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

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

Institutional Trading of Corvus Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the business. Towerview LLC boosted its holdings in Corvus Pharmaceuticals by 67.1% in the 3rd quarter. Towerview LLC now owns 342,478 shares of the company’s stock worth $500,000 after acquiring an additional 137,478 shares during the period. Two Sigma Advisers LP boosted its holdings in Corvus Pharmaceuticals by 28.6% in the 3rd quarter. Two Sigma Advisers LP now owns 480,100 shares of the company’s stock worth $393,000 after acquiring an additional 106,700 shares during the period. Two Sigma Investments LP boosted its holdings in Corvus Pharmaceuticals by 19.0% in the 3rd quarter. Two Sigma Investments LP now owns 429,708 shares of the company’s stock worth $352,000 after acquiring an additional 68,674 shares during the period. State Street Corp boosted its holdings in Corvus Pharmaceuticals by 22.9% in the 2nd quarter. State Street Corp now owns 138,403 shares of the company’s stock worth $317,000 after acquiring an additional 25,800 shares during the period. Finally, Acadian Asset Management LLC boosted its holdings in Corvus Pharmaceuticals by 72.6% in the 1st quarter. Acadian Asset Management LLC now owns 140,118 shares of the company’s stock worth $228,000 after acquiring an additional 58,952 shares during the period. Institutional investors and hedge funds own 46.64% of the company’s stock.

Corvus Pharmaceuticals Stock Performance

CRVS remained flat at $1.47 on Tuesday. 91,610 shares of the company were exchanged, compared to its average volume of 211,612. The company’s fifty day simple moving average is $2.00 and its 200 day simple moving average is $1.76. The company has a market capitalization of $72.09 million, a P/E ratio of -2.58 and a beta of 1.03. Corvus Pharmaceuticals has a 12-month low of $0.98 and a 12-month high of $4.19.

Corvus Pharmaceuticals (NASDAQ:CRVS) last posted its earnings results on Tuesday, March 19th. The company reported ($0.14) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.14). As a group, equities research analysts forecast that Corvus Pharmaceuticals will post -0.47 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently commented on CRVS shares. Cantor Fitzgerald reiterated an “overweight” rating on shares of Corvus Pharmaceuticals in a research report on Monday, April 1st. Mizuho restated a “neutral” rating and issued a $3.50 price target on shares of Corvus Pharmaceuticals in a report on Wednesday, March 27th. Finally, Oppenheimer lowered their price target on Corvus Pharmaceuticals from $8.00 to $7.00 and set an “outperform” rating for the company in a report on Wednesday, March 20th.

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.