Corvus Pharmaceuticals (NASDAQ:CRVS) Coverage Initiated at The Goldman Sachs Group

Analysts at The Goldman Sachs Group initiated coverage on shares of Corvus Pharmaceuticals (NASDAQ:CRVS) in a research report issued on Friday, MarketBeat Ratings reports. The firm set a “buy” rating on the stock.

A number of other equities analysts have also recently commented on CRVS. Mizuho set a $30.00 target price on Corvus Pharmaceuticals in a report on Thursday, January 29th. Wall Street Zen cut Corvus Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday, March 14th. Oppenheimer reissued an “outperform” rating and set a $33.00 target price (up from $32.00) on shares of Corvus Pharmaceuticals in a report on Friday, March 13th. Cantor Fitzgerald reissued an “overweight” rating on shares of Corvus Pharmaceuticals in a report on Friday, March 13th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Corvus Pharmaceuticals in a report on Wednesday, January 21st. Seven analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $33.33.

Corvus Pharmaceuticals Price Performance

Shares of Corvus Pharmaceuticals stock opened at $16.74 on Friday. The business has a 50 day simple moving average of $16.14 and a two-hundred day simple moving average of $12.06. Corvus Pharmaceuticals has a 12 month low of $3.15 and a 12 month high of $26.95. The stock has a market capitalization of $1.41 billion, a P/E ratio of -33.48 and a beta of 0.97.

Corvus Pharmaceuticals (NASDAQ:CRVS) last announced its earnings results on Thursday, March 12th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.01). As a group, research analysts anticipate that Corvus Pharmaceuticals will post -0.63 EPS for the current fiscal year.

Institutional Investors Weigh In On Corvus Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC increased its holdings in shares of Corvus Pharmaceuticals by 76.9% in the first quarter. SG Americas Securities LLC now owns 35,420 shares of the company’s stock valued at $518,000 after purchasing an additional 15,399 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Corvus Pharmaceuticals by 12.7% in the fourth quarter. Invesco Ltd. now owns 43,583 shares of the company’s stock valued at $336,000 after purchasing an additional 4,910 shares during the last quarter. Virtus Investment Advisers LLC increased its holdings in shares of Corvus Pharmaceuticals by 18.4% in the fourth quarter. Virtus Investment Advisers LLC now owns 31,783 shares of the company’s stock valued at $245,000 after purchasing an additional 4,946 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Corvus Pharmaceuticals by 74.7% in the fourth quarter. Wellington Management Group LLP now owns 314,683 shares of the company’s stock valued at $2,423,000 after purchasing an additional 134,508 shares during the last quarter. Finally, Millennium Management LLC acquired a new stake in shares of Corvus Pharmaceuticals in the fourth quarter valued at approximately $5,304,000. 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.