Shares are trading at $13.58 which is quite a bit below the 50 day moving average of $15.86 and well below the 200 day moving average of $15.89. The 50 day moving average went down $-2.28 or -14.38% and the 200 day average moved down $-2.31. Trading volume for Corvus Pharmaceuticals, Inc. was 33K on Tuesday. Shares saw a steep decrease in trading volume of 18.10% under the normal average daily volume.
Short traders are more bearish on Corvus Pharmaceuticals, Inc. lately at least if you consider the uptick in short interest. The company saw a rise in short interest of 39.61% between September 29, 2017 and October 13, 2017. Short shares grew from 926,344 to 1,293,252 over that timeframe. Days to cover decreased from 21.0 to 17.0 and the percentage of shorted shares is 0.06% as of October 13.
These funds have shifted positions in (CRVS). As of the end of the quarter Sphera Funds Management Ltd. had disposed of a total of 21,501 shares trimming its stake by 7.7%. The value of the investment in Corvus Pharmaceuticals, Inc. decreased from $5,798,000 to $3,118,000 a change of $2,680,000 since the last quarter. Point72 Asset Management, L.p. trimmed its position by selling 175,894 shares a decrease of 43.1% from 03/31/2017 to 06/30/2017. Point72 Asset Management, L.p. now controls 232,383 shares with a value of $2,812,000. The value of the position overall is down by 66.8%.
Meeder Asset Management Inc reduced its stake by shedding 389 shares a decrease of 83.5%. Meeder Asset Management Inc now holds 77 shares valued at $1,000. The total value of its holdings decreased 83.3%. Nationwide Fund Advisors cut its ownership by selling 2,300 shares a decrease of 3.0% as of 09/30/2017. Nationwide Fund Advisors owns 74,513 shares worth $1,188,000. The total value of its holdings increased 27.9%.
Wedbush began coverage of CRVS by announcing an initial rating of “Outperform”. On August 24 the company was rated “Neutral” according to a Credit Suisse report which is up from the previous “Outperform” rating.
As of the latest earnings report the EPS was $-2.58 and is projected to be $-3.18 for the current year with 20,934,000 shares now outstanding. Next quarter’s EPS is forecasted at $-0.84 with next year’s EPS anticipated to be $-3.41.
Corvus Pharmaceuticals, Inc., launched on January 27, 2014, is a clinical-stage biopharmaceutical company. The Company is focused on the development and commercialization of immuno-oncology therapies. The Company is developing drugs and antibodies that block crucial immune checkpoints and reprogram immune T-cells. The Company has a pipeline of four immuno-oncology programs, three of which focus on the adenosine-cancer axis to modulate an immune response..