Corvus Pharmaceuticals (NASDAQ:CRVS) Shares Up 3.5% – Still a Buy?

Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS)’s share price rose 3.5% on Friday . The stock traded as high as $7.79 and last traded at $7.7450. Approximately 504,444 shares changed hands during 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 research firms have recently issued reports on CRVS. Mizuho set a $13.00 target price on shares of Corvus Pharmaceuticals in a research note on Wednesday, October 29th. Wall Street Zen raised Corvus Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Corvus Pharmaceuticals in a research report on Wednesday, October 8th. Cantor Fitzgerald reissued an “overweight” rating on shares of Corvus Pharmaceuticals in a research note on Thursday, December 11th. Finally, Barclays initiated coverage on Corvus Pharmaceuticals in a report on Monday, October 13th. They set an “overweight” rating and a $16.00 target price on the stock. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $14.25.

Corvus Pharmaceuticals Trading Up 2.9%

The stock has a market capitalization of $575.04 million, a P/E ratio of -14.53 and a beta of 0.64. The company has a fifty day simple moving average of $8.11 and a two-hundred day simple moving average of $6.24.

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Perceptive Advisors LLC bought a new position in shares of Corvus Pharmaceuticals in the 2nd quarter worth $5,754,000. Geode Capital Management LLC lifted its stake in Corvus Pharmaceuticals by 130.7% in the second quarter. Geode Capital Management LLC now owns 1,361,740 shares of the company’s stock valued at $5,448,000 after buying an additional 771,454 shares during the period. Orbimed Advisors LLC boosted its holdings in Corvus Pharmaceuticals by 3.2% during the second quarter. Orbimed Advisors LLC now owns 7,165,006 shares of the company’s stock worth $28,660,000 after buying an additional 221,352 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Corvus Pharmaceuticals by 5.8% during the 3rd quarter. Vanguard Group Inc. now owns 3,471,925 shares of the company’s stock worth $25,588,000 after buying an additional 191,216 shares during the period. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new stake in shares of Corvus Pharmaceuticals in the 2nd quarter valued at about $672,000. Institutional investors and hedge funds own 46.64% of the company’s stock.

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.