Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) Sees Large Increase in Short Interest

Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS - Get Free Report) was the target of a large growth in short interest in the month of November. As of November 30th, there was short interest totalling 3,510,000 shares, a growth 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 currently 4.5 days.

Corvus Pharmaceuticals Stock Up 7.1 %

CRVS traded up $0.49 on Tuesday, reaching $7.39. The company's stock had a trading volume of 1,149,273 shares, compared to its average volume of 406,800. Corvus Pharmaceuticals has a fifty-two week low of $1.30 and a fifty-two week high of $10.00. The stock has a 50 day moving average of $8.15 and a two-hundred day moving average of $5.02. The company has a market capitalization of $474.86 million, a price-to-earnings ratio of -7.59 and a beta of 1.05.

Wall Street Analysts Forecast Growth

CRVS has been the topic of a number of research reports. Mizuho upgraded Corvus Pharmaceuticals from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, October 22nd. Oppenheimer lifted their target price on Corvus Pharmaceuticals from $8.00 to $14.00 and gave the company an "outperform" rating in a research report on Wednesday, November 13th. StockNews.com cut shares of Corvus Pharmaceuticals from a "hold" rating to a "sell" rating in a research report on Thursday, October 31st. Finally, LADENBURG THALM/SH SH increased their target price on shares of Corvus Pharmaceuticals from $12.00 to $21.00 and gave the stock a "buy" rating in a report on Monday, September 16th. One research analyst has rated the stock with a sell rating, three have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $12.83.

Institutional Investors Weigh In On Corvus Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Samlyn Capital LLC increased its holdings 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 acquiring an additional 3,774,658 shares during the period. Point72 Asset Management L.P. acquired a new position in Corvus Pharmaceuticals in the second quarter valued at $10,855,000. Vanguard Group Inc. increased its stake in Corvus Pharmaceuticals by 10.6% in the first quarter. Vanguard Group Inc. now owns 1,493,357 shares of the company's stock valued at $2,658,000 after purchasing an additional 142,724 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Corvus Pharmaceuticals by 64.7% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 137,031 shares of the company's stock valued at $724,000 after buying an additional 53,809 shares during the last quarter. Finally, Marshall Wace LLP acquired a new stake in shares of Corvus Pharmaceuticals during the second quarter worth about $136,000. Hedge funds and other 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.