Corvus Pharmaceuticals (NASDAQ:CRVS) Shares Up 7.1% – Still a Buy?

Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) was up 7.1% during trading on Wednesday . The stock traded as high as $6.93 and last traded at $6.9640. Approximately 268,691 shares changed hands during trading, a decline of 82% from the average daily volume of 1,469,968 shares. The stock had previously closed at $6.50.

Analyst Ratings Changes

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

Corvus Pharmaceuticals Stock Up 5.5%

The stock’s 50-day moving average is $8.00 and its 200 day moving average is $6.51. The stock has a market capitalization of $512.30 million, a PE ratio of -12.94 and a beta of 0.70.

Corvus Pharmaceuticals (NASDAQ:CRVS) last announced its quarterly earnings results on Tuesday, November 4th. The company reported ($0.12) EPS for the quarter, beating the consensus estimate of ($0.14) by $0.02. As a group, equities research analysts forecast that Corvus Pharmaceuticals, Inc. will post -0.63 EPS for the current year.

Hedge Funds Weigh In On Corvus Pharmaceuticals

A number of institutional investors have recently made changes to their positions in the business. Masso Torrence Wealth Management Inc. raised its position in shares of Corvus Pharmaceuticals by 42.9% during the second quarter. Masso Torrence Wealth Management Inc. now owns 50,000 shares of the company’s stock valued at $200,000 after buying an additional 15,000 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new position in Corvus Pharmaceuticals during the 2nd quarter valued at about $672,000. Towerview LLC grew its position in Corvus Pharmaceuticals by 33.3% during the 2nd quarter. Towerview LLC now owns 170,000 shares of the company’s stock worth $680,000 after acquiring an additional 42,500 shares during the last quarter. ProShare Advisors LLC acquired a new stake in Corvus Pharmaceuticals in the 2nd quarter valued at about $54,000. Finally, Geode Capital Management LLC raised its position in Corvus Pharmaceuticals by 130.7% in the 2nd quarter. Geode Capital Management LLC now owns 1,361,740 shares of the company’s stock worth $5,448,000 after purchasing an additional 771,454 shares during the last quarter. 46.64% of the stock is currently owned by institutional investors.

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.