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

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

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in CRBP. JPMorgan Chase & Co. grew its holdings 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 purchasing an additional 1,172 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in Corbus Pharmaceuticals by 7.6% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 22,731 shares of the biopharmaceutical company’s stock worth $469,000 after acquiring an additional 1,600 shares during the last quarter. FMR LLC boosted its stake in shares of Corbus Pharmaceuticals by 33.0% during the third 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 during the period. Vestcor Inc purchased a new position in shares of Corbus Pharmaceuticals in the third quarter worth $64,000. Finally, Victory Capital Management Inc. boosted its position in 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 during the period. 64.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on CRBP shares. Piper Sandler began coverage on Corbus Pharmaceuticals in a research note on Monday, December 2nd. They issued an “overweight” rating and a $35.00 price objective for the company. Wedbush reaffirmed an “outperform” rating and set a $51.00 price objective on shares of Corbus Pharmaceuticals in a report on Monday, November 4th. Finally, StockNews.com raised shares of Corbus Pharmaceuticals to a “sell” rating in a report on Monday, January 13th. One investment analyst has rated the stock with a sell rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $62.00.

Corbus Pharmaceuticals Price Performance

Shares of NASDAQ:CRBP opened at $9.79 on Friday. The company’s fifty day moving average price is $13.55 and its 200-day moving average price is $29.39. Corbus Pharmaceuticals has a one year low of $9.51 and a one year high of $61.90.

Corbus Pharmaceuticals (NASDAQ:CRBP) last released its earnings results on Thursday, November 7th. The biopharmaceutical company reported ($1.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.99) by ($0.16). Equities research analysts predict that Corbus Pharmaceuticals will post -4.23 EPS 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.