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

Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) was the target of a significant growth in short interest during the month of May. As of May 31st, there was short interest totalling 1,520,000 shares, a growth of 17.8% from the May 15th total of 1,290,000 shares. Based on an average daily trading volume, of 235,300 shares, the short-interest ratio is presently 6.5 days.

Corvus Pharmaceuticals Price Performance

CRVS stock opened at $1.93 on Tuesday. The company’s 50 day simple moving average is $1.88 and its 200-day simple moving average is $1.94. The firm has a market capitalization of $120.72 million, a PE ratio of -3.71 and a beta of 1.10. Corvus Pharmaceuticals has a 12 month low of $1.05 and a 12 month high of $3.16.

Corvus Pharmaceuticals (NASDAQ:CRVS) last announced its earnings results on Monday, May 6th. The company reported ($0.12) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.12). As a group, sell-side analysts anticipate that Corvus Pharmaceuticals will post -0.49 earnings per share for the current year.

Insider Activity

In other news, insider William Benton Jones purchased 20,000 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was purchased at an average cost of $1.73 per share, with a total value of $34,600.00. Following the completion of the acquisition, the insider now directly owns 153,773 shares of the company’s stock, valued at approximately $266,027.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, insider William Benton Jones purchased 20,000 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was purchased at an average cost of $1.73 per share, with a total value of $34,600.00. Following the completion of the acquisition, the insider now directly owns 153,773 shares of the company’s stock, valued at approximately $266,027.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Richard A. Md Miller purchased 577,634 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The shares were purchased at an average cost of $1.73 per share, with a total value of $999,306.82. Following the completion of the acquisition, the chief executive officer now directly owns 577,634 shares of the company’s stock, valued at $999,306.82. The disclosure for this purchase can be found here. Corporate insiders own 31.30% of the company’s stock.

Institutional Trading of Corvus Pharmaceuticals

An institutional investor recently raised its position in Corvus Pharmaceuticals stock. Towerview LLC boosted its stake in shares of Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) by 27.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 436,873 shares of the company’s stock after purchasing an additional 94,395 shares during the period. Corvus Pharmaceuticals makes up approximately 0.5% of Towerview LLC’s portfolio, making the stock its 17th biggest holding. Towerview LLC owned approximately 0.89% of Corvus Pharmaceuticals worth $769,000 at the end of the most recent reporting period. 46.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on CRVS shares. Mizuho restated a “neutral” rating and set a $3.50 target price on shares of Corvus Pharmaceuticals in a research report on Wednesday, March 27th. Cantor Fitzgerald restated an “overweight” rating on shares of Corvus Pharmaceuticals in a research report on Monday, April 1st. Finally, Oppenheimer upped their target price on shares of Corvus Pharmaceuticals from $7.00 to $8.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 7th.

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.