Corvus Pharmaceuticals (NASDAQ:CRVS) Reaches New 12-Month High – What’s Next?

Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) hit a new 52-week high during trading on Tuesday . The stock traded as high as $16.60 and last traded at $15.1090, with a volume of 25153986 shares trading hands. The stock had previously closed at $8.05.

Analyst Ratings Changes

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

Corvus Pharmaceuticals Trading Up 93.4%

The company has a fifty day moving average of $7.99 and a 200-day moving average of $6.61. The company has a market capitalization of $1.16 billion, a price-to-earnings ratio of -29.56 and a beta of 0.70.

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

Institutional Trading of Corvus Pharmaceuticals

Hedge funds have recently bought and sold shares of the business. Quarry LP purchased a new position in Corvus Pharmaceuticals in the 3rd quarter worth approximately $27,000. Russell Investments Group Ltd. acquired a new stake in shares of Corvus Pharmaceuticals in the third quarter valued at approximately $49,000. Police & Firemen s Retirement System of New Jersey acquired a new stake in shares of Corvus Pharmaceuticals in the second quarter valued at approximately $49,000. BNP Paribas Financial Markets lifted its position in Corvus Pharmaceuticals by 125.9% during the third quarter. BNP Paribas Financial Markets now owns 12,516 shares of the company’s stock worth $92,000 after buying an additional 6,975 shares in the last quarter. Finally, Sender Co & Partners Inc. acquired a new position in Corvus Pharmaceuticals during the second quarter worth $52,000. Institutional investors and hedge funds 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.