.8% from the September 30th total of 2,600,000 shares. Based on an average trading volume of 638,700 shares, the short-interest ratio is currently 4.3 days. Approximately 23.6% of the company's stock are sold short.

Corbus Pharmaceuticals Stock Performance

NASDAQ:CRBP traded down $0.61 during mid-day trading on Thursday, hitting $15.96. The company had a trading volume of 304,365 shares, compared to its average volume of 580,274. Corbus Pharmaceuticals has a fifty-two week low of $3.03 and a fifty-two week high of $61.90. The firm has a market cap of $170.56 million, a P/E ratio of -2.38 and a beta of 2.53. The business's fifty day moving average is $34.00 and its two-hundred day moving average is $42.90.

Corbus Pharmaceuticals (NASDAQ:CRBP - Get Free Report) last released its quarterly earnings data on Tuesday, August 6th. The biopharmaceutical company reported ($0.90) EPS for the quarter, beating analysts' consensus estimates of ($1.19) by $0.29. Equities analysts forecast that Corbus Pharmaceuticals will post -3.8 earnings per share for the current year.

Insider Activity

In other news, major shareholder Cormorant Asset Management, Lp acquired 350,000 shares of the company's stock in a transaction that occurred on Friday, September 20th. The shares were purchased at an average price of $20.01 per share, for a total transaction of $7,003,500.00. Following the completion of the acquisition, the insider now owns 2,375,000 shares of the company's stock, valued at approximately $47,523,750. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 4.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Corbus Pharmaceuticals

Several hedge funds have recently made changes to their positions in CRBP. SG Americas Securities LLC acquired a new stake in Corbus Pharmaceuticals in the third quarter valued at $151,000. Rhumbline Advisers bought a new stake in shares of Corbus Pharmaceuticals in the 2nd quarter valued at about $638,000. Acadian Asset Management LLC acquired a new stake in Corbus Pharmaceuticals in the 2nd quarter valued at about $716,000. ClariVest Asset Management LLC bought a new position in Corbus Pharmaceuticals during the second quarter worth about $725,000. Finally, Victory Capital Management Inc. acquired a new position in Corbus Pharmaceuticals during the second quarter worth approximately $862,000. 64.64% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Mizuho reaffirmed an "outperform" rating and issued a $74.00 target price on shares of Corbus Pharmaceuticals in a report on Friday, September 20th. Lifesci Capital raised shares of Corbus Pharmaceuticals to a "strong-buy" rating in a research report on Wednesday, August 21st. HC Wainwright reissued a "buy" rating and issued a $80.00 price target on shares of Corbus Pharmaceuticals in a report on Monday, September 23rd. Wedbush dropped their price objective on shares of Corbus Pharmaceuticals from $85.00 to $51.00 and set an "outperform" rating on the stock in a report on Friday, September 20th. Finally, StockNews.com cut shares of Corbus Pharmaceuticals from a "hold" rating to a "sell" rating in a research note on Saturday, August 10th. One analyst has rated the stock with a sell rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $65.86.

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, a peripherally restricted cannabinoid type-1 (CB1) receptor inverse agonist for the treatment of obesity.