Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) was the recipient of a large increase in short interest in October. As of October 13th, there was short interest totalling 1,293,252 shares, an increase of 39.6% from the September 29th total of 926,344 shares. Currently, 9.5% of the shares of the stock are sold short. Based on an average daily volume of 75,031 shares, the days-to-cover ratio is presently 17.2 days.
Large investors have recently bought and sold shares of the stock. Russell Investments Group Ltd. raised its position in Corvus Pharmaceuticals by 29.3% during the second quarter. Russell Investments Group Ltd. now owns 9,286 shares of the company’s stock valued at $112,000 after buying an additional 2,105 shares during the period. New York State Common Retirement Fund raised its position in Corvus Pharmaceuticals by 2,269.1% during the second quarter. New York State Common Retirement Fund now owns 9,500 shares of the company’s stock valued at $115,000 after buying an additional 9,099 shares during the period. TIAA CREF Investment Management LLC raised its position in Corvus Pharmaceuticals by 43.3% during the first quarter. TIAA CREF Investment Management LLC now owns 7,181 shares of the company’s stock valued at $149,000 after buying an additional 2,170 shares during the period. Alliancebernstein L.P. acquired a new position in Corvus Pharmaceuticals during the second quarter valued at $175,000. Finally, California State Teachers Retirement System raised its position in Corvus Pharmaceuticals by 121.2% during the second quarter. California State Teachers Retirement System now owns 14,967 shares of the company’s stock valued at $181,000 after buying an additional 8,200 shares during the period. 83.63% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts recently commented on CRVS shares. Zacks Investment Research upgraded Corvus Pharmaceuticals from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a research report on Monday, August 28th. Credit Suisse Group upgraded Corvus Pharmaceuticals from an “underperform” rating to a “neutral” rating and set a $14.00 price objective for the company in a research report on Wednesday, August 23rd. Wedbush reiterated an “outperform” rating and set a $26.00 price objective on shares of Corvus Pharmaceuticals in a research report on Tuesday, August 8th. Finally, Cowen and Company reiterated an “outperform” rating on shares of Corvus Pharmaceuticals in a research report on Tuesday, July 4th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Corvus Pharmaceuticals currently has a consensus rating of “Buy” and an average target price of $20.75.
Shares of Corvus Pharmaceuticals (CRVS
) opened at 14.53 on Friday. Corvus Pharmaceuticals has a 52 week low of $13.01 and a 52 week high of $17.64. The firm has a 50-day moving average price of $16.10 and a 200-day moving average price of $16.10. The firm’s market capitalization is $304.17 million.
Corvus Pharmaceuticals (NASDAQ:CRVS) last posted its quarterly earnings results on Thursday, August 3rd. The company reported ($0.73) earnings per share for the quarter, beating the consensus estimate of ($0.76) by $0.03. On average, equities analysts expect that Corvus Pharmaceuticals will post ($3.18) earnings per share for the current fiscal year.
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About Corvus Pharmaceuticals
Corvus Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company. The Company is focused on the development and commercialization of immuno-oncology therapies. The Company is developing drugs and antibodies that block crucial immune checkpoints and reprogram immune T-cells. The Company has a pipeline of four immuno-oncology programs, three of which focus on the adenosine-cancer axis to modulate an immune response.
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