Short Interest in Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) Expands By 31.1%

Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) was the target of a significant increase in short interest during the month of September. As of September 30th, there was short interest totalling 2,150,000 shares, an increase of 31.1% from the September 15th total of 1,640,000 shares. Based on an average trading volume of 398,000 shares, the short-interest ratio is presently 5.4 days.

Institutional Trading of Corvus Pharmaceuticals

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised 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 period. Towerview LLC raised its holdings 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 purchasing an additional 17,500 shares during the period. Samlyn Capital LLC lifted its stake in shares of Corvus Pharmaceuticals by 160.7% in 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. Marshall Wace LLP purchased a new stake in shares of Corvus Pharmaceuticals during the 2nd quarter worth about $136,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in Corvus Pharmaceuticals during the 2nd quarter worth approximately $44,000. 46.64% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on CRVS shares. LADENBURG THALM/SH SH boosted their target price on shares of Corvus Pharmaceuticals from $12.00 to $21.00 and gave the company a “buy” rating in a research note on Monday, September 16th. StockNews.com downgraded shares of Corvus Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Corvus Pharmaceuticals currently has a consensus rating of “Hold” and a consensus price target of $10.83.

Corvus Pharmaceuticals Stock Performance

NASDAQ CRVS traded down $0.07 during trading hours on Tuesday, hitting $6.72. 700,514 shares of the company’s stock were exchanged, compared to its average volume of 285,856. The firm has a market capitalization of $420.34 million, a P/E ratio of -12.21 and a beta of 1.14. The business’s 50 day moving average is $4.72 and its 200-day moving average is $2.94. Corvus Pharmaceuticals has a 12-month low of $1.05 and a 12-month high of $6.98.

Corvus Pharmaceuticals (NASDAQ:CRVS) last released its earnings results 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 quarter last year, the firm earned ($0.14) earnings per share. As a group, equities research analysts anticipate that Corvus Pharmaceuticals will post -0.45 EPS for the current fiscal year.

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.