Corvus Pharmaceuticals Sees Unusually High Options Volume (NASDAQ:CRVS)

Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) saw unusually large options trading on Friday. Traders bought 4,856 put options on the company. This is an increase of 80% compared to the typical daily volume of 2,692 put options.

Corvus Pharmaceuticals Stock Performance

Corvus Pharmaceuticals stock traded down $1.31 during mid-day trading on Friday, hitting $12.34. The company’s stock had a trading volume of 2,633,947 shares, compared to its average volume of 2,731,189. The company has a 50 day moving average of $15.25 and a 200-day moving average of $13.11. The stock has a market cap of $1.04 billion, a PE ratio of -23.46 and a beta of 0.94. Corvus Pharmaceuticals has a one year low of $3.38 and a one year high of $26.95.

Corvus Pharmaceuticals (NASDAQ:CRVS) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.01). On average, equities research analysts forecast that Corvus Pharmaceuticals will post -0.66 EPS for the current fiscal year.

Hedge Funds Weigh In On Corvus Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in CRVS. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Corvus Pharmaceuticals by 26.0% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,629 shares of the company’s stock worth $28,000 after purchasing an additional 748 shares during the last quarter. ProShare Advisors LLC lifted its stake in shares of Corvus Pharmaceuticals by 7.7% during the 4th quarter. ProShare Advisors LLC now owns 13,764 shares of the company’s stock worth $106,000 after purchasing an additional 979 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Corvus Pharmaceuticals by 5.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 34,105 shares of the company’s stock worth $263,000 after purchasing an additional 1,696 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Corvus Pharmaceuticals by 6.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 32,232 shares of the company’s stock worth $238,000 after purchasing an additional 1,812 shares during the last quarter. Finally, Shelton Wealth Management LLC lifted its stake in shares of Corvus Pharmaceuticals by 13.8% during the 4th quarter. Shelton Wealth Management LLC now owns 15,638 shares of the company’s stock worth $120,000 after purchasing an additional 1,896 shares during the last quarter. Institutional investors own 46.64% of the company’s stock.

Analyst Ratings Changes

CRVS has been the topic of several recent research reports. HC Wainwright upped their price objective on Corvus Pharmaceuticals from $11.00 to $27.00 and gave the stock a “buy” rating in a report on Tuesday, January 20th. Wall Street Zen cut Corvus Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Jefferies Financial Group upped their price objective on Corvus Pharmaceuticals from $13.00 to $42.00 and gave the stock a “buy” rating in a report on Thursday, January 22nd. Mizuho set a $30.00 price objective on Corvus Pharmaceuticals in a report on Thursday, January 29th. Finally, Weiss Ratings raised Corvus Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, April 29th. Seven equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $33.33.

About Corvus Pharmaceuticals

Corvus Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of next-generation immuno-oncology therapies. The company’s research efforts are centered on harnessing both the innate and adaptive immune systems to counteract tumor-driven immunosuppression. By targeting key pathways that regulate immune cell function, Corvus aims to create novel agents that can be combined with existing cancer treatments to improve patient outcomes.

Corvus’s lead pipeline candidates include small-molecule and antibody therapies designed to inhibit the adenosine pathway, a known mediator of tumor immune escape.