Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) Sees Significant Drop in Short Interest

Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) saw a large drop in short interest during the month of July. As of July 31st, there was short interest totalling 1,150,000 shares, a drop of 8.0% from the July 15th total of 1,250,000 shares. Based on an average daily volume of 246,500 shares, the days-to-cover ratio is currently 4.7 days.

Corvus Pharmaceuticals Trading Up 7.9 %

Shares of NASDAQ:CRVS opened at $4.10 on Monday. The firm’s 50 day moving average is $2.39 and its two-hundred day moving average is $2.11. The firm has a market capitalization of $256.46 million, a P/E ratio of -7.88 and a beta of 1.11. Corvus Pharmaceuticals has a 52 week low of $1.05 and a 52 week high of $4.10.

Corvus Pharmaceuticals (NASDAQ:CRVS) last released its earnings results on Tuesday, August 6th. The company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.12) by $0.05. During the same quarter last year, the firm posted ($0.14) EPS. Analysts predict that Corvus Pharmaceuticals will post -0.49 EPS for the current year.

Analysts Set New Price Targets

Separately, Oppenheimer raised their target price on Corvus Pharmaceuticals from $7.00 to $8.00 and gave the company an “outperform” rating in a report on Tuesday, May 7th.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CRVS. Cubist Systematic Strategies LLC acquired a new position in Corvus Pharmaceuticals during the second quarter valued at $44,000. Marshall Wace LLP acquired a new position in shares of Corvus Pharmaceuticals in the second quarter worth $136,000. Samlyn Capital LLC raised 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 worth $11,144,000 after acquiring an additional 3,774,658 shares in the last quarter. Towerview LLC boosted its position in Corvus Pharmaceuticals by 4.6% during the second quarter. Towerview LLC now owns 400,000 shares of the company’s stock valued at $728,000 after purchasing an additional 17,500 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of Corvus Pharmaceuticals by 10.6% in the 1st 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 in the last quarter. Institutional investors own 46.64% of the company’s stock.

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.