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

Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) was the recipient of a significant decline in short interest in 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. Currently, 3.8% of the shares of the company are sold short. Based on an average daily volume of 212,900 shares, the days-to-cover ratio is currently 6.6 days.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Cantor Fitzgerald reissued an “overweight” rating on shares of Corvus Pharmaceuticals in a report on Monday, April 1st. Mizuho reiterated a “neutral” rating and issued a $3.50 price target on shares of Corvus Pharmaceuticals in a research report on Wednesday, March 27th. Finally, Oppenheimer dropped their price target on shares of Corvus Pharmaceuticals from $8.00 to $7.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 20th.

Corvus Pharmaceuticals Stock Down 7.5 %

Corvus Pharmaceuticals stock opened at $1.36 on Thursday. The business’s 50-day simple moving average is $1.98 and its 200 day simple moving average is $1.76. The stock has a market cap 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.

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

Hedge Funds Weigh In On Corvus Pharmaceuticals

Hedge funds have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. acquired a new position in Corvus Pharmaceuticals in the second quarter valued at about $36,000. American Century Companies Inc. acquired a new position in Corvus Pharmaceuticals in the third quarter valued at about $27,000. Tower Research Capital LLC TRC lifted its stake in Corvus Pharmaceuticals by 63.1% in the second 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 acquired a new position in Corvus Pharmaceuticals in the second quarter valued at about $49,000. Finally, Morgan Stanley lifted its stake in Corvus Pharmaceuticals by 84.7% in the fourth 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. Institutional investors and hedge funds own 46.64% of the company’s stock.

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.