Corvus Pharmaceuticals (NASDAQ:CRVS) Sees Large Volume Increase – Time to Buy?

Shares of Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) saw strong trading volume on Friday . 1,600,753 shares were traded during mid-day trading, an increase of 335% from the previous session’s volume of 367,671 shares.The stock last traded at $8.01 and had previously closed at $8.52.

Analysts Set New Price Targets

CRVS has been the topic of several recent research reports. StockNews.com lowered shares of Corvus Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Thursday, October 31st. Oppenheimer raised their price objective on Corvus Pharmaceuticals from $8.00 to $14.00 and gave the company an “outperform” rating in a research note on Wednesday. LADENBURG THALM/SH SH boosted their target price on Corvus Pharmaceuticals from $12.00 to $21.00 and gave the company a “buy” rating in a research note on Monday, September 16th. Finally, Mizuho upgraded Corvus Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $12.83.

Corvus Pharmaceuticals Stock Performance

The firm has a market cap of $512.28 million, a PE ratio of -8.81 and a beta of 1.05. The company’s 50-day simple moving average is $6.83 and its two-hundred day simple moving average is $4.05.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Nwam LLC purchased a new position in shares of Corvus Pharmaceuticals during the third quarter valued at approximately $53,000. XTX Topco Ltd bought a new position in Corvus Pharmaceuticals in the 3rd quarter worth $74,000. 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 purchasing an additional 16,000 shares during the period. Oppenheimer & Co. Inc. bought a new stake in shares of Corvus Pharmaceuticals during the 3rd quarter valued at about $89,000. Finally, Towerview LLC boosted its position in Corvus Pharmaceuticals by 4.6% during the 2nd quarter. Towerview LLC now owns 400,000 shares of the company’s stock valued at $728,000 after acquiring an additional 17,500 shares in the last quarter. Institutional investors own 46.64% of the company’s stock.

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.