Corvus Pharmaceuticals Inc (NASDAQ:CRVS) rose 10.3% during trading on Friday . The company traded as high as $3.91 and last traded at $3.74. Approximately 1,546,654 shares traded hands during mid-day trading, an increase of 1,506% from the average daily volume of 96,278 shares. The stock had previously closed at $3.39.
CRVS has been the subject of a number of analyst reports. Roth Capital initiated coverage on Corvus Pharmaceuticals in a research report on Wednesday, May 29th. They issued a “buy” rating and a $6.00 price target for the company. Zacks Investment Research raised Corvus Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Tuesday, April 9th. Finally, Wedbush lowered their price target on Corvus Pharmaceuticals from $19.00 to $11.00 and set an “outperform” rating for the company in a research report on Wednesday, March 13th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $9.19.
The stock’s 50-day simple moving average is $3.79. The company has a debt-to-equity ratio of 0.03, a current ratio of 12.39 and a quick ratio of 12.39.
In other Corvus Pharmaceuticals news, CEO Richard A. Md Miller bought 9,212 shares of the firm’s stock in a transaction dated Friday, June 7th. The stock was purchased at an average cost of $3.37 per share, with a total value of $31,044.44. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Leiv Lea bought 15,500 shares of the firm’s stock in a transaction dated Thursday, June 6th. The shares were acquired at an average cost 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 ninety days, insiders have bought 40,267 shares of company stock valued at $140,522. Insiders own 40.40% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Corvus Pharmaceuticals by 2.0% during the third quarter. Vanguard Group Inc. now owns 677,974 shares of the company’s stock valued at $5,817,000 after acquiring an additional 13,578 shares during the period. Rhumbline Advisers raised its holdings in shares of Corvus Pharmaceuticals by 44.1% during the fourth quarter. Rhumbline Advisers now owns 18,203 shares of the company’s stock valued at $67,000 after acquiring an additional 5,570 shares during the period. Prudential Financial Inc. raised its holdings in shares of Corvus Pharmaceuticals by 15.0% during the fourth quarter. Prudential Financial Inc. now owns 21,545 shares of the company’s stock valued at $79,000 after acquiring an additional 2,805 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Corvus Pharmaceuticals by 29.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 336,327 shares of the company’s stock valued at $1,234,000 after acquiring an additional 75,626 shares during the period. Finally, Geode Capital Management LLC raised its holdings in shares of Corvus Pharmaceuticals by 19.0% during the fourth quarter. Geode Capital Management LLC now owns 152,361 shares of the company’s stock valued at $559,000 after acquiring an additional 24,322 shares during the period. 84.46% of the stock is owned by hedge funds and other institutional investors.
Corvus Pharmaceuticals Company Profile (NASDAQ:CRVS)
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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