Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) Receives Consensus Recommendation of “Buy” from Analysts

Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) has been assigned a consensus rating of “Buy” from the five analysts that are presently covering the stock, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $12.38.

A number of equities analysts recently commented on CRVS shares. Mizuho upgraded Corvus Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 22nd. StockNews.com lowered shares of Corvus Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Thursday, October 31st. LADENBURG THALM/SH SH increased their target price on shares of Corvus Pharmaceuticals from $12.00 to $21.00 and gave the stock a “buy” rating in a research report on Monday, September 16th. HC Wainwright initiated coverage on Corvus Pharmaceuticals in a research note on Thursday, January 2nd. They set a “buy” rating and a $11.00 price target for the company. Finally, Oppenheimer raised their price objective on Corvus Pharmaceuticals from $8.00 to $14.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th.

Corvus Pharmaceuticals Trading Down 1.7 %

NASDAQ CRVS opened at $5.65 on Thursday. Corvus Pharmaceuticals has a 1-year low of $1.30 and a 1-year high of $10.00. The firm’s fifty day simple moving average is $7.56 and its 200-day simple moving average is $5.39. The company has a market capitalization of $363.05 million, a PE ratio of -6.08 and a beta of 1.07.

Hedge Funds Weigh In On Corvus Pharmaceuticals

A number of institutional investors have recently made changes to their positions in the business. Samlyn Capital LLC grew 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 valued at $11,144,000 after buying an additional 3,774,658 shares during the last quarter. Marshall Wace LLP acquired a new stake in shares of Corvus Pharmaceuticals in the second quarter worth $136,000. Cubist Systematic Strategies LLC acquired a new position in Corvus Pharmaceuticals during the 2nd quarter valued at $44,000. Point72 Asset Management L.P. acquired a new position in Corvus Pharmaceuticals during the 2nd quarter valued at $10,855,000. Finally, Avity Investment Management Inc. boosted its holdings in Corvus Pharmaceuticals by 138.2% in the 3rd quarter. Avity Investment Management Inc. now owns 27,580 shares of the company’s stock valued at $146,000 after purchasing an additional 16,000 shares during the period. 46.64% of the stock is currently owned by institutional investors.

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.