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

Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) saw a significant decrease in short interest in 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. Approximately 3.8% of the shares of the company are sold short. Based on an average daily volume of 212,900 shares, the short-interest ratio is presently 6.6 days.

Institutional Trading of Corvus Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its stake in Corvus Pharmaceuticals by 3.5% during the third quarter. Vanguard Group Inc. now owns 1,346,932 shares of the company’s stock valued at $1,967,000 after acquiring an additional 45,707 shares in the last quarter. Renaissance Technologies LLC grew its stake in Corvus Pharmaceuticals by 1.3% during the third quarter. Renaissance Technologies LLC now owns 975,519 shares of the company’s stock valued at $798,000 after acquiring an additional 12,587 shares in the last quarter. BlackRock Inc. grew its stake 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 in the last quarter. Two Sigma Advisers LP grew its stake 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 in the last quarter. Finally, Towerview LLC grew its stake 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 in the last quarter. 46.64% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CRVS has been the topic of a number of research analyst reports. Cantor Fitzgerald restated an “overweight” rating on shares of Corvus Pharmaceuticals in a research report on Monday, April 1st. Oppenheimer reduced their target price on shares of Corvus Pharmaceuticals from $8.00 to $7.00 and set an “outperform” rating for the company in a report on Wednesday, March 20th. Finally, Mizuho reaffirmed a “neutral” rating and set a $3.50 target price on shares of Corvus Pharmaceuticals in a report on Wednesday, March 27th.

Corvus Pharmaceuticals Price Performance

Shares of NASDAQ CRVS remained flat at $1.47 during midday trading on Tuesday. 91,610 shares of the stock were exchanged, compared to its average volume of 211,612. The business’s 50-day simple moving average is $2.00 and its 200-day simple moving average is $1.76. The company has a market cap of $72.09 million, a P/E ratio of -2.58 and a beta of 1.03. Corvus Pharmaceuticals has a 1 year low of $0.98 and a 1 year high of $4.19.

Corvus Pharmaceuticals (NASDAQ:CRVS) last announced its quarterly earnings data on Tuesday, March 19th. The company reported ($0.14) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.14). Sell-side analysts predict that Corvus Pharmaceuticals will post -0.47 earnings per share for the current fiscal year.

Corvus Pharmaceuticals Company Profile

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.