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

Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) saw a large growth in short interest in the month of 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. Approximately 24.3% of the shares of the stock are sold short. Based on an average daily volume of 448,900 shares, the days-to-cover ratio is presently 5.9 days.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $82.00 target price on shares of Corbus Pharmaceuticals in a research note on Friday, September 20th. HC Wainwright reaffirmed a “buy” rating and issued a $80.00 price target on shares of Corbus Pharmaceuticals in a report on Monday, September 23rd. Mizuho reissued an “outperform” rating and issued a $74.00 price objective on shares of Corbus Pharmaceuticals in a report on Friday, September 20th. Wedbush reissued an “outperform” rating and issued a $51.00 price target on shares of Corbus Pharmaceuticals in a research note on Monday, November 4th. 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 objective on the stock. 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $62.00.

Corbus Pharmaceuticals Stock Up 2.3 %

CRBP stock traded up $0.27 during midday trading on Thursday, hitting $12.07. The company’s stock had a trading volume of 17,630 shares, compared to its average volume of 538,077. Corbus Pharmaceuticals has a 52-week low of $5.67 and a 52-week high of $61.90. The firm has a 50-day simple moving average of $15.96 and a 200-day simple moving average of $34.54. The firm has a market capitalization of $147.00 million, a P/E ratio of -2.57 and a beta of 2.58.

Institutional Investors Weigh In On Corbus Pharmaceuticals

Several large investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp purchased a new position in Corbus Pharmaceuticals in the second quarter valued at approximately $1,368,000. Rhumbline Advisers purchased a new stake in shares of Corbus Pharmaceuticals in the second quarter valued at $638,000. TD Asset Management Inc lifted its holdings in shares of Corbus Pharmaceuticals by 92.5% during the 2nd quarter. TD Asset Management Inc now owns 40,800 shares of the biopharmaceutical company’s stock worth $1,846,000 after acquiring an additional 19,600 shares during the period. Victory Capital Management Inc. purchased a new stake in Corbus Pharmaceuticals during the second quarter valued at about $862,000. Finally, Acadian Asset Management LLC purchased a new position in Corbus Pharmaceuticals in the second quarter valued at approximately $716,000. Hedge funds and other institutional investors own 64.64% of the company’s stock.

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.