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

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Wedbush reiterated an “outperform” rating and set a $51.00 price objective on shares of Corbus Pharmaceuticals in a research note on Monday, November 4th. StockNews.com raised Corbus Pharmaceuticals to a “sell” rating in a research report on Monday, January 13th. Finally, Piper Sandler assumed coverage on Corbus Pharmaceuticals in a research note on Monday, December 2nd. They set an “overweight” rating and a $35.00 price target on the stock. One equities research 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’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $62.00.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. JPMorgan Chase & Co. grew its position in shares of Corbus Pharmaceuticals by 27.0% during the 3rd 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 during the period. The Manufacturers Life Insurance Company grew its holdings in Corbus Pharmaceuticals by 7.6% in the third quarter. The Manufacturers Life Insurance Company now owns 22,731 shares of the biopharmaceutical company’s stock valued at $469,000 after purchasing an additional 1,600 shares during the period. FMR LLC increased its position 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 buying an additional 2,486 shares in the last quarter. Vestcor Inc acquired a new position in shares of Corbus Pharmaceuticals during the 3rd quarter worth approximately $64,000. Finally, Victory Capital Management Inc. lifted its position in shares of Corbus Pharmaceuticals by 29.9% during the 3rd quarter. Victory Capital Management Inc. now owns 24,760 shares of the biopharmaceutical company’s stock valued at $511,000 after buying an additional 5,700 shares in the last quarter. Institutional investors and hedge funds own 64.64% of the company’s stock.

Corbus Pharmaceuticals Trading Down 1.1 %

Shares of CRBP stock opened at $9.79 on Monday. Corbus Pharmaceuticals has a twelve month low of $9.51 and a twelve month high of $61.90. The stock has a 50 day moving average of $13.39 and a 200 day moving average of $28.83. The stock has a market cap of $119.23 million, a P/E ratio of -2.09 and a beta of 2.63.

Corbus Pharmaceuticals (NASDAQ:CRBP) last posted its earnings results on Thursday, November 7th. The biopharmaceutical company reported ($1.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.99) by ($0.16). On average, research analysts predict that Corbus Pharmaceuticals will post -4.23 earnings per share for the current fiscal year.

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.