Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) Receives $33.33 Consensus PT from Analysts

Shares of Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) have received a consensus rating of “Moderate Buy” from the eight ratings firms that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $33.3333.

A number of equities analysts have recently issued reports on CRVS shares. LADENBURG THALM/SH SH upgraded shares of Corvus Pharmaceuticals to a “strong-buy” rating in a research report on Thursday, July 30th. Wall Street Zen cut shares of Corvus Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Finally, Weiss Ratings raised shares of Corvus Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, July 28th.

Corvus Pharmaceuticals Stock Down 1.8%

Shares of NASDAQ CRVS opened at $14.39 on Thursday. The stock has a market cap of $1.21 billion, a PE ratio of -23.59 and a beta of 0.87. Corvus Pharmaceuticals has a 52-week low of $5.64 and a 52-week high of $26.95. The business has a 50-day moving average price of $14.45 and a 200 day moving average price of $14.51.

Corvus Pharmaceuticals (NASDAQ:CRVS) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.19) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.03). Sell-side analysts anticipate that Corvus Pharmaceuticals will post -0.79 earnings per share for the current year.

Insider Buying and Selling at Corvus Pharmaceuticals

In related news, Director David Moore purchased 21,700 shares of the stock in a transaction that occurred on Thursday, June 11th. The shares were purchased at an average price 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 position. The transaction 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 Trading of Corvus Pharmaceuticals

Hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new position in shares of Corvus Pharmaceuticals in the second quarter valued at approximately $106,654,000. MPM Bioimpact LLC purchased a new position in Corvus Pharmaceuticals in the 4th quarter valued at $21,126,000. Commodore Capital LP acquired a new position in Corvus Pharmaceuticals in the 1st quarter valued at $33,045,000. State Street Corp raised its position in Corvus Pharmaceuticals by 177.1% during the 4th quarter. State Street Corp now owns 2,788,223 shares of the company’s stock worth $21,469,000 after buying an additional 1,781,904 shares during the last quarter. Finally, Perceptive Advisors LLC lifted its stake in shares of Corvus Pharmaceuticals by 231.1% in the 1st quarter. Perceptive Advisors LLC now owns 2,292,441 shares of the company’s stock worth $33,538,000 after acquiring an additional 1,600,000 shares during the period. 46.64% of the stock is owned by institutional investors and hedge funds.

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.