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

Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP - Get Free Report) saw a significant 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. Based on an average trading volume of 448,900 shares, the days-to-cover ratio is presently 5.9 days. Currently, 24.3% of the shares of the company are sold short.

Corbus Pharmaceuticals Trading Down 2.3 %

CRBP stock traded down $0.28 during trading on Wednesday, hitting $11.80. The company had a trading volume of 338,649 shares, compared to its average volume of 538,077. The company has a fifty day moving average price of $15.96 and a two-hundred day moving average price of $34.54. Corbus Pharmaceuticals has a fifty-two week low of $5.67 and a fifty-two week high of $61.90. The company has a market cap of $143.71 million, a P/E ratio of -2.52 and a beta of 2.58.

Analyst Upgrades and Downgrades

Several analysts have issued reports on CRBP shares. Wedbush restated an "outperform" rating and issued a $51.00 price target on shares of Corbus Pharmaceuticals in a research report on Monday, November 4th. Mizuho reissued an "outperform" rating and set a $74.00 target price on shares of Corbus Pharmaceuticals in a research report on Friday, September 20th. Royal Bank of Canada restated an "outperform" rating and set a $82.00 price target on shares of Corbus Pharmaceuticals in a research note on Friday, September 20th. B. Riley reduced their price objective on Corbus Pharmaceuticals from $85.00 to $40.00 and set a "buy" rating for the company in a research report on Friday, September 20th. Finally, HC Wainwright restated a "buy" rating and set a $80.00 price objective on shares of Corbus Pharmaceuticals in a research report on Monday, September 23rd. One analyst has rated the stock with a sell rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Corbus Pharmaceuticals currently has a consensus rating of "Moderate Buy" and a consensus price target of $62.00.

Institutional Investors Weigh In On Corbus Pharmaceuticals

Several large investors have recently made changes to their positions in CRBP. Vestcor Inc acquired a new position in Corbus Pharmaceuticals in the third quarter valued at about $64,000. JPMorgan Chase & Co. boosted its holdings 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 worth $114,000 after acquiring an additional 1,172 shares in the last quarter. MetLife Investment Management LLC bought a new stake in Corbus Pharmaceuticals during the 3rd quarter worth approximately $123,000. SG Americas Securities LLC acquired a new stake in Corbus Pharmaceuticals during the 3rd quarter valued at $151,000. Finally, FMR LLC increased its holdings in Corbus Pharmaceuticals by 33.0% during the 3rd quarter. FMR LLC now owns 10,028 shares of the biopharmaceutical company's stock valued at $207,000 after purchasing an additional 2,486 shares in the last quarter. 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.