Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) have earned a consensus recommendation of “Moderate Buy” from the seven brokerages that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation and six have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $33.3333.

CRVS has been the subject of several recent analyst reports. Weiss Ratings lowered shares of Corvus Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday. The Goldman Sachs Group assumed coverage on Corvus Pharmaceuticals in a research report on Friday, April 17th. They issued a “buy” rating and a $40.00 price objective for the company. Finally, Wall Street Zen downgraded Corvus Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th.

Insider Activity at Corvus Pharmaceuticals

In related news, Director David Scott Moore acquired 21,700 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The stock was purchased at an average cost of $11.53 per share, with a total value of $250,201.00. Following the transaction, the director directly owned 21,700 shares of the company’s stock, valued at $250,201. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 19.70% of the stock is owned by insiders.

Institutional Trading of Corvus Pharmaceuticals

Several large investors have recently bought and sold shares of the stock. DCF Advisers LLC acquired a new position in Corvus Pharmaceuticals in the 4th quarter worth about $5,613,000. Emerald Mutual Fund Advisers Trust acquired a new stake in Corvus Pharmaceuticals in the first quarter valued at approximately $6,719,000. Emerald Advisers LLC acquired a new stake in Corvus Pharmaceuticals in the first quarter valued at approximately $10,039,000. Simplify Asset Management Inc. purchased a new stake in shares of Corvus Pharmaceuticals in the first quarter valued at approximately $296,000. Finally, SG Americas Securities LLC increased its position in shares of Corvus Pharmaceuticals by 76.9% in the first quarter. SG Americas Securities LLC now owns 35,420 shares of the company’s stock valued at $518,000 after buying an additional 15,399 shares in the last quarter. Hedge funds and other institutional investors own 46.64% of the company’s stock.

Corvus Pharmaceuticals Trading Up 1.8%

Shares of NASDAQ:CRVS opened at $14.97 on Wednesday. The company has a market capitalization of $1.26 billion, a PE ratio of -28.79 and a beta of 0.82. Corvus Pharmaceuticals has a 12-month low of $3.96 and a 12-month high of $26.95. The business’s fifty day simple moving average is $13.33 and its 200-day simple moving average is $14.56.

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

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.