Stock Traders Purchase High Volume of Put Options on Corvus Pharmaceuticals (NASDAQ:CRVS)

Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) saw unusually large options trading activity on Wednesday. Traders purchased 5,716 put options on the company. This represents an increase of 264% compared to the typical daily volume of 1,570 put options.

Corvus Pharmaceuticals Price Performance

Shares of Corvus Pharmaceuticals stock opened at $5.09 on Friday. Corvus Pharmaceuticals has a 1-year low of $1.30 and a 1-year high of $10.00. The business’s fifty day moving average price is $8.14 and its two-hundred day moving average price is $5.05. The company has a market capitalization of $327.07 million, a P/E ratio of -5.47 and a beta of 1.05.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CRVS. StockNews.com cut shares of Corvus Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Thursday, October 31st. Oppenheimer boosted their price objective on Corvus Pharmaceuticals from $8.00 to $14.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Mizuho raised Corvus Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 22nd. Finally, LADENBURG THALM/SH SH boosted their price target 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. One research analyst has rated the stock with a sell rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $12.83.

Institutional Trading of Corvus Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Cubist Systematic Strategies LLC bought a new stake in Corvus Pharmaceuticals during the second quarter worth approximately $44,000. Nwam LLC bought a new stake in shares of Corvus Pharmaceuticals in the 3rd quarter worth $53,000. XTX Topco Ltd acquired a new stake in shares of Corvus Pharmaceuticals in the third quarter valued at $74,000. Virtu Financial LLC bought a new position in Corvus Pharmaceuticals during the third quarter valued at about $83,000. Finally, Oppenheimer & Co. Inc. acquired a new position in Corvus Pharmaceuticals during the third quarter worth about $89,000. 46.64% of the stock is currently owned by 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.