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

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

Institutional Investors Weigh In On Corbus Pharmaceuticals

Several hedge funds have recently modified their holdings of the business. State Street Corp boosted its position in shares of Corbus Pharmaceuticals by 34.6% in the third quarter. State Street Corp now owns 595,576 shares of the biopharmaceutical company’s stock valued at $12,287,000 after acquiring an additional 153,243 shares during the period. Darwin Global Management Ltd. bought a new position in Corbus Pharmaceuticals in the second quarter worth $14,267,000. Geode Capital Management LLC lifted its position in Corbus Pharmaceuticals by 8.1% in the third quarter. Geode Capital Management LLC now owns 249,759 shares of the biopharmaceutical company’s stock worth $5,154,000 after purchasing an additional 18,702 shares during the period. Integral Health Asset Management LLC bought a new position in Corbus Pharmaceuticals in the second quarter worth $4,525,000. Finally, Charles Schwab Investment Management Inc. lifted its position in Corbus Pharmaceuticals by 224.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 93,643 shares of the biopharmaceutical company’s stock worth $1,932,000 after purchasing an additional 64,800 shares during the period. 64.64% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on CRBP shares. StockNews.com raised Corbus Pharmaceuticals to a “sell” rating in a research report on Monday, January 13th. Wedbush reaffirmed an “outperform” rating and set a $51.00 target price on shares of Corbus Pharmaceuticals in a research report on Monday, November 4th. HC Wainwright reaffirmed a “buy” rating and set a $80.00 target price on shares of Corbus Pharmaceuticals in a research report on Monday, September 23rd. Finally, Piper Sandler started coverage on Corbus Pharmaceuticals in a research report on Monday, December 2nd. They set an “overweight” rating and a $35.00 target price for the company. One research 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 company. According to data from MarketBeat.com, Corbus Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus price target of $62.00.

Corbus Pharmaceuticals Stock Performance

Shares of CRBP traded down $1.20 during mid-day trading on Friday, hitting $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 one year low of $6.20 and a one year high of $61.90. The firm has a market capitalization of $145.19 million, a PE ratio of -2.54 and a beta of 2.63. The stock’s 50-day moving average is $14.73 and its two-hundred day moving average is $31.71.

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.