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

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

Corvus Pharmaceuticals Price Performance

CRVS traded up $0.04 during trading hours on Thursday, reaching $8.84. 538,689 shares of the stock traded hands, compared to its average volume of 330,347. The firm’s fifty day simple moving average is $5.69 and its two-hundred day simple moving average is $3.44. The company has a market cap of $552.95 million, a price-to-earnings ratio of -16.92 and a beta of 1.14. Corvus Pharmaceuticals has a fifty-two week low of $1.08 and a fifty-two week high of $9.19.

Corvus Pharmaceuticals (NASDAQ:CRVS) last announced its quarterly earnings data on Tuesday, August 6th. The company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.12) by $0.05. During the same quarter last year, the business earned ($0.14) EPS. On average, research analysts predict that Corvus Pharmaceuticals will post -0.45 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on CRVS shares. LADENBURG THALM/SH SH increased their price objective on shares of Corvus Pharmaceuticals from $12.00 to $21.00 and gave the stock a “buy” rating in a research report on Monday, September 16th. StockNews.com lowered shares of Corvus Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Thursday. Finally, Mizuho raised shares of Corvus Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 22nd. One research 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. According to MarketBeat, Corvus Pharmaceuticals has an average rating of “Moderate Buy” and an average target price of $10.83.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Cubist Systematic Strategies LLC bought a new position in shares of Corvus Pharmaceuticals in the 2nd quarter worth about $44,000. Marshall Wace LLP bought a new position in shares of Corvus Pharmaceuticals in the 2nd quarter worth about $136,000. Avity Investment Management Inc. lifted its position in shares of Corvus Pharmaceuticals by 138.2% in the 3rd quarter. Avity Investment Management Inc. now owns 27,580 shares of the company’s stock worth $146,000 after buying an additional 16,000 shares during the last quarter. Towerview LLC lifted its position in shares of Corvus Pharmaceuticals by 4.6% in the 2nd quarter. Towerview LLC now owns 400,000 shares of the company’s stock worth $728,000 after buying an additional 17,500 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Corvus Pharmaceuticals by 10.6% in 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 last quarter. 46.64% of the stock is owned by institutional investors and hedge funds.

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.