Corvus Pharmaceuticals (NASDAQ:CRVS) Issues Earnings Results, Misses Expectations By $0.01 EPS

Corvus Pharmaceuticals (NASDAQ:CRVS) issued its quarterly earnings data on Thursday. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.01), FiscalAI reports.

Corvus Pharmaceuticals Stock Performance

NASDAQ CRVS traded down $0.89 during trading hours on Thursday, reaching $16.01. The stock had a trading volume of 1,167,502 shares, compared to its average volume of 3,994,892. The stock has a market cap of $1.34 billion, a P/E ratio of -30.21 and a beta of 0.78. Corvus Pharmaceuticals has a 52-week low of $2.54 and a 52-week high of $26.95. The stock has a fifty day moving average of $16.13 and a 200 day moving average of $10.43.

Institutional Trading of Corvus Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in CRVS. Geode Capital Management LLC increased its stake 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 worth $5,448,000 after buying an additional 771,454 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Corvus Pharmaceuticals by 541.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 30,420 shares of the company’s stock valued at $122,000 after purchasing an additional 25,681 shares during the last quarter. Rhumbline Advisers boosted its stake in Corvus Pharmaceuticals by 9,501.8% during the second quarter. Rhumbline Advisers now owns 75,950 shares of the company’s stock worth $304,000 after buying an additional 75,159 shares during the period. Hsbc Holdings PLC acquired a new stake in Corvus Pharmaceuticals in the 2nd quarter valued at approximately $332,000. Finally, New York State Common Retirement Fund acquired a new stake in shares of Corvus Pharmaceuticals in the second quarter valued at $95,000. 46.64% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Mizuho set a $30.00 price objective on shares of Corvus Pharmaceuticals in a report on Thursday, January 29th. HC Wainwright increased their price target on shares of Corvus Pharmaceuticals from $11.00 to $27.00 and gave the stock a “buy” rating in a research report on Tuesday, January 20th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Corvus Pharmaceuticals in a research report on Thursday, December 11th. Jefferies Financial Group raised their price target on Corvus Pharmaceuticals from $13.00 to $42.00 and gave the company a “buy” rating in a report on Thursday, January 22nd. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Corvus Pharmaceuticals in a research note on Wednesday, January 21st. Six investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Corvus Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average price target of $31.80.

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.