Corvus Pharmaceuticals (NASDAQ:CRVS) Sees Strong Trading Volume – Time to Buy?

Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) saw an uptick in 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.

Analyst Ratings Changes

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

Corvus Pharmaceuticals Trading Down 3.9 %

The company has a market cap of $512.28 million, a P/E ratio of -8.81 and a beta of 1.05. The stock’s 50 day moving average is $6.83 and its 200-day moving average is $4.05.

Institutional Investors Weigh In On Corvus Pharmaceuticals

Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Corvus Pharmaceuticals by 10.6% during the 1st quarter. Vanguard Group Inc. now owns 1,493,357 shares of the company’s stock valued at $2,658,000 after purchasing an additional 142,724 shares during the last quarter. Towerview LLC boosted its position in shares of Corvus Pharmaceuticals by 4.6% during the second quarter. Towerview LLC now owns 400,000 shares of the company’s stock valued at $728,000 after buying an additional 17,500 shares during the last quarter. Samlyn Capital LLC increased its holdings in Corvus Pharmaceuticals by 160.7% in the 2nd quarter. Samlyn Capital LLC now owns 6,123,021 shares of the company’s stock worth $11,144,000 after buying an additional 3,774,658 shares in the last quarter. Marshall Wace LLP bought a new stake in Corvus Pharmaceuticals in the 2nd quarter worth about $136,000. Finally, Cubist Systematic Strategies LLC purchased a new position in Corvus Pharmaceuticals in the 2nd quarter worth about $44,000. Hedge funds and other institutional investors own 46.64% of the company’s stock.

About Corvus Pharmaceuticals

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.