Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) Receives $33.33 Consensus Price Target from Brokerages

Shares of Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) have been given a consensus rating of “Moderate Buy” by the seven brokerages that are presently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation and six have issued a buy recommendation on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $33.3333.

Several equities analysts have recently issued reports on the company. The Goldman Sachs Group started coverage on Corvus Pharmaceuticals in a report on Friday, April 17th. They issued a “buy” rating and a $40.00 target price for the company. Weiss Ratings downgraded Corvus Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, July 10th. Finally, Wall Street Zen cut Corvus Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th.

Insider Transactions at Corvus Pharmaceuticals

In related news, Director David Scott Moore acquired 21,700 shares of the stock in a transaction on Thursday, June 11th. The shares were acquired at an average price of $11.53 per share, with a total value of $250,201.00. Following the completion of the transaction, the director owned 21,700 shares in the company, valued at approximately $250,201. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 19.70% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. DCF Advisers LLC purchased a new stake in Corvus Pharmaceuticals during the fourth quarter valued at about $5,613,000. Emerald Mutual Fund Advisers Trust purchased a new position in shares of Corvus Pharmaceuticals in the first quarter worth about $6,719,000. Emerald Advisers LLC bought a new stake in shares of Corvus Pharmaceuticals in the first quarter valued at approximately $10,039,000. Simplify Asset Management Inc. purchased a new stake in shares of Corvus Pharmaceuticals during the 1st quarter valued at approximately $296,000. Finally, SG Americas Securities LLC lifted its stake in shares of Corvus Pharmaceuticals by 76.9% during the 1st quarter. SG Americas Securities LLC now owns 35,420 shares of the company’s stock valued at $518,000 after buying an additional 15,399 shares in the last quarter. 46.64% of the stock is owned by institutional investors.

Corvus Pharmaceuticals Stock Performance

Corvus Pharmaceuticals stock opened at $14.90 on Wednesday. Corvus Pharmaceuticals has a fifty-two week low of $3.96 and a fifty-two week high of $26.95. The stock has a market cap of $1.25 billion, a PE ratio of -28.65 and a beta of 0.82. The firm’s 50-day simple moving average is $13.30 and its 200 day simple moving average is $14.66.

Corvus Pharmaceuticals (NASDAQ:CRVS) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.01). As a group, analysts predict that Corvus Pharmaceuticals will post -0.7 EPS for the current fiscal year.

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.