Corvus Pharmaceuticals Target of Unusually Large Options Trading (NASDAQ:CRVS)

Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) saw unusually large options trading activity on Wednesday. Stock investors bought 5,716 put options on the company. This is an increase of approximately 264% compared to the average daily volume of 1,570 put options.

Corvus Pharmaceuticals Stock Performance

NASDAQ:CRVS traded down $3.45 during mid-day trading on Wednesday, hitting $3.94. 6,497,512 shares of the company’s stock traded hands, compared to its average volume of 425,141. The company has a market capitalization of $253.17 million, a P/E ratio of -5.05 and a beta of 1.05. The company has a fifty day moving average of $8.18 and a 200 day moving average of $5.05. Corvus Pharmaceuticals has a twelve month low of $1.30 and a twelve month high of $10.00.

Institutional Trading of Corvus Pharmaceuticals

A number of institutional investors have recently bought and sold shares of the stock. Samlyn Capital LLC raised its holdings in shares of Corvus Pharmaceuticals by 160.7% in the second 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 during the last quarter. Point72 Asset Management L.P. acquired a new position in shares of Corvus Pharmaceuticals in the 2nd quarter valued at $10,855,000. Vanguard Group Inc. raised its stake in Corvus Pharmaceuticals by 10.6% in the 1st quarter. Vanguard Group Inc. now owns 1,493,357 shares of the company’s stock worth $2,658,000 after acquiring an additional 142,724 shares during the last quarter. Geode Capital Management LLC lifted its position in Corvus Pharmaceuticals by 22.4% during the 3rd quarter. Geode Capital Management LLC now owns 563,009 shares of the company’s stock worth $2,974,000 after acquiring an additional 102,869 shares during the period. Finally, Towerview LLC lifted its position in Corvus Pharmaceuticals by 4.6% during the 2nd quarter. Towerview LLC now owns 400,000 shares of the company’s stock worth $728,000 after acquiring an additional 17,500 shares during the period. 46.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CRVS. Mizuho raised Corvus Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 22nd. StockNews.com cut Corvus Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Thursday, October 31st. Oppenheimer lifted their target price on Corvus Pharmaceuticals from $8.00 to $14.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Finally, LADENBURG THALM/SH SH increased their price target on shares of Corvus Pharmaceuticals from $12.00 to $21.00 and gave the company a “buy” rating in a research report on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $12.83.

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.