Traders Purchase Large Volume of Corvus Pharmaceuticals Put Options (NASDAQ:CRVS)

Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) was the recipient of unusually large options trading activity on Wednesday. Traders purchased 5,716 put options on the stock. This represents an increase of approximately 264% compared to the average volume of 1,570 put options.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Nwam LLC acquired a new position in Corvus Pharmaceuticals during the third quarter valued at approximately $53,000. XTX Topco Ltd acquired a new position in shares of Corvus Pharmaceuticals in the third quarter valued at $74,000. Virtu Financial LLC bought a new position in Corvus Pharmaceuticals in the third quarter worth $83,000. Oppenheimer & Co. Inc. acquired a new stake in Corvus Pharmaceuticals during the third quarter worth $89,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in Corvus Pharmaceuticals during the second quarter worth $44,000. 46.64% of the stock is owned by institutional investors.

Corvus Pharmaceuticals Trading Up 8.3 %

Corvus Pharmaceuticals stock opened at $5.09 on Friday. The company has a market capitalization of $327.07 million, a P/E ratio of -5.47 and a beta of 1.05. The firm’s fifty day simple moving average is $8.14 and its 200-day simple moving average is $5.05. Corvus Pharmaceuticals has a 1-year low of $1.30 and a 1-year high of $10.00.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on CRVS shares. StockNews.com downgraded Corvus Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Thursday, October 31st. Mizuho raised Corvus Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 22nd. LADENBURG THALM/SH SH boosted their price objective on Corvus Pharmaceuticals from $12.00 to $21.00 and gave the stock a “buy” rating in a report on Monday, September 16th. Finally, Oppenheimer upped their price objective on shares of Corvus Pharmaceuticals from $8.00 to $14.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. One analyst has rated the stock with a sell rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Corvus Pharmaceuticals currently has an average rating of “Moderate Buy” and an average target price of $12.83.

Corvus Pharmaceuticals Company Profile

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.