Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) Short Interest Up 5.6% in December

Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) was the recipient of a significant growth in short interest in December. As of December 15th, there was short interest totalling 2,650,000 shares, a growth of 5.6% from the November 30th total of 2,510,000 shares. Currently, 24.3% of the company’s shares are sold short. Based on an average trading volume of 448,900 shares, the short-interest ratio is currently 5.9 days.

Institutional Investors Weigh In On Corbus Pharmaceuticals

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

Analysts Set New Price Targets

CRBP has been the topic of several research analyst reports. Royal Bank of Canada reissued an “outperform” rating and issued a $82.00 price objective on shares of Corbus Pharmaceuticals in a research note on Friday, September 20th. B. Riley cut their price target on Corbus Pharmaceuticals from $85.00 to $40.00 and set a “buy” rating on the stock in a research note on Friday, September 20th. Wedbush reaffirmed an “outperform” rating and issued a $51.00 price objective on shares of Corbus Pharmaceuticals in a research note on Monday, November 4th. Mizuho reiterated an “outperform” rating and set a $74.00 target price on shares of Corbus Pharmaceuticals in a report on Friday, September 20th. Finally, Piper Sandler began coverage on shares of Corbus Pharmaceuticals in a report on Monday, December 2nd. They issued an “overweight” rating and a $35.00 price target for the company. One equities research 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. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $62.00.

Corbus Pharmaceuticals Trading Up 2.3 %

Shares of CRBP traded up $0.27 during midday trading on Thursday, hitting $12.07. 17,630 shares of the company’s stock traded hands, compared to its average volume of 538,077. The stock has a market capitalization of $147.00 million, a price-to-earnings ratio of -2.57 and a beta of 2.58. Corbus Pharmaceuticals has a 1 year low of $5.67 and a 1 year high of $61.90. The firm’s fifty day moving average is $15.96 and its 200-day moving average is $34.54.

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.