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

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

Corbus Pharmaceuticals Stock Down 1.1 %

Shares of CRBP opened at $9.79 on Monday. Corbus Pharmaceuticals has a 1 year low of $9.51 and a 1 year high of $61.90. The company has a 50 day simple moving average of $13.39 and a two-hundred day simple moving average of $28.83.

Corbus Pharmaceuticals (NASDAQ:CRBP) last announced its quarterly earnings data on Thursday, November 7th. The biopharmaceutical company reported ($1.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.99) by ($0.16). On average, analysts forecast that Corbus Pharmaceuticals will post -4.23 EPS for the current year.

Institutional Investors Weigh In On Corbus Pharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in the stock. Vestcor Inc bought a new position in shares of Corbus Pharmaceuticals during the 3rd quarter valued at approximately $64,000. JPMorgan Chase & Co. boosted 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 last quarter. MetLife Investment Management LLC bought a new position in shares of Corbus Pharmaceuticals during the 3rd quarter valued at approximately $123,000. Avanza Fonder AB bought a new position in shares of Corbus Pharmaceuticals during the 4th quarter valued at approximately $84,000. Finally, SG Americas Securities LLC bought a new position in shares of Corbus Pharmaceuticals during the 3rd quarter valued at approximately $151,000. 64.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on CRBP. Wedbush reissued an “outperform” rating and issued a $51.00 target price on shares of Corbus Pharmaceuticals in a report on Monday, November 4th. Piper Sandler began coverage on shares of Corbus Pharmaceuticals in a report on Monday, December 2nd. They issued an “overweight” rating and a $35.00 target price for the company. Finally, StockNews.com raised shares of Corbus Pharmaceuticals to a “sell” rating in a report on Monday, January 13th. One equities research analyst has rated the stock with a sell rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $62.00.

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.