Corvus Pharmaceuticals (NASDAQ:CRVS) Sees Unusually-High Trading Volume – What’s Next?

Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) saw strong trading volume on Friday . 1,600,753 shares changed 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 Analysts Forecast Growth

CRVS has been the subject of a number of recent analyst reports. LADENBURG THALM/SH SH lifted their price objective on shares of Corvus Pharmaceuticals from $12.00 to $21.00 and gave the company a “buy” rating in a report on Monday, September 16th. Mizuho upgraded shares of Corvus Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 22nd. Oppenheimer lifted their target price on shares of Corvus Pharmaceuticals from $8.00 to $14.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, StockNews.com lowered shares of Corvus Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $12.83.

Corvus Pharmaceuticals Price Performance

The business’s 50 day simple moving average is $6.66 and its 200 day simple moving average is $3.97. The company has a market capitalization of $500.40 million, a PE ratio of -8.59 and a beta of 1.05.

Institutional Investors Weigh In On Corvus Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in CRVS. Cubist Systematic Strategies LLC purchased a new stake in shares of Corvus Pharmaceuticals in the 2nd quarter valued at approximately $44,000. Nwam LLC purchased a new stake in Corvus Pharmaceuticals during the 3rd quarter worth approximately $53,000. Oppenheimer & Co. Inc. purchased a new stake in Corvus Pharmaceuticals during the 3rd quarter worth approximately $89,000. Marshall Wace LLP purchased a new stake in Corvus Pharmaceuticals during the 2nd quarter worth approximately $136,000. Finally, Avity Investment Management Inc. increased its stake in Corvus Pharmaceuticals by 138.2% during the 3rd quarter. Avity Investment Management Inc. now owns 27,580 shares of the company’s stock worth $146,000 after buying an additional 16,000 shares during the period. 46.64% of the stock is owned by hedge funds and other institutional investors.

Corvus Pharmaceuticals Company Profile

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.