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

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

Corvus Pharmaceuticals Stock Performance

Shares of CRVS stock opened at $1.47 on Wednesday. Corvus Pharmaceuticals has a 1-year low of $0.98 and a 1-year high of $4.19. The firm’s 50-day simple moving average is $2.00 and its 200-day simple moving average is $1.76.

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

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Cantor Fitzgerald restated an “overweight” rating on shares of Corvus Pharmaceuticals in a report on Monday, April 1st. Mizuho reiterated a “neutral” rating and set a $3.50 price objective on shares of Corvus Pharmaceuticals in a report on Wednesday, March 27th. Finally, Oppenheimer cut their price objective 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.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of CRVS. American Century Companies Inc. purchased a new position in Corvus Pharmaceuticals in the third quarter valued at approximately $27,000. Charles Schwab Investment Management Inc. purchased a new position in Corvus Pharmaceuticals in the second quarter valued at approximately $36,000. Tower Research Capital LLC TRC grew its position 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 acquiring an additional 7,946 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in Corvus Pharmaceuticals in the second quarter valued at approximately $49,000. Finally, Morgan Stanley grew its position 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 acquiring an additional 33,288 shares in the last quarter. Hedge funds and other institutional investors 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.