Corvus Pharmaceuticals (NASDAQ:CRVS) Sees Large Volume Increase - What's Next?

Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS - Get Free Report) saw unusually-high trading volume on Friday . Approximately 1,600,753 shares were traded during 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.

Analyst Ratings Changes

Several research firms recently commented on CRVS. StockNews.com downgraded Corvus Pharmaceuticals from a "hold" rating to a "sell" rating in a research note on Thursday, October 31st. Oppenheimer increased their target price on shares of Corvus Pharmaceuticals from $8.00 to $14.00 and gave the company an "outperform" rating in a research report on Wednesday. Mizuho upgraded shares of Corvus Pharmaceuticals from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, October 22nd. Finally, LADENBURG THALM/SH SH upped their price objective 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. One research 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. According to MarketBeat, Corvus Pharmaceuticals currently has a consensus rating of "Moderate Buy" and an average price target of $12.83.

Corvus Pharmaceuticals Stock Performance

The business has a 50 day simple moving average of $6.83 and a 200-day simple moving average of $4.05. The firm has a market capitalization of $512.28 million, a price-to-earnings ratio of -8.81 and a beta of 1.05.

Hedge Funds Weigh In On Corvus Pharmaceuticals

Institutional investors have recently bought and sold shares of the company. Samlyn Capital LLC increased its holdings in shares of Corvus Pharmaceuticals by 160.7% during the 2nd quarter. Samlyn Capital LLC now owns 6,123,021 shares of the company's stock worth $11,144,000 after buying an additional 3,774,658 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in shares of Corvus Pharmaceuticals in the 2nd quarter valued at $10,855,000. Vanguard Group Inc. grew its holdings in shares of Corvus Pharmaceuticals by 10.6% during the 1st quarter. Vanguard Group Inc. now owns 1,493,357 shares of the company's stock worth $2,658,000 after purchasing an additional 142,724 shares during the period. Geode Capital Management LLC raised its holdings in Corvus Pharmaceuticals by 22.4% in the 3rd quarter. Geode Capital Management LLC now owns 563,009 shares of the company's stock valued at $2,974,000 after buying an additional 102,869 shares during the period. Finally, Towerview LLC boosted its stake in Corvus Pharmaceuticals by 4.6% during the second quarter. Towerview LLC now owns 400,000 shares of the company's stock worth $728,000 after buying an additional 17,500 shares during the period. 46.64% of the stock is owned by hedge funds and other institutional investors.

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.