Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) Short Interest Update

Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) was the recipient of a large drop in short interest during the month of December. As of December 31st, there was short interest totalling 2,410,000 shares, a drop of 9.1% from the December 15th total of 2,650,000 shares. Currently, 22.1% of the shares of the company are short sold. Based on an average daily trading volume, of 324,600 shares, the short-interest ratio is currently 7.4 days.

Analysts Set New Price Targets

Several research firms have recently commented on CRBP. HC Wainwright reaffirmed a “buy” rating and set a $80.00 price target on shares of Corbus Pharmaceuticals in a research report on Monday, September 23rd. StockNews.com raised Corbus Pharmaceuticals to a “sell” rating in a research note on Monday, January 13th. Piper Sandler assumed coverage on shares of Corbus Pharmaceuticals in a research note on Monday, December 2nd. They set an “overweight” rating and a $35.00 target price for the company. Finally, Wedbush reaffirmed an “outperform” rating and set a $51.00 price objective on shares of Corbus Pharmaceuticals in a report on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $62.00.

Corbus Pharmaceuticals Stock Performance

Shares of CRBP stock opened at $11.92 on Monday. Corbus Pharmaceuticals has a fifty-two week low of $6.20 and a fifty-two week high of $61.90. The stock’s 50-day simple moving average is $14.73 and its 200-day simple moving average is $31.71. The firm has a market capitalization of $145.19 million, a PE ratio of -2.54 and a beta of 2.63.

Hedge Funds Weigh In On Corbus Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of CRBP. Vestcor Inc purchased a new position in Corbus Pharmaceuticals during the third quarter valued at approximately $64,000. Avanza Fonder AB purchased a new position in shares of Corbus Pharmaceuticals during the 4th quarter valued at approximately $84,000. JPMorgan Chase & Co. lifted its stake in shares of Corbus Pharmaceuticals by 27.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,507 shares of the biopharmaceutical company’s stock valued at $114,000 after purchasing an additional 1,172 shares during the period. MetLife Investment Management LLC purchased a new stake in Corbus Pharmaceuticals during the third quarter worth $123,000. Finally, SG Americas Securities LLC acquired a new stake in Corbus Pharmaceuticals during the third quarter valued at $151,000. Institutional investors and hedge funds own 64.64% of the company’s stock.

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.