Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) have earned a consensus recommendation of “Moderate Buy” from the seven analysts that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation and six have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $33.3333.

A number of research firms have issued reports on CRVS. Oppenheimer reissued an “outperform” rating and issued a $33.00 target price (up from $32.00) on shares of Corvus Pharmaceuticals in a research note on Friday, March 13th. Cantor Fitzgerald reissued an “overweight” rating on shares of Corvus Pharmaceuticals in a research note on Friday, March 13th. The Goldman Sachs Group started coverage on Corvus Pharmaceuticals in a research report on Friday, April 17th. They set a “buy” rating and a $40.00 price objective for the company. Weiss Ratings raised Corvus Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, April 29th. Finally, Wall Street Zen cut Corvus Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th.

Insider Buying and Selling at Corvus Pharmaceuticals

In other news, Director David Scott Moore acquired 21,700 shares of Corvus Pharmaceuticals stock in a transaction dated Thursday, June 11th. The stock was bought at an average cost of $11.53 per share, with a total value of $250,201.00. Following the completion of the transaction, the director directly owned 21,700 shares of the company’s stock, valued at approximately $250,201. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 19.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. boosted its position in Corvus Pharmaceuticals by 26.0% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,629 shares of the company’s stock valued at $28,000 after purchasing an additional 748 shares during the last quarter. ProShare Advisors LLC boosted its position in Corvus Pharmaceuticals by 7.7% during the fourth quarter. ProShare Advisors LLC now owns 13,764 shares of the company’s stock valued at $106,000 after purchasing an additional 979 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in Corvus Pharmaceuticals by 5.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 34,105 shares of the company’s stock valued at $263,000 after purchasing an additional 1,696 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Corvus Pharmaceuticals by 6.0% during the third quarter. JPMorgan Chase & Co. now owns 32,232 shares of the company’s stock valued at $238,000 after purchasing an additional 1,812 shares during the last quarter. Finally, Shelton Wealth Management LLC boosted its position in Corvus Pharmaceuticals by 13.8% during the fourth quarter. Shelton Wealth Management LLC now owns 15,638 shares of the company’s stock valued at $120,000 after purchasing an additional 1,896 shares during the last quarter. 46.64% of the stock is owned by institutional investors and hedge funds.

Corvus Pharmaceuticals Stock Performance

NASDAQ:CRVS opened at $11.91 on Friday. Corvus Pharmaceuticals has a 1 year low of $3.55 and a 1 year high of $26.95. The stock has a market cap of $1.00 billion, a price-to-earnings ratio of -22.90 and a beta of 0.84. The stock has a 50-day moving average price of $13.73 and a two-hundred day moving average price of $13.75.

Corvus Pharmaceuticals (NASDAQ:CRVS) last posted its earnings results on Thursday, May 7th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.01). Sell-side analysts forecast that Corvus Pharmaceuticals will post -0.7 earnings per share for the current year.

Corvus Pharmaceuticals Company Profile

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.