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

Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP - Get Free Report) was the recipient of 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. Currently, 22.1% of the company's stock are sold short. Based on an average trading volume of 324,600 shares, the short-interest ratio is presently 7.4 days.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vestcor Inc acquired a new stake in shares of Corbus Pharmaceuticals in the 3rd quarter valued at approximately $64,000. Avanza Fonder AB acquired a new stake in Corbus Pharmaceuticals in the fourth quarter valued at $84,000. JPMorgan Chase & Co. raised its position in Corbus Pharmaceuticals by 27.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,507 shares of the biopharmaceutical company's stock worth $114,000 after purchasing an additional 1,172 shares during the last quarter. MetLife Investment Management LLC bought a new position in Corbus Pharmaceuticals during the 3rd quarter worth $123,000. Finally, SG Americas Securities LLC bought a new stake in shares of Corbus Pharmaceuticals in the 3rd quarter valued at about $151,000. Institutional investors own 64.64% of the company's stock.

Corbus Pharmaceuticals Trading Down 9.1 %

Shares of CRBP traded down $1.20 during mid-day trading on Friday, reaching $11.92. The company's stock had a trading volume of 185,983 shares, compared to its average volume of 247,642. Corbus Pharmaceuticals has a 1-year low of $6.20 and a 1-year high of $61.90. The business has a 50-day simple moving average of $14.73 and a two-hundred day simple moving average of $31.83. The stock has a market cap of $145.19 million, a P/E ratio of -2.54 and a beta of 2.63.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Royal Bank of Canada restated an "outperform" rating and set a $82.00 target price on shares of Corbus Pharmaceuticals in a report on Friday, September 20th. HC Wainwright restated a "buy" rating and set a $80.00 price objective on shares of Corbus Pharmaceuticals in a research note on Monday, September 23rd. Piper Sandler began coverage on Corbus Pharmaceuticals in a research report on Monday, December 2nd. They issued an "overweight" rating and a $35.00 target price on the stock. B. Riley reduced their price target 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, StockNews.com upgraded Corbus Pharmaceuticals to a "sell" rating in a research note on Monday, January 13th. One investment 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 company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $62.00.

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.