Short Interest in Corvus Pharmaceuticals Inc (NASDAQ:CRVS) Grows By 29.2%

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Corvus Pharmaceuticals Inc (NASDAQ:CRVS) saw a large increase in short interest in June. As of June 30th, there was short interest totalling 1,653,200 shares, an increase of 29.2% from the May 30th total of 1,279,500 shares. Based on an average daily trading volume, of 155,600 shares, the days-to-cover ratio is currently 10.6 days. Currently, 8.4% of the company’s shares are sold short.

Several equities analysts have recently commented on the company. Zacks Investment Research raised DLH from a “sell” rating to a “hold” rating in a research note on Tuesday, July 9th. Roth Capital assumed coverage on Forty Seven in a research note on Wednesday, May 29th. They issued a “buy” rating and a $28.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the stock. Corvus Pharmaceuticals currently has an average rating of “Hold” and a consensus price target of $9.19.

Shares of Corvus Pharmaceuticals stock traded up $0.13 during trading hours on Friday, hitting $5.61. The company’s stock had a trading volume of 144,772 shares, compared to its average volume of 360,642. Corvus Pharmaceuticals has a twelve month low of $3.22 and a twelve month high of $11.38. The company’s fifty day simple moving average is $4.16. The company has a quick ratio of 12.39, a current ratio of 12.39 and a debt-to-equity ratio of 0.03.

Corvus Pharmaceuticals (NASDAQ:CRVS) last announced its quarterly earnings results on Thursday, May 9th. The company reported ($0.40) EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.40). As a group, equities analysts expect that Corvus Pharmaceuticals will post -1.61 earnings per share for the current year.

In related news, CEO Richard A. Md Miller bought 9,212 shares of the company’s stock in a transaction on Friday, June 7th. The stock was bought at an average cost of $3.37 per share, for a total transaction of $31,044.44. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Leiv Lea bought 15,500 shares of the company’s stock in a transaction 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 disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 730,534 shares of company stock valued at $2,695,804. 40.40% of the stock is owned by company insiders.

Several institutional investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP lifted its stake in shares of Corvus Pharmaceuticals by 29.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 336,327 shares of the company’s stock valued at $1,234,000 after purchasing an additional 75,626 shares during the last quarter. Deutsche Bank AG lifted its stake in Corvus Pharmaceuticals by 304.0% during the 4th quarter. Deutsche Bank AG now owns 207,782 shares of the company’s stock worth $762,000 after acquiring an additional 156,346 shares in the last quarter. Fosun International Ltd lifted its stake in Corvus Pharmaceuticals by 7.5% during the 1st quarter. Fosun International Ltd now owns 170,974 shares of the company’s stock worth $669,000 after acquiring an additional 11,992 shares in the last quarter. Geode Capital Management LLC lifted its stake in Corvus Pharmaceuticals by 19.0% during the 4th quarter. Geode Capital Management LLC now owns 152,361 shares of the company’s stock worth $559,000 after acquiring an additional 24,322 shares in the last quarter. Finally, Telemetry Investments L.L.C. acquired a new position in Corvus Pharmaceuticals during the 4th quarter worth about $496,000. 84.46% of the stock is currently owned by institutional investors and hedge funds.

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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