Corvus Pharmaceuticals (NASDAQ:CRVS) Trading Up 5.1% – Should You Buy?

Shares of Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) were up 5.1% during mid-day trading on Friday . The company traded as high as $14.91 and last traded at $14.9910. 120,438 shares traded hands during mid-day trading, a decline of 95% from the average session volume of 2,365,483 shares. The stock had previously closed at $14.27.

Analyst Ratings Changes

Several equities analysts recently commented on CRVS shares. The Goldman Sachs Group initiated coverage on Corvus Pharmaceuticals in a research report on Friday, April 17th. They set a “buy” rating and a $40.00 price target on the stock. Wall Street Zen downgraded shares of Corvus Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Finally, Weiss Ratings lowered shares of Corvus Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, July 10th. Six investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Corvus Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average target price of $33.33.

Corvus Pharmaceuticals Price Performance

The stock has a market capitalization of $1.25 billion, a price-to-earnings ratio of -28.65 and a beta of 0.82. The firm’s fifty day moving average is $13.30 and its 200-day moving average is $14.66.

Corvus Pharmaceuticals (NASDAQ:CRVS) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.01). On average, sell-side analysts expect that Corvus Pharmaceuticals, Inc. will post -0.7 EPS for the current year.

Insider Buying and Selling

In other news, Director David Scott Moore acquired 21,700 shares of the stock in a transaction that occurred on Thursday, June 11th. The stock was purchased at an average cost of $11.53 per share, with a total value of $250,201.00. Following the completion of the acquisition, the director directly owned 21,700 shares in the company, valued at $250,201. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 19.70% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in CRVS. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Corvus Pharmaceuticals by 26.0% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,629 shares of the company’s stock valued at $28,000 after acquiring an additional 748 shares during the last quarter. Quarry LP bought a new position in Corvus Pharmaceuticals during the third quarter worth $27,000. Russell Investments Group Ltd. acquired a new position in Corvus Pharmaceuticals in the third quarter worth $49,000. Teachers Retirement System of The State of Kentucky acquired a new position in Corvus Pharmaceuticals in the first quarter worth $117,000. Finally, Truvestments Capital LLC increased its stake in Corvus Pharmaceuticals by 86.1% during the fourth quarter. Truvestments Capital LLC now owns 10,257 shares of the company’s stock valued at $79,000 after purchasing an additional 4,744 shares during the last quarter. 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.