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

Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) saw a large 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. Approximately 22.1% of the shares of the stock are sold short. Based on an average daily trading volume, of 324,600 shares, the short-interest ratio is presently 7.4 days.

Corbus Pharmaceuticals Trading Down 9.1 %

NASDAQ CRBP traded down $1.20 on Friday, reaching $11.92. The stock had a trading volume of 185,983 shares, compared to its average volume of 247,642. The business has a 50 day moving average price of $14.73 and a 200 day moving average price of $31.71. Corbus Pharmaceuticals has a 1 year low of $6.20 and a 1 year high of $61.90. The company has a market capitalization of $145.19 million, a price-to-earnings ratio of -2.54 and a beta of 2.63.

Analyst Ratings Changes

CRBP has been the topic of a number of research reports. Wedbush reissued an “outperform” rating and issued a $51.00 price objective on shares of Corbus Pharmaceuticals in a research note on Monday, November 4th. Piper Sandler assumed coverage on Corbus Pharmaceuticals in a research note on Monday, December 2nd. They issued an “overweight” rating and a $35.00 price objective on the stock. StockNews.com upgraded Corbus Pharmaceuticals to a “sell” rating in a report on Monday, January 13th. Finally, HC Wainwright restated a “buy” rating and issued a $80.00 target price on shares of Corbus Pharmaceuticals in a report on Monday, September 23rd. One analyst has rated the stock with a sell rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Corbus Pharmaceuticals has an average rating of “Moderate Buy” and a consensus price target of $62.00.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Vestcor Inc purchased a new position in Corbus Pharmaceuticals in the third quarter valued at about $64,000. JPMorgan Chase & Co. grew its stake in Corbus Pharmaceuticals by 27.0% in the third 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 in the last quarter. MetLife Investment Management LLC purchased a new position in Corbus Pharmaceuticals in the third quarter valued at about $123,000. Avanza Fonder AB purchased a new position in Corbus Pharmaceuticals in the fourth quarter valued at about $84,000. Finally, SG Americas Securities LLC purchased a new position in Corbus Pharmaceuticals in the third quarter valued at about $151,000. Hedge funds and other institutional investors 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.