Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) was the recipient of a large increase in short interest in the month of October. As of October 13th, there was short interest totalling 1,293,252 shares, an increase of 39.6% from the September 29th total of 926,344 shares. Currently, 9.5% of the company’s shares are short sold. Based on an average daily volume of 75,031 shares, the short-interest ratio is presently 17.2 days.
Shares of Corvus Pharmaceuticals (NASDAQ CRVS) opened at 14.74 on Tuesday. The company’s 50-day moving average is $15.96 and its 200-day moving average is $15.96. Corvus Pharmaceuticals has a one year low of $8.27 and a one year high of $22.14. The company’s market cap is $308.57 million.
Corvus Pharmaceuticals (NASDAQ:CRVS) last announced its earnings results on Thursday, August 3rd. The company reported ($0.73) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.76) by $0.03. On average, equities analysts predict that Corvus Pharmaceuticals will post ($3.18) EPS for the current year.
A number of hedge funds have recently made changes to their positions in the business. Jennison Associates LLC boosted its stake in Corvus Pharmaceuticals by 87.4% during the second quarter. Jennison Associates LLC now owns 1,019,013 shares of the company’s stock worth $12,330,000 after buying an additional 475,164 shares during the period. EcoR1 Capital LLC purchased a new position in Corvus Pharmaceuticals during the second quarter worth about $9,741,000. Point72 Asset Management L.P. purchased a new position in Corvus Pharmaceuticals during the first quarter worth about $8,480,000. Vanguard Group Inc. boosted its stake in Corvus Pharmaceuticals by 37.1% during the second quarter. Vanguard Group Inc. now owns 373,512 shares of the company’s stock worth $4,520,000 after buying an additional 101,013 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in Corvus Pharmaceuticals by 116.0% during the second quarter. JPMorgan Chase & Co. now owns 332,634 shares of the company’s stock worth $4,025,000 after buying an additional 178,658 shares during the period. 83.62% of the stock is owned by institutional investors.
A number of equities analysts recently commented on CRVS shares. Zacks Investment Research raised shares of Corvus Pharmaceuticals from a “hold” rating to a “buy” rating and set a $18.00 price target for the company in a research note on Wednesday, September 6th. Credit Suisse Group raised shares of Corvus Pharmaceuticals from an “underperform” rating to a “neutral” rating and set a $14.00 price target for the company in a research note on Wednesday, August 23rd. Finally, Wedbush started coverage on shares of Corvus Pharmaceuticals in a research note on Wednesday, August 2nd. They set an “outperform” rating and a $26.00 price target for the company. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $20.75.
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About Corvus Pharmaceuticals
Corvus Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company. The Company is focused on the development and commercialization of immuno-oncology therapies. The Company is developing drugs and antibodies that block crucial immune checkpoints and reprogram immune T-cells. The Company has a pipeline of four immuno-oncology programs, three of which focus on the adenosine-cancer axis to modulate an immune response.
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