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

Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) saw an uptick in trading volume on Monday . 367,985 shares were traded 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.

Analysts Set New Price Targets

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

Corvus Pharmaceuticals Price Performance

The company’s 50-day simple moving average is $5.88 and its 200-day simple moving average is $3.56. The company 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 announced its quarterly earnings data on Tuesday, August 6th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.05. During the same period in the prior year, the firm earned ($0.14) EPS. Equities analysts predict that Corvus Pharmaceuticals, Inc. will post -0.45 EPS for the current fiscal year.

Institutional Trading of Corvus Pharmaceuticals

A number of large investors have recently bought and sold shares of the stock. Point72 Asset Management L.P. bought a new position in Corvus Pharmaceuticals in the second quarter valued at approximately $10,855,000. Samlyn Capital LLC boosted its position in shares of Corvus Pharmaceuticals by 160.7% during the 2nd quarter. Samlyn Capital LLC now owns 6,123,021 shares of the company’s stock valued at $11,144,000 after purchasing an additional 3,774,658 shares in the last quarter. Vanguard Group Inc. raised its stake in Corvus Pharmaceuticals by 10.6% during the 1st 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. Marshall Wace LLP purchased a new stake in shares of Corvus Pharmaceuticals in the second quarter worth approximately $136,000. Finally, Cubist Systematic Strategies LLC bought a new position in shares of Corvus Pharmaceuticals in the second quarter valued at approximately $44,000. 46.64% of the stock is currently owned by institutional investors.

Corvus Pharmaceuticals Company Profile

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.