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

Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) was the recipient of a large decline in short interest during the month of March. As of March 31st, there was short interest totalling 1,400,000 shares, a decline of 6.0% from the March 15th total of 1,490,000 shares. Approximately 3.8% of the shares of the stock are short sold. Based on an average daily trading volume, of 212,900 shares, the short-interest ratio is currently 6.6 days.

Institutional Investors Weigh In On Corvus Pharmaceuticals

Large investors have recently added to or reduced their stakes in the stock. American Century Companies Inc. purchased a new stake in Corvus Pharmaceuticals in the 3rd quarter valued at about $27,000. Charles Schwab Investment Management Inc. purchased a new stake in Corvus Pharmaceuticals in the 2nd quarter valued at about $36,000. Tower Research Capital LLC TRC boosted its position in Corvus Pharmaceuticals by 63.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 20,543 shares of the company’s stock valued at $47,000 after buying an additional 7,946 shares during the period. Bank of New York Mellon Corp purchased a new stake in Corvus Pharmaceuticals in the 2nd quarter valued at about $49,000. Finally, Morgan Stanley boosted its position in Corvus Pharmaceuticals by 84.7% in the 4th quarter. Morgan Stanley now owns 72,605 shares of the company’s stock valued at $62,000 after buying an additional 33,288 shares during the period. 46.64% of the stock is owned by hedge funds and other institutional investors.

Corvus Pharmaceuticals Trading Down 7.5 %

Shares of NASDAQ:CRVS opened at $1.36 on Thursday. The company has a market capitalization of $66.69 million, a price-to-earnings ratio of -2.39 and a beta of 1.02. Corvus Pharmaceuticals has a 12 month low of $0.98 and a 12 month high of $4.19. The firm’s 50-day moving average is $1.98 and its 200 day moving average is $1.76.

Corvus Pharmaceuticals (NASDAQ:CRVS) last issued its quarterly earnings results on Tuesday, March 19th. The company reported ($0.14) EPS for the quarter, meeting the consensus estimate of ($0.14). As a group, equities analysts forecast that Corvus Pharmaceuticals will post -0.47 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on CRVS shares. Oppenheimer reduced their target price 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. Mizuho restated a “neutral” rating and issued a $3.50 target price on shares of Corvus Pharmaceuticals in a report on Wednesday, March 27th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Corvus Pharmaceuticals in a report on Monday, April 1st.

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.