Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) Short Interest Up 13.5% in October

Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) was the target of a large growth in short interest during 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 trading volume, of 532,600 shares, the short-interest ratio is presently 4.6 days.

Corvus Pharmaceuticals Stock Up 0.5 %

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 stock has a 50-day moving average price of $5.69 and a 200-day moving average price of $3.44. Corvus Pharmaceuticals has a 1 year low of $1.08 and a 1 year high of $9.19. The stock has a market capitalization of $552.95 million, a PE ratio of -16.92 and a beta of 1.14.

Corvus Pharmaceuticals (NASDAQ:CRVS) last announced its 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 quarter in the previous year, the firm earned ($0.14) earnings per share. As a group, analysts expect that Corvus Pharmaceuticals will post -0.45 earnings per share for the current fiscal year.

Institutional Trading of Corvus Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of CRVS. Avity Investment Management Inc. lifted its stake in shares of Corvus Pharmaceuticals by 138.2% during 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. Cubist Systematic Strategies LLC purchased a new position in shares of Corvus Pharmaceuticals during the second quarter valued at approximately $44,000. Point72 Asset Management L.P. purchased a new position in shares of Corvus Pharmaceuticals during the second quarter valued at approximately $10,855,000. Marshall Wace LLP purchased a new position in shares of Corvus Pharmaceuticals during the second quarter valued at approximately $136,000. Finally, Samlyn Capital LLC lifted its stake 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 valued at $11,144,000 after buying an additional 3,774,658 shares during the period. Hedge funds and other institutional investors own 46.64% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on CRVS shares. Mizuho upgraded shares of Corvus Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 22nd. LADENBURG THALM/SH SH lifted their target price on shares of 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 downgraded shares of Corvus Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, three have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $10.83.

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.