Corvus Pharmaceuticals (NASDAQ:CRVS) Given New $8.00 Price Target at Oppenheimer

Corvus Pharmaceuticals (NASDAQ:CRVS) had its target price lifted by Oppenheimer from $7.00 to $8.00 in a research report sent to investors on Tuesday, Benzinga reports. Oppenheimer currently has an outperform rating on the stock.

A number of other research analysts have also commented on CRVS. Cantor Fitzgerald reiterated an overweight rating on shares of Corvus Pharmaceuticals in a research note on Monday, April 1st. Mizuho reiterated a neutral rating and set a $3.50 price target on shares of Corvus Pharmaceuticals in a research report on Wednesday, March 27th.

Corvus Pharmaceuticals Trading Down 12.0 %

CRVS opened at $1.68 on Tuesday. The business’s 50 day moving average is $1.78 and its 200-day moving average is $1.78. The stock has a market cap of $82.39 million, a PE ratio of -2.95 and a beta of 1.05. Corvus Pharmaceuticals has a twelve month low of $1.05 and a twelve month high of $4.19.

Corvus Pharmaceuticals (NASDAQ:CRVS) last issued its quarterly earnings data on Tuesday, March 19th. The company reported ($0.14) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.14). As a group, analysts forecast that Corvus Pharmaceuticals will post -0.47 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Richard A. Md Miller purchased 577,634 shares of the business’s stock in a transaction dated Monday, May 6th. The shares were acquired at an average price of $1.73 per share, for a total transaction of $999,306.82. Following the completion of the acquisition, the chief executive officer now directly owns 577,634 shares of the company’s stock, valued at $999,306.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Corvus Pharmaceuticals news, CEO Richard A. Md Miller purchased 577,634 shares of the stock in a transaction dated Monday, May 6th. The shares were acquired at an average price of $1.73 per share, for a total transaction of $999,306.82. Following the completion of the acquisition, the chief executive officer now owns 577,634 shares of the company’s stock, valued at approximately $999,306.82. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider William Benton Jones acquired 20,000 shares of Corvus Pharmaceuticals stock in a transaction that occurred on Monday, May 6th. The stock was acquired at an average cost of $1.73 per share, with a total value of $34,600.00. Following the completion of the purchase, the insider now owns 153,773 shares in the company, valued at approximately $266,027.29. The disclosure for this purchase can be found here. Corporate insiders own 31.30% of the company’s stock.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Corvus Pharmaceuticals stock. Towerview LLC increased its position in shares of Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) by 27.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 436,873 shares of the company’s stock after acquiring an additional 94,395 shares during the period. Corvus Pharmaceuticals comprises approximately 0.5% of Towerview LLC’s portfolio, making the stock its 17th biggest holding. Towerview LLC owned about 0.89% of Corvus Pharmaceuticals worth $769,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors own 46.64% of the company’s stock.

Corvus Pharmaceuticals Company Profile

Corvus Pharmaceuticals, Inc, a clinical stage biopharmaceutical company, focuses on the development and commercialization of immune modulator product candidates to treat solid cancers, T cell lymphomas, autoimmune, allergic, and infectious diseases. Its lead product candidate is soquelitinib (CPI-818), a selective covalent inhibitor of interleukin 2 inducible T cell kinase (ITK), which is in a multi-center Phase 1/1b clinical trial for the treatment of peripheral T cell lymphoma, solid tumors, and atopic dermatitis.