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

Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) was the recipient of a large growth in short interest in the month of October. As of October 15th, there was short interest totalling 2,440,000 shares, a growth 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.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CRVS. Mizuho raised shares of Corvus Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 22nd. StockNews.com cut Corvus Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Thursday. Finally, LADENBURG THALM/SH SH raised their price objective on 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 given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Corvus Pharmaceuticals has an average rating of “Moderate Buy” and a consensus price target of $10.83.

Corvus Pharmaceuticals Price Performance

CRVS traded up $0.04 during midday trading on Thursday, hitting $8.84. 538,689 shares of the company’s stock traded hands, compared to its average volume of 330,347. The company has a market cap of $552.95 million, a PE ratio of -16.92 and a beta of 1.14. The stock’s fifty day simple moving average is $5.69 and its 200-day simple moving average is $3.44. Corvus Pharmaceuticals has a one year low of $1.08 and a one year high of $9.19.

Corvus Pharmaceuticals (NASDAQ:CRVS) last released its quarterly earnings results on Tuesday, August 6th. The company reported ($0.07) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.05. During the same quarter in the prior year, the company posted ($0.14) EPS. On average, research analysts expect that Corvus Pharmaceuticals will post -0.45 EPS for the current year.

Hedge Funds Weigh In On Corvus Pharmaceuticals

Several institutional investors have recently bought and sold shares of CRVS. Cubist Systematic Strategies LLC acquired a new position in shares of Corvus Pharmaceuticals during the 2nd quarter worth about $44,000. Marshall Wace LLP acquired a new position in shares of Corvus Pharmaceuticals during the second quarter valued at about $136,000. Avity Investment Management Inc. lifted its stake in shares of Corvus Pharmaceuticals by 138.2% in the third 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 during the period. Towerview LLC grew its position in Corvus Pharmaceuticals by 4.6% during the second quarter. Towerview LLC now owns 400,000 shares of the company’s stock worth $728,000 after buying an additional 17,500 shares in the last quarter. Finally, Vanguard Group Inc. increased 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 valued at $2,658,000 after acquiring an additional 142,724 shares during the period. 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.