Corvus Pharmaceuticals (NASDAQ:CRVS) Sees Unusually-High Trading Volume - Still a Buy?

Shares of Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS - Get Free Report) saw strong trading volume on Monday . 367,985 shares traded hands during trading, an increase of 11% from the previous session's volume of 332,056 shares.The stock last traded at $8.25 and had previously closed at $9.10.

Analyst Upgrades and Downgrades

CRVS has been the topic of several research analyst reports. StockNews.com cut shares of Corvus Pharmaceuticals from a "hold" rating to a "sell" rating in a research note on Thursday. LADENBURG THALM/SH SH increased their price target on Corvus Pharmaceuticals from $12.00 to $21.00 and gave the stock a "buy" rating in a research report on Monday, September 16th. Finally, Mizuho upgraded Corvus Pharmaceuticals from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, three have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $10.83.

Corvus Pharmaceuticals Price Performance

The firm has a market capitalization of $564.20 million, a P/E ratio of -19.73 and a beta of 1.04. The company's 50 day moving average price is $5.88 and its 200 day moving average price is $3.56.

Corvus Pharmaceuticals (NASDAQ:CRVS - Get Free Report) last released its earnings results on Tuesday, August 6th. The company reported ($0.07) earnings per share for the quarter, topping analysts' consensus estimates of ($0.12) by $0.05. During the same period in the prior year, the company posted ($0.14) EPS. On average, research analysts anticipate that Corvus Pharmaceuticals, Inc. will post -0.45 EPS for the current fiscal year.

Institutional Investors Weigh In On Corvus Pharmaceuticals

Several institutional investors have recently modified their holdings of the business. Vanguard Group Inc. increased its holdings 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 last quarter. Towerview LLC increased its stake in shares of Corvus Pharmaceuticals by 4.6% in the 2nd quarter. Towerview LLC now owns 400,000 shares of the company's stock valued at $728,000 after acquiring an additional 17,500 shares during the last quarter. Samlyn Capital LLC raised 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 valued at $11,144,000 after acquiring an additional 3,774,658 shares during the period. Marshall Wace LLP bought a new position in Corvus Pharmaceuticals during the 2nd quarter worth approximately $136,000. Finally, Cubist Systematic Strategies LLC acquired a new position in Corvus Pharmaceuticals during the second quarter valued at approximately $44,000. Institutional investors and hedge funds own 46.64% of the company's stock.

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.