Corvus Pharmaceuticals Inc (NASDAQ:CRVS) was the recipient of a significant increase in short interest during the month of June. As of June 15th, there was short interest totalling 1,279,500 shares, an increase of 8.5% from the May 15th total of 1,178,800 shares. Currently, 6.5% of the shares of the stock are short sold. Based on an average daily trading volume, of 68,300 shares, the short-interest ratio is presently 18.7 days.
In other Corvus Pharmaceuticals news, Director Orbimed Advisors Llc purchased 657,344 shares of Corvus Pharmaceuticals stock in a transaction that occurred on Monday, July 1st. The shares were bought at an average price of $3.72 per share, for a total transaction of $2,445,319.68. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Leiv Lea purchased 15,500 shares of Corvus Pharmaceuticals stock in a transaction that occurred on Thursday, June 6th. The stock was acquired at an average price of $3.56 per share, for a total transaction of $55,180.00. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 730,534 shares of company stock worth $2,695,804. Company insiders own 40.40% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the stock. Prudential Financial Inc. lifted its stake in Corvus Pharmaceuticals by 15.0% in the fourth quarter. Prudential Financial Inc. now owns 21,545 shares of the company’s stock worth $79,000 after acquiring an additional 2,805 shares during the period. Rhumbline Advisers lifted its stake in Corvus Pharmaceuticals by 44.1% in the fourth quarter. Rhumbline Advisers now owns 18,203 shares of the company’s stock worth $67,000 after acquiring an additional 5,570 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Corvus Pharmaceuticals by 18.3% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 58,951 shares of the company’s stock worth $237,000 after acquiring an additional 9,101 shares during the period. Fosun International Ltd raised its holdings in Corvus Pharmaceuticals by 7.5% in the first quarter. Fosun International Ltd now owns 170,974 shares of the company’s stock worth $669,000 after purchasing an additional 11,992 shares in the last quarter. Finally, Raymond James Trust N.A. bought a new position in Corvus Pharmaceuticals in the first quarter worth about $53,000. 84.46% of the stock is owned by institutional investors.
Corvus Pharmaceuticals (NASDAQ:CRVS) last issued its earnings results on Thursday, May 9th. The company reported ($0.40) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of ($0.40). Equities research analysts anticipate that Corvus Pharmaceuticals will post -1.61 EPS for the current year.
Several research analysts have commented on the stock. Roth Capital assumed coverage on shares of Forty Seven in a research note on Wednesday, May 29th. They set a “buy” rating and a $28.00 price objective for the company. Zacks Investment Research lowered shares of General Finance from a “buy” 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 stock. The company currently has an average rating of “Hold” and an average target price of $9.19.
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 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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