Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) Short Interest Update

Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) saw a significant growth in short interest in August. As of August 15th, there was short interest totalling 1,370,000 shares, a growth of 19.1% from the July 31st total of 1,150,000 shares. Based on an average daily trading volume, of 257,900 shares, the short-interest ratio is presently 5.3 days.

Hedge Funds Weigh In On Corvus Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of CRVS. Point72 Asset Management L.P. purchased a new position in Corvus Pharmaceuticals in the second quarter worth $10,855,000. Samlyn Capital LLC grew its holdings in shares of Corvus Pharmaceuticals by 160.7% during the second quarter. Samlyn Capital LLC now owns 6,123,021 shares of the company’s stock valued at $11,144,000 after buying an additional 3,774,658 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Corvus Pharmaceuticals by 10.6% during the first quarter. Vanguard Group Inc. now owns 1,493,357 shares of the company’s stock valued at $2,658,000 after buying an additional 142,724 shares during the last quarter. Marshall Wace LLP purchased a new stake in shares of Corvus Pharmaceuticals during the second quarter valued at $136,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of Corvus Pharmaceuticals during the second quarter valued at $44,000. 46.64% of the stock is owned by hedge funds and other institutional investors.

Corvus Pharmaceuticals Trading Up 8.2 %

NASDAQ CRVS opened at $4.48 on Friday. The firm’s fifty day simple moving average is $2.83 and its two-hundred day simple moving average is $2.25. Corvus Pharmaceuticals has a 12-month low of $1.05 and a 12-month high of $4.75. The firm has a market capitalization of $280.23 million, a P/E ratio of -8.62 and a beta of 1.11.

Corvus Pharmaceuticals (NASDAQ:CRVS) last released its quarterly earnings results on Tuesday, August 6th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.05. During the same quarter in the previous year, the business earned ($0.14) earnings per share. As a group, sell-side analysts predict that Corvus Pharmaceuticals will post -0.49 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Oppenheimer boosted their price objective on shares of Corvus Pharmaceuticals from $7.00 to $8.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 7th.

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.