Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) Given Average Rating of “Moderate Buy” by Analysts

Shares of Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) have earned a consensus rating of “Moderate Buy” from the seven brokerages that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation and six have given a buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $31.80.

CRVS has been the subject of a number of recent analyst reports. HC Wainwright upped their price objective on Corvus Pharmaceuticals from $11.00 to $27.00 and gave the company a “buy” rating in a research note on Tuesday, January 20th. Mizuho set a $30.00 price target on shares of Corvus Pharmaceuticals in a research report on Thursday, January 29th. Barclays boosted their target price on shares of Corvus Pharmaceuticals from $16.00 to $28.00 and gave the company an “overweight” rating in a research note on Tuesday, January 20th. Cantor Fitzgerald restated an “overweight” rating on shares of Corvus Pharmaceuticals in a research note on Thursday, December 11th. Finally, Jefferies Financial Group upped their price objective on Corvus Pharmaceuticals from $13.00 to $42.00 and gave the company a “buy” rating in a research note on Thursday, January 22nd.

Corvus Pharmaceuticals Stock Performance

Shares of NASDAQ CRVS opened at $18.66 on Friday. The company has a market capitalization of $1.56 billion, a P/E ratio of -35.21 and a beta of 0.73. Corvus Pharmaceuticals has a 52-week low of $2.54 and a 52-week high of $26.95. The company’s 50 day moving average price is $12.72 and its 200-day moving average price is $8.83.

Hedge Funds Weigh In On Corvus Pharmaceuticals

Institutional investors have recently made changes to their positions in the stock. State Street Corp raised its stake in Corvus Pharmaceuticals by 177.1% during the fourth quarter. State Street Corp now owns 2,788,223 shares of the company’s stock valued at $21,469,000 after buying an additional 1,781,904 shares during the last quarter. Perceptive Advisors LLC bought a new position in Corvus Pharmaceuticals in the 2nd quarter worth about $5,754,000. Geode Capital Management LLC grew its position in Corvus Pharmaceuticals by 130.7% during the 2nd quarter. Geode Capital Management LLC now owns 1,361,740 shares of the company’s stock valued at $5,448,000 after purchasing an additional 771,454 shares during the last quarter. DCF Advisers LLC bought a new stake in Corvus Pharmaceuticals during the 4th quarter valued at about $5,613,000. Finally, Orbimed Advisors LLC increased its stake in Corvus Pharmaceuticals by 3.2% during the 2nd quarter. Orbimed Advisors LLC now owns 7,165,006 shares of the company’s stock valued at $28,660,000 after purchasing an additional 221,352 shares in the last quarter. Institutional investors 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.