Corvus Pharmaceuticals Inc (NASDAQ:CRVS) was the target of a large growth in short interest in the month of July. As of July 31st, there was short interest totalling 1,139,000 shares, a growth of 34.2% from the June 30th total of 848,500 shares. Currently, 5.8% of the company’s stock are sold short. Based on an average trading volume of 209,300 shares, the days-to-cover ratio is presently 5.4 days.
Several equities research analysts have commented on CRVS shares. Roth Capital started coverage on Corvus Pharmaceuticals in a research note on Wednesday, May 29th. They set a “buy” rating and a $6.00 price objective for the company. Zacks Investment Research upgraded Corvus Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Monday, July 15th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $9.19.
In other Corvus Pharmaceuticals news, CFO Leiv Lea purchased 15,500 shares of Corvus Pharmaceuticals stock in a transaction that occurred on Thursday, June 6th. The stock was bought at an average price of $3.56 per share, with a total value of $55,180.00. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Richard A. Md Miller purchased 9,212 shares of Corvus Pharmaceuticals stock in a transaction that occurred on Friday, June 7th. The stock was acquired at an average cost of $3.37 per share, with a total value of $31,044.44. The disclosure for this purchase can be found here. Insiders bought a total of 880,690 shares of company stock worth $3,223,227 over the last quarter. Company insiders own 40.40% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Raymond James Trust N.A. acquired a new stake in Corvus Pharmaceuticals during the 1st quarter valued at approximately $53,000. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Corvus Pharmaceuticals by 18.3% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 58,951 shares of the company’s stock valued at $237,000 after acquiring an additional 9,101 shares during the period. Millennium Management LLC increased its holdings in shares of Corvus Pharmaceuticals by 61.2% in the 4th quarter. Millennium Management LLC now owns 60,248 shares of the company’s stock valued at $221,000 after acquiring an additional 22,878 shares during the period. Two Sigma Investments LP purchased a new position in shares of Corvus Pharmaceuticals in the 4th quarter valued at $252,000. Finally, Squarepoint Ops LLC increased its holdings in shares of Corvus Pharmaceuticals by 44.5% in the 4th quarter. Squarepoint Ops LLC now owns 73,454 shares of the company’s stock valued at $270,000 after acquiring an additional 22,630 shares during the period. 84.46% of the stock is currently owned by institutional investors and hedge funds.
Corvus Pharmaceuticals stock traded down $0.30 during trading hours on Monday, hitting $4.02. The company had a trading volume of 228,900 shares, compared to its average volume of 139,851. The company has a debt-to-equity ratio of 0.03, a quick ratio of 9.17 and a current ratio of 9.17. The company’s fifty day moving average is $4.75. Corvus Pharmaceuticals has a fifty-two week low of $3.22 and a fifty-two week high of $11.23.
Corvus Pharmaceuticals (NASDAQ:CRVS) last released its quarterly earnings data on Thursday, August 1st. The company reported ($0.44) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.42) by ($0.02). Equities analysts anticipate that Corvus Pharmaceuticals will post -1.59 EPS for the current fiscal year.
About Corvus Pharmaceuticals
Corvus Pharmaceuticals, Inc, a clinical stage biopharmaceutical company, focuses on the development and commercialization of immuno-oncology therapies. Its lead product candidate is CPI-444, an oral, small molecule antagonist of the A2A receptor that is in Phase I/Ib clinical trial for adenosine, an immune checkpoint.
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