Corvus Pharmaceuticals, Inc. (CRVS) Posts Earnings Results, Beats Expectations By $0.19 EPS
Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) announced its quarterly earnings data on Thursday. The company reported ($0.62) EPS for the quarter, topping analysts’ consensus estimates of ($0.81) by $0.19, Bloomberg Earnings reports.
Corvus Pharmaceuticals (NASDAQ CRVS) traded up $0.58 during trading hours on Friday, reaching $14.55. The company’s stock had a trading volume of 61,546 shares, compared to its average volume of 31,676.
An institutional investor recently raised its position in Corvus Pharmaceuticals stock. California State Teachers Retirement System boosted its stake in Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) by 121.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,967 shares of the company’s stock after buying an additional 8,200 shares during the quarter. California State Teachers Retirement System owned approximately 0.07% of Corvus Pharmaceuticals worth $181,000 at the end of the most recent quarter. 83.62% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts recently commented on the company. Zacks Investment Research cut Corvus Pharmaceuticals from a “buy” rating to a “sell” rating in a research note on Tuesday, September 12th. Credit Suisse Group raised Corvus Pharmaceuticals from an “underperform” rating to a “neutral” rating and set a $14.00 price objective for the company in a research note on Wednesday, August 23rd. Finally, Wedbush assumed coverage on Corvus Pharmaceuticals in a research note on Wednesday, August 2nd. They set an “outperform” rating and a $26.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $20.75.
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Corvus Pharmaceuticals Company Profile
Corvus Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company. The Company is focused on the development and commercialization of immuno-oncology therapies. The Company is developing drugs and antibodies that block crucial immune checkpoints and reprogram immune T-cells. The Company has a pipeline of four immuno-oncology programs, three of which focus on the adenosine-cancer axis to modulate an immune response.
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