Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) Short Interest Down 6.0% in March

Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS - Get Free Report) was the target of a significant decrease in short interest during the month of March. As of March 31st, there was short interest totalling 1,400,000 shares, a decrease of 6.0% from the March 15th total of 1,490,000 shares. Based on an average daily volume of 212,900 shares, the days-to-cover ratio is presently 6.6 days. Currently, 3.8% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Mizuho reaffirmed a "neutral" rating and set a $3.50 price objective on shares of Corvus Pharmaceuticals in a report on Wednesday, March 27th. Oppenheimer lowered their price target on shares of Corvus Pharmaceuticals from $8.00 to $7.00 and set an "outperform" rating on the stock in a report on Wednesday, March 20th. Finally, Cantor Fitzgerald reissued an "overweight" rating on shares of Corvus Pharmaceuticals in a report on Monday, April 1st.

Corvus Pharmaceuticals Stock Performance

Shares of Corvus Pharmaceuticals stock remained flat at $1.47 on Tuesday. 91,610 shares of the stock were exchanged, compared to its average volume of 211,786. Corvus Pharmaceuticals has a 52-week low of $0.98 and a 52-week high of $4.19. The stock has a market capitalization of $72.09 million, a P/E ratio of -2.58 and a beta of 1.03. The stock's 50-day moving average price is $2.00 and its 200 day moving average price is $1.76.

Corvus Pharmaceuticals (NASDAQ:CRVS - Get Free Report) last announced its quarterly earnings results on Tuesday, March 19th. The company reported ($0.14) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.14). On average, research analysts forecast that Corvus Pharmaceuticals will post -0.47 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Corvus Pharmaceuticals by 3.5% in the third quarter. Vanguard Group Inc. now owns 1,346,932 shares of the company's stock worth $1,967,000 after purchasing an additional 45,707 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of Corvus Pharmaceuticals by 1.3% in the third quarter. Renaissance Technologies LLC now owns 975,519 shares of the company's stock worth $798,000 after purchasing an additional 12,587 shares during the last quarter. BlackRock Inc. grew its position in Corvus Pharmaceuticals by 7.9% during the second quarter. BlackRock Inc. now owns 532,381 shares of the company's stock valued at $1,219,000 after acquiring an additional 39,159 shares during the last quarter. Two Sigma Advisers LP grew its position in Corvus Pharmaceuticals by 28.6% during the third quarter. Two Sigma Advisers LP now owns 480,100 shares of the company's stock valued at $393,000 after acquiring an additional 106,700 shares during the last quarter. Finally, Towerview LLC grew its position in Corvus Pharmaceuticals by 27.6% during the fourth quarter. Towerview LLC now owns 436,873 shares of the company's stock valued at $769,000 after acquiring an additional 94,395 shares during the last quarter. 46.64% of the stock is currently owned by institutional investors.

About Corvus Pharmaceuticals

Corvus Pharmaceuticals, Inc, a clinical stage biopharmaceutical company, focuses on the development and commercialization of immuno-oncology therapies. Its lead product candidate is Mupadolimab (CPI-006), an anti-CD73 monoclonal antibody, which is in Phase I/Ib clinical trial for non-small cell lung cancer and head and neck cancers.