Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) Short Interest Update

Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) saw a large increase in short interest in October. As of October 15th, there was short interest totalling 2,440,000 shares, an increase of 13.5% from the September 30th total of 2,150,000 shares. Based on an average daily volume of 532,600 shares, the short-interest ratio is currently 4.6 days.

Institutional Trading of Corvus Pharmaceuticals

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Samlyn Capital LLC raised its holdings in shares of Corvus Pharmaceuticals by 160.7% during the second quarter. Samlyn Capital LLC now owns 6,123,021 shares of the company’s stock worth $11,144,000 after purchasing an additional 3,774,658 shares during the period. Point72 Asset Management L.P. bought a new stake in shares of Corvus Pharmaceuticals during the 2nd quarter valued at about $10,855,000. Vanguard Group Inc. raised its stake in Corvus Pharmaceuticals by 10.6% during the first quarter. Vanguard Group Inc. now owns 1,493,357 shares of the company’s stock worth $2,658,000 after acquiring an additional 142,724 shares during the period. Towerview LLC lifted its holdings in Corvus Pharmaceuticals by 4.6% in the second quarter. Towerview LLC now owns 400,000 shares of the company’s stock worth $728,000 after acquiring an additional 17,500 shares during the last quarter. Finally, Marshall Wace LLP acquired a new position in Corvus Pharmaceuticals in the second quarter valued at approximately $136,000. 46.64% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CRVS has been the subject of a number of recent analyst reports. Mizuho raised Corvus Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 22nd. LADENBURG THALM/SH SH lifted their price target on Corvus Pharmaceuticals from $12.00 to $21.00 and gave the company a “buy” rating in a report on Monday, September 16th. Finally, StockNews.com cut shares of Corvus Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Thursday. One analyst has rated the stock with a sell rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $10.83.

Corvus Pharmaceuticals Price Performance

NASDAQ CRVS traded up $0.04 on Thursday, reaching $8.84. The company had a trading volume of 538,689 shares, compared to its average volume of 330,347. The firm has a 50-day moving average of $5.69 and a 200-day moving average of $3.44. The firm has a market capitalization of $552.95 million, a PE ratio of -16.92 and a beta of 1.14. Corvus Pharmaceuticals has a 1 year low of $1.08 and a 1 year high of $9.19.

Corvus Pharmaceuticals (NASDAQ:CRVS) last issued its quarterly earnings results on Tuesday, August 6th. The company reported ($0.07) EPS for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.05. During the same period in the previous year, the company posted ($0.14) earnings per share. As a group, sell-side analysts expect that Corvus Pharmaceuticals will post -0.45 EPS for the current fiscal year.

About Corvus Pharmaceuticals

Corvus Pharmaceuticals, Inc, a clinical stage biopharmaceutical company, focuses on the development and commercialization of immune modulator product candidates to treat solid cancers, T cell lymphomas, autoimmune, allergic, and infectious diseases. Its lead product candidate is soquelitinib (CPI-818), a selective covalent inhibitor of interleukin 2 inducible T cell kinase (ITK), which is in a multi-center Phase 1/1b clinical trial for the treatment of peripheral T cell lymphoma, solid tumors, and atopic dermatitis.