The stock of Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) is now priced at $9.28 and the shares are 0.16 points up or 1.81% higher compared to its previous closing price of $9.12. The stock had 3.067 million contracts set over the past session. CRBP shares’ daily volume is compared to its average trading volume at 1.754 million shares. However, it has a float of 73.07 million and although its performance was 17.9% over the week, it’s one to watch. It means the stock’s downside potential is -100% with the CRBP share price recently placing at $9.24 to $9.78. However, some brokerage firms have priced the stock below the average, including one that has called $18.
The shorts are climbing into the Corbus Pharmaceuticals Holdings, Inc. stock, with the latest data on short interest released on August 14, 2020, showing that short interest numbers in the CRBP shares have risen. Short interest in the stock represents just 21.92% of its float, but the volume has raised by 515608. The volume of shorted shares rised to 16.015 million from 15.499 million shares over the last two weeks. The average intraday trading volume has been 1.625 million shares, which means that days to cover moved to roughly 9.85593.
In the last trading session, Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) raised by $1.41 over the week and gained $2.49 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $9.78. The stock recorded its established 52-week high on 08/31/20.
Since 03/17/20, the stock has traded to a low of $3.29 at 182.22%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 1.47. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Corbus Pharmaceuticals Holdings, Inc.’s two-week RSI is 71.69. This suggests that the stock is oversold at the moment and that CRBP shares’ price movement remains not stable. The stochastic readings are equally revealing at 89.61% meaning the CRBP share price is currently in oversold territory.
The technical chart shows that the CRBP stock will likely settle at between $9.63 and $9.97 per share. However, if the stock dips below $9.09, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $8.89.
Currently, the stock is trading in the green of MACD, with a reading of 0.61. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Maxim Group assigned CRBP a rating of Buy in their intiating review released on July 07. BTIG Research analysts see the stock as a Buy with a target price of $22 in a flash note released to investors on June 17 initiating covering the stock. Nomura analysts see the stock as Buy when the analysts initiated the share price coverage on March 26, placing it at $12.
The average rating for the CRBP equity is 1.57 and is currently gathering a bullish momentum. Of 7 analysts tracking Corbus Pharmaceuticals Holdings, Inc. polled by Reuters, 0 rated CRBP as a hold. The remaining 7 analysts were split evenly. However, the split wasn’t equal as a majority (7) rated it as a buy or strong buy. 0 analyst advised investors against buying the stock or to sell if they own any of the stock.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) will decrease by about -99.19%, which will see them reach $2.31 million. The company’s full-year revenues are, however, expected to diminish by about -85.28%, down from $36.14 million to $5.32 million. CRBP’s expected adjusted earnings should surge almost 31.25% to end up at -$0.42 per share, while for the fiscal year, analysts project the company’s earnings to grow by about 58.04% to record -$1.77/share.