Short Interest in Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) Decreases By 9.1%

Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) was the target of a significant decline in short interest in December. As of December 31st, there was short interest totalling 2,410,000 shares, a decline of 9.1% from the December 15th total of 2,650,000 shares. Based on an average trading volume of 324,600 shares, the days-to-cover ratio is presently 7.4 days. Currently, 22.1% of the company’s stock are sold short.

Analysts Set New Price Targets

A number of brokerages have issued reports on CRBP. HC Wainwright reaffirmed a “buy” rating and issued a $80.00 target price on shares of Corbus Pharmaceuticals in a research report on Monday, September 23rd. B. Riley cut their price target on shares of Corbus Pharmaceuticals from $85.00 to $40.00 and set a “buy” rating on the stock in a report on Friday, September 20th. StockNews.com raised shares of Corbus Pharmaceuticals to a “sell” rating in a report on Monday, January 13th. Piper Sandler began coverage on shares of Corbus Pharmaceuticals in a research note on Monday, December 2nd. They issued an “overweight” rating and a $35.00 target price on the stock. Finally, Wedbush reiterated an “outperform” rating and issued a $51.00 price target on shares of Corbus Pharmaceuticals in a research note on Monday, November 4th. One analyst has rated the stock with a sell rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Corbus Pharmaceuticals has a consensus rating of “Moderate Buy” and an average price target of $62.00.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. grew its position in shares of Corbus Pharmaceuticals by 27.0% during the third quarter. JPMorgan Chase & Co. now owns 5,507 shares of the biopharmaceutical company’s stock worth $114,000 after acquiring an additional 1,172 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in Corbus Pharmaceuticals by 7.6% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 22,731 shares of the biopharmaceutical company’s stock worth $469,000 after purchasing an additional 1,600 shares during the last quarter. FMR LLC increased its stake in shares of Corbus Pharmaceuticals by 33.0% in the third quarter. FMR LLC now owns 10,028 shares of the biopharmaceutical company’s stock valued at $207,000 after purchasing an additional 2,486 shares during the period. Vestcor Inc bought a new stake in shares of Corbus Pharmaceuticals during the third quarter valued at approximately $64,000. Finally, Victory Capital Management Inc. boosted its position in shares of Corbus Pharmaceuticals by 29.9% during the third quarter. Victory Capital Management Inc. now owns 24,760 shares of the biopharmaceutical company’s stock worth $511,000 after buying an additional 5,700 shares during the period. 64.64% of the stock is currently owned by institutional investors.

Corbus Pharmaceuticals Trading Down 9.1 %

NASDAQ:CRBP opened at $11.92 on Friday. The stock has a 50 day moving average of $14.73 and a 200-day moving average of $31.94. The firm has a market capitalization of $145.19 million, a PE ratio of -2.54 and a beta of 2.63. Corbus Pharmaceuticals has a 52 week low of $6.20 and a 52 week high of $61.90.

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