Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) Sees Significant Growth in Short Interest

Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) was the recipient of a significant increase in short interest in the month of November. As of November 30th, there was short interest totalling 3,510,000 shares, an increase of 6.4% from the November 15th total of 3,300,000 shares. Based on an average trading volume of 771,600 shares, the short-interest ratio is presently 4.5 days.

Analyst Upgrades and Downgrades

CRVS has been the topic of several research analyst reports. Oppenheimer lifted 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, November 13th. Mizuho upgraded shares of Corvus Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 22nd. LADENBURG THALM/SH SH raised 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. Finally, StockNews.com cut shares of Corvus Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Thursday, October 31st. One analyst has rated the stock with a sell rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Corvus Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus target price of $12.83.

Institutional Trading of Corvus Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the stock. Samlyn Capital LLC increased its position 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 worth $11,144,000 after purchasing an additional 3,774,658 shares during the last quarter. Point72 Asset Management L.P. bought a new position in Corvus Pharmaceuticals during the 2nd quarter worth approximately $10,855,000. Vanguard Group Inc. grew 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 acquiring an additional 142,724 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Corvus Pharmaceuticals by 64.7% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 137,031 shares of the company’s stock valued at $724,000 after acquiring an additional 53,809 shares during the last quarter. Finally, Marshall Wace LLP acquired a new stake in shares of Corvus Pharmaceuticals during the 2nd quarter valued at approximately $136,000. 46.64% of the stock is owned by institutional investors and hedge funds.

Corvus Pharmaceuticals Stock Up 5.5 %

Shares of CRVS traded up $0.38 during trading on Tuesday, reaching $7.28. The company’s stock had a trading volume of 791,575 shares, compared to its average volume of 404,798. The company has a market cap of $467.79 million, a price-to-earnings ratio of -7.59 and a beta of 1.05. The company has a fifty day moving average of $8.15 and a two-hundred day moving average of $5.02. Corvus Pharmaceuticals has a twelve month low of $1.30 and a twelve month high of $10.00.

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.