Corvus Pharmaceuticals (NASDAQ:CRVS) Sees Unusually-High Trading Volume – Time to Buy?

Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) shares saw unusually-high trading volume on Monday . Approximately 367,985 shares changed hands during mid-day trading, an increase of 11% from the previous session’s volume of 332,056 shares.The stock last traded at $8.25 and had previously closed at $9.10.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. LADENBURG THALM/SH SH lifted their target price on Corvus Pharmaceuticals from $12.00 to $21.00 and gave the company a “buy” rating in a research note on Monday, September 16th. StockNews.com cut Corvus Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Thursday. Finally, Mizuho raised Corvus Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $10.83.

Corvus Pharmaceuticals Price Performance

The business has a 50-day simple moving average of $5.88 and a two-hundred day simple moving average of $3.56. The stock has a market cap of $555.44 million, a price-to-earnings ratio of -18.98 and a beta of 1.04.

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

Hedge Funds Weigh In On Corvus Pharmaceuticals

Several large investors have recently added to or reduced their stakes in CRVS. Avity Investment Management Inc. grew its stake in Corvus Pharmaceuticals by 138.2% in the 3rd quarter. Avity Investment Management Inc. now owns 27,580 shares of the company’s stock valued at $146,000 after buying an additional 16,000 shares in the last quarter. Towerview LLC raised its stake in shares of Corvus Pharmaceuticals by 4.6% during the second quarter. Towerview LLC now owns 400,000 shares of the company’s stock valued at $728,000 after acquiring an additional 17,500 shares during the last quarter. Cubist Systematic Strategies LLC bought a new position in shares of Corvus Pharmaceuticals during the second quarter valued at about $44,000. Marshall Wace LLP purchased a new position in shares of Corvus Pharmaceuticals during the second quarter valued at about $136,000. Finally, Vanguard Group Inc. lifted its holdings in Corvus Pharmaceuticals by 10.6% in the first quarter. Vanguard Group Inc. now owns 1,493,357 shares of the company’s stock worth $2,658,000 after buying an additional 142,724 shares during the period. Institutional investors own 46.64% of the company’s stock.

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.