Corbus Pharmaceuticals Holdings Inc. (NASDAQ:CRBP) was the target of a significant increase in short interest in the month of September. As of September 30th, there was short interest totalling 2,398,479 shares, an increase of 284.3% from the September 15th total of 624,046 shares. Currently, 6.8% of the shares of the company are short sold. Based on an average trading volume of 1,318,709 shares, the days-to-cover ratio is presently 1.8 days.
A number of research firms recently commented on CRBP. Cantor Fitzgerald began coverage on shares of Corbus Pharmaceuticals Holdings in a report on Tuesday, October 4th. They set a “buy” rating and a $17.00 price objective on the stock. Aegis set a $12.00 price objective on shares of Corbus Pharmaceuticals Holdings and gave the stock a “buy” rating in a report on Monday, September 19th.
Shares of Corbus Pharmaceuticals Holdings (NASDAQ:CRBP) opened at 6.95 on Wednesday. Corbus Pharmaceuticals Holdings has a 12-month low of $1.01 and a 12-month high of $10.78. The stock’s market cap is $304.05 million. The company’s 50-day moving average is $6.83 and its 200-day moving average is $3.84.
Corbus Pharmaceuticals Holdings (NASDAQ:CRBP) last posted its quarterly earnings data on Monday, August 15th. The biopharmaceutical company reported ($0.11) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.08) by $0.03. Corbus Pharmaceuticals Holdings had a negative net margin of 890.44% and a negative return on equity of 107.10%. On average, analysts expect that Corbus Pharmaceuticals Holdings will post ($0.40) earnings per share for the current fiscal year.
In other news, insider Barbara White purchased 38,000 shares of the company’s stock in a transaction dated Wednesday, August 17th. The shares were acquired at an average cost of $3.15 per share, for a total transaction of $119,700.00. Following the completion of the purchase, the insider now directly owns 161,067 shares in the company, valued at approximately $507,361.05. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Sean F. Moran purchased 17,900 shares of the company’s stock in a transaction dated Friday, August 26th. The shares were purchased at an average price of $3.92 per share, for a total transaction of $70,168.00. Following the completion of the purchase, the chief financial officer now owns 299,310 shares of the company’s stock, valued at $1,173,295.20. The disclosure for this purchase can be found here. Insiders own 11.60% of the company’s stock.
Corbus Pharmaceuticals Holdings Company Profile
Corbus Pharmaceuticals Holdings, Inc is a clinical-stage pharmaceutical company. The Company is focused on the development and commercialization of therapeutics to treat rare or uncommon chronic and serious inflammatory and fibrotic diseases. The Company’s segment is developing and commercializing therapeutics to treat rare life-threatening inflammatory fibrotic diseases.
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