Brokerages Set Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) Price Target at $33.33

Shares of Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) have been given a consensus recommendation of “Moderate Buy” by the eight analysts that are covering the firm, MarketBeat Ratings reports. One investment 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 12-month price objective among brokers that have issued ratings on the stock in the last year is $33.3333.

Several research analysts have recently issued reports on the stock. Weiss Ratings upgraded shares of Corvus Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, July 28th. LADENBURG THALM/SH SH upgraded shares of Corvus Pharmaceuticals to a “strong-buy” rating in a research note on Thursday, July 30th. The Goldman Sachs Group initiated coverage on shares of Corvus Pharmaceuticals in a research report on Friday, April 17th. They issued a “buy” rating and a $40.00 price target for the company. Finally, Wall Street Zen downgraded shares of Corvus Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th.

Insider Activity

In other news, Director David Scott Moore purchased 21,700 shares of the company’s stock in a transaction that occurred on Thursday, June 11th. The shares were purchased at an average price of $11.53 per share, for a total transaction of $250,201.00. Following the purchase, the director directly owned 21,700 shares of the company’s stock, valued at $250,201. This represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 19.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Corvus Pharmaceuticals

Institutional investors have recently modified their holdings of the business. Geode Capital Management LLC boosted its stake in shares of Corvus Pharmaceuticals by 130.7% during the second quarter. Geode Capital Management LLC now owns 1,361,740 shares of the company’s stock worth $5,448,000 after buying an additional 771,454 shares during the period. JPMorgan Chase & Co. increased its position in Corvus Pharmaceuticals by 541.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 30,420 shares of the company’s stock valued at $122,000 after acquiring an additional 25,681 shares during the period. Rhumbline Advisers raised its stake in Corvus Pharmaceuticals by 9,501.8% during the 2nd quarter. Rhumbline Advisers now owns 75,950 shares of the company’s stock valued at $304,000 after acquiring an additional 75,159 shares during the last quarter. Hsbc Holdings PLC purchased a new stake in Corvus Pharmaceuticals during the 2nd quarter valued at approximately $332,000. Finally, New York State Common Retirement Fund acquired a new stake in Corvus Pharmaceuticals during the 2nd quarter worth approximately $95,000. 46.64% of the stock is owned by institutional investors and hedge funds.

Corvus Pharmaceuticals Stock Up 7.2%

CRVS stock opened at $14.73 on Friday. The business has a 50 day moving average price of $13.51 and a 200 day moving average price of $15.28. The stock has a market cap of $1.24 billion, a price-to-earnings ratio of -24.15 and a beta of 0.87. Corvus Pharmaceuticals has a fifty-two week low of $4.38 and a fifty-two week high of $26.95.

Corvus Pharmaceuticals (NASDAQ:CRVS) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.19) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.03). As a group, sell-side analysts anticipate that Corvus Pharmaceuticals will post -0.74 EPS for the current 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.