Corvus Pharmaceuticals (NASDAQ:CRVS) Shares Up 3.5% – What’s Next?

Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS)’s share price rose 3.5% during mid-day trading on Friday . The company traded as high as $7.79 and last traded at $7.7450. Approximately 504,444 shares were traded during mid-day trading, a decline of 44% from the average daily volume of 894,446 shares. The stock had previously closed at $7.48.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on CRVS shares. Cantor Fitzgerald restated an “overweight” rating on shares of Corvus Pharmaceuticals in a report on Thursday, December 11th. Wall Street Zen raised Corvus Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Barclays assumed coverage on Corvus Pharmaceuticals in a report on Monday, October 13th. They set an “overweight” rating and a $16.00 price target for the company. Mizuho set a $13.00 price objective on Corvus Pharmaceuticals in a research report on Wednesday, October 29th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Corvus Pharmaceuticals in a research report on Wednesday, October 8th. Five investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $14.25.

Corvus Pharmaceuticals Stock Up 3.6%

The stock has a market capitalization of $578.70 million, a PE ratio of -14.55 and a beta of 0.64. The business’s 50-day moving average is $8.10 and its two-hundred day moving average is $6.21.

Corvus Pharmaceuticals (NASDAQ:CRVS) last issued its quarterly earnings data on Tuesday, November 4th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.02. As a group, analysts anticipate that Corvus Pharmaceuticals, Inc. will post -0.63 EPS for the current year.

Institutional Investors Weigh In On Corvus Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quarry LP purchased a new stake in Corvus Pharmaceuticals in the 3rd quarter valued at $27,000. Police & Firemen s Retirement System of New Jersey acquired a new position in Corvus Pharmaceuticals in the second quarter valued at $49,000. Russell Investments Group Ltd. purchased a new stake in shares of Corvus Pharmaceuticals in the third quarter valued at about $49,000. Sender Co & Partners Inc. purchased a new stake in shares of Corvus Pharmaceuticals in the second quarter valued at about $52,000. Finally, ProShare Advisors LLC acquired a new stake in shares of Corvus Pharmaceuticals during the second quarter worth about $54,000. Hedge funds and other institutional investors own 46.64% of the company’s stock.

About Corvus Pharmaceuticals

Corvus Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of next-generation immuno-oncology therapies. The company’s research efforts are centered on harnessing both the innate and adaptive immune systems to counteract tumor-driven immunosuppression. By targeting key pathways that regulate immune cell function, Corvus aims to create novel agents that can be combined with existing cancer treatments to improve patient outcomes.

Corvus’s lead pipeline candidates include small-molecule and antibody therapies designed to inhibit the adenosine pathway, a known mediator of tumor immune escape.