Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) Receives $33.33 Average PT from Brokerages

Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) has been given a consensus rating of “Moderate Buy” by the eight brokerages that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $33.3333.

CRVS has been the subject of a number of research analyst reports. LADENBURG THALM/SH SH raised shares of Corvus Pharmaceuticals to a “strong-buy” rating in a report on Thursday, July 30th. Weiss Ratings raised Corvus Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, July 28th.

Insider Transactions at Corvus Pharmaceuticals

In other news, Director David Moore acquired 21,700 shares of the business’s stock in a transaction dated Thursday, June 11th. The stock was purchased at an average cost of $11.53 per share, for a total transaction of $250,201.00. Following the acquisition, the director owned 21,700 shares of the company’s stock, valued at $250,201. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 19.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Corvus Pharmaceuticals

Large investors have recently modified their holdings of the company. Global Retirement Partners LLC purchased a new stake in Corvus Pharmaceuticals in the second quarter worth approximately $30,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Corvus Pharmaceuticals during the second quarter worth approximately $48,000. Quarry LP purchased a new position in shares of Corvus Pharmaceuticals during the third quarter worth approximately $27,000. State of Wyoming bought a new stake in shares of Corvus Pharmaceuticals in the 2nd quarter worth approximately $71,000. Finally, Meeder Asset Management Inc. bought a new stake in shares of Corvus Pharmaceuticals in the 2nd quarter worth approximately $90,000. 46.64% of the stock is owned by hedge funds and other institutional investors.

Corvus Pharmaceuticals Price Performance

Shares of NASDAQ CRVS opened at $14.39 on Thursday. The stock’s 50-day simple moving average is $14.45 and its two-hundred day simple moving average is $14.46. Corvus Pharmaceuticals has a twelve month low of $5.64 and a twelve month high of $26.95. The firm has a market capitalization of $1.21 billion, a P/E ratio of -23.59 and a beta of 0.87.

Corvus Pharmaceuticals (NASDAQ:CRVS) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.03). As a group, research analysts anticipate that Corvus Pharmaceuticals will post -0.79 EPS for the current fiscal year.

Corvus Pharmaceuticals Company Profile

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.