Corvus Pharmaceuticals (NASDAQ:CRVS) Sees Unusually-High Trading Volume – Here’s Why

Corvus Pharmaceuticals, Inc. (NASDAQ:CRVSGet Free Report) shares saw strong trading volume on Friday . 1,600,753 shares traded hands during trading, an increase of 335% from the previous session’s volume of 367,671 shares.The stock last traded at $8.01 and had previously closed at $8.52.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Oppenheimer boosted their price target on shares of Corvus Pharmaceuticals from $8.00 to $14.00 and gave the stock an “outperform” rating in a report on Wednesday. Mizuho upgraded shares of 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 target on shares of Corvus Pharmaceuticals from $12.00 to $21.00 and gave the stock a “buy” rating in a report on Monday, September 16th. Finally, StockNews.com cut shares of Corvus Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Thursday, October 31st. One analyst has rated the stock with a sell rating, three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $12.83.

Read Our Latest Analysis on Corvus Pharmaceuticals

Corvus Pharmaceuticals Trading Down 6.1 %

The stock has a market cap of $500.40 million, a price-to-earnings ratio of -8.59 and a beta of 1.05. The stock’s 50 day moving average is $6.66 and its two-hundred day moving average is $3.97.

Hedge Funds Weigh In On Corvus Pharmaceuticals

Large investors have recently bought and sold shares of the company. Samlyn Capital LLC raised its position in Corvus Pharmaceuticals by 160.7% during the 2nd quarter. Samlyn Capital LLC now owns 6,123,021 shares of the company’s stock worth $11,144,000 after buying an additional 3,774,658 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in Corvus Pharmaceuticals during the 2nd quarter worth $10,855,000. Vanguard Group Inc. raised its position in Corvus Pharmaceuticals by 10.6% during the 1st quarter. Vanguard Group Inc. now owns 1,493,357 shares of the company’s stock worth $2,658,000 after buying an additional 142,724 shares during the last quarter. Marshall Wace LLP purchased a new position in Corvus Pharmaceuticals during the 2nd quarter worth $136,000. Finally, Cubist Systematic Strategies LLC purchased a new position in Corvus Pharmaceuticals during the 2nd quarter worth $44,000. Hedge funds and other institutional investors own 46.64% of the company’s stock.

About Corvus Pharmaceuticals

(Get Free Report)

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.

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