Corbus Pharmaceuticals Holdings Inc. (NASDAQ:CRBP) was the target of a large growth in short interest in the month of September. As of September 30th, there was short interest totalling 2,398,479 shares, a growth of 284.3% from the September 15th total of 624,046 shares. Based on an average daily trading volume, of 1,318,709 shares, the days-to-cover ratio is presently 1.8 days. Approximately 6.8% of the company’s shares are short sold.
Corbus Pharmaceuticals Holdings (NASDAQ:CRBP) opened at 9.34 on Friday. Corbus Pharmaceuticals Holdings has a 12-month low of $1.01 and a 12-month high of $10.78. The firm’s 50-day moving average price is $6.53 and its 200-day moving average price is $3.68. The company’s market cap is $408.61 million.
Corbus Pharmaceuticals Holdings (NASDAQ:CRBP) last posted its earnings results on Monday, August 15th. The biopharmaceutical company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by $0.03. Corbus Pharmaceuticals Holdings had a negative return on equity of 107.10% and a negative net margin of 890.44%. Equities research analysts forecast that Corbus Pharmaceuticals Holdings will post ($0.40) earnings per share for the current fiscal year.
Several analysts recently commented on the company. Aegis set a $12.00 price objective on Corbus Pharmaceuticals Holdings and gave the stock a “buy” rating in a research note on Monday, September 19th. Cantor Fitzgerald assumed coverage on Corbus Pharmaceuticals Holdings in a research note on Tuesday, October 4th. They set a “buy” rating and a $17.00 price objective on the stock.
In other Corbus Pharmaceuticals Holdings news, insider Barbara White acquired 38,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 17th. The shares were acquired at an average price of $3.15 per share, with a total value of $119,700.00. Following the purchase, the insider now owns 161,067 shares of the company’s stock, valued at approximately $507,361.05. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Sean F. Moran acquired 17,900 shares of the company’s stock in a transaction that occurred on Friday, August 26th. The shares were acquired at an average cost of $3.92 per share, for a total transaction of $70,168.00. Following the purchase, the chief financial officer now directly owns 299,310 shares in the company, valued at approximately $1,173,295.20. The disclosure for this purchase can be found here. Corporate insiders own 11.60% of the company’s stock.
About Corbus Pharmaceuticals Holdings
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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