Corvus Pharmaceuticals Sees Unusually High Options Volume (NASDAQ:CRVS)

Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) was the recipient of unusually large options trading on Friday. Stock investors acquired 4,856 put options on the company. This represents an increase of 80% compared to the typical volume of 2,692 put options.

Analysts Set New Price Targets

A number of research firms have commented on CRVS. Jefferies Financial Group increased their price target on Corvus Pharmaceuticals from $13.00 to $42.00 and gave the company a “buy” rating in a research note on Thursday, January 22nd. HC Wainwright increased their price target on Corvus Pharmaceuticals from $11.00 to $27.00 and gave the company a “buy” rating in a research note on Tuesday, January 20th. Weiss Ratings upgraded Corvus Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, April 29th. Oppenheimer reiterated an “outperform” rating and issued a $33.00 price target (up from $32.00) on shares of Corvus Pharmaceuticals in a research note on Friday, March 13th. Finally, The Goldman Sachs Group began coverage on Corvus Pharmaceuticals in a research note on Friday, April 17th. They issued a “buy” rating and a $40.00 price target for the company. Seven investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $33.33.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. GSA Capital Partners LLP raised its stake in shares of Corvus Pharmaceuticals by 25.9% in the third quarter. GSA Capital Partners LLP now owns 401,407 shares of the company’s stock worth $2,958,000 after purchasing an additional 82,675 shares during the last quarter. NEOS Investment Management LLC purchased a new position in shares of Corvus Pharmaceuticals in the third quarter worth about $436,000. Bank of New York Mellon Corp raised its stake in shares of Corvus Pharmaceuticals by 40.8% in the first quarter. Bank of New York Mellon Corp now owns 185,347 shares of the company’s stock worth $2,712,000 after purchasing an additional 53,719 shares during the last quarter. Emerald Mutual Fund Advisers Trust purchased a new position in shares of Corvus Pharmaceuticals in the first quarter worth about $6,719,000. Finally, SG Americas Securities LLC raised its stake in shares of Corvus Pharmaceuticals by 76.9% in the first quarter. SG Americas Securities LLC now owns 35,420 shares of the company’s stock worth $518,000 after purchasing an additional 15,399 shares during the last quarter. 46.64% of the stock is currently owned by hedge funds and other institutional investors.

Corvus Pharmaceuticals Price Performance

Corvus Pharmaceuticals stock traded down $1.31 during midday trading on Friday, reaching $12.34. The company’s stock had a trading volume of 2,633,947 shares, compared to its average volume of 2,731,189. The stock’s 50-day simple moving average is $15.25 and its 200-day simple moving average is $13.11. Corvus Pharmaceuticals has a 52-week low of $3.38 and a 52-week high of $26.95. The stock has a market capitalization of $1.04 billion, a P/E ratio of -23.46 and a beta of 0.94.

Corvus Pharmaceuticals (NASDAQ:CRVS) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.01). As a group, equities research analysts expect that Corvus Pharmaceuticals will post -0.66 earnings per share for the current fiscal year.

Corvus Pharmaceuticals Company Profile

Corvus Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of next-generation immuno-oncology therapies. The company’s research efforts are centered on harnessing both the innate and adaptive immune systems to counteract tumor-driven immunosuppression. By targeting key pathways that regulate immune cell function, Corvus aims to create novel agents that can be combined with existing cancer treatments to improve patient outcomes.

Corvus’s lead pipeline candidates include small-molecule and antibody therapies designed to inhibit the adenosine pathway, a known mediator of tumor immune escape.