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

Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS - Get Free Report) was the target of a significant growth in short interest in the month of May. As of May 15th, there was short interest totalling 7,230,000 shares, a growth of 25.3% from the April 30th total of 5,770,000 shares. Based on an average trading volume of 1,010,000 shares, the days-to-cover ratio is presently 7.2 days. Approximately 16.4% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CRVS. Oppenheimer restated an "outperform" rating and set a $17.00 target price (up from $15.00) on shares of Corvus Pharmaceuticals in a research report on Friday, May 9th. HC Wainwright reissued a "buy" rating and issued a $11.00 target price on shares of Corvus Pharmaceuticals in a research report on Wednesday, March 26th. Mizuho set a $11.00 price target on Corvus Pharmaceuticals and gave the stock an "outperform" rating in a research note on Tuesday, May 20th. Finally, Wall Street Zen downgraded Corvus Pharmaceuticals from a "hold" rating to a "sell" rating in a research note on Tuesday, May 20th. One analyst has rated the stock with a sell rating and four have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $15.00.

Corvus Pharmaceuticals Stock Performance

Shares of CRVS stock traded up $0.12 on Thursday, reaching $3.87. The stock had a trading volume of 233,015 shares, compared to its average volume of 824,126. The stock has a market cap of $263.81 million, a P/E ratio of -4.16 and a beta of 0.67. Corvus Pharmaceuticals has a 1 year low of $1.75 and a 1 year high of $10.00. The company has a 50 day simple moving average of $3.44 and a 200 day simple moving average of $4.87.

Corvus Pharmaceuticals (NASDAQ:CRVS - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported ($0.13) EPS for the quarter, hitting analysts' consensus estimates of ($0.13). On average, equities research analysts anticipate that Corvus Pharmaceuticals will post -0.63 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Corvus Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the business. Virtus ETF Advisers LLC bought a new stake in Corvus Pharmaceuticals during the fourth quarter valued at about $47,000. PKS Advisory Services LLC bought a new stake in shares of Corvus Pharmaceuticals in the fourth quarter worth about $56,000. Alpine Global Management LLC bought a new stake in shares of Corvus Pharmaceuticals in the fourth quarter worth about $62,000. Sowell Financial Services LLC bought a new stake in shares of Corvus Pharmaceuticals in the first quarter worth about $38,000. Finally, ExodusPoint Capital Management LP bought a new stake in shares of Corvus Pharmaceuticals in the fourth quarter worth about $72,000. 46.64% of the stock is owned by institutional investors.

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.