Corvus Pharmaceuticals (NASDAQ:CRVS) Trading Up 7.4% – Still a Buy?

Shares of Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) rose 7.4% during trading on Friday . The company traded as high as $8.65 and last traded at $8.5930. Approximately 367,694 shares traded hands during mid-day trading, a decline of 56% from the average daily volume of 829,617 shares. The stock had previously closed at $8.00.

Wall Street Analysts Forecast Growth

CRVS has been the topic of a number of research reports. Barclays assumed coverage on Corvus Pharmaceuticals in a research report on Monday, October 13th. They set an “overweight” rating and a $16.00 price objective on the stock. Mizuho set a $13.00 price target on shares of Corvus Pharmaceuticals in a research note on Wednesday, October 29th. Weiss Ratings restated a “sell (d-)” rating on shares of Corvus Pharmaceuticals in a research note on Wednesday, October 8th. Finally, Wall Street Zen raised shares of Corvus Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Four analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Corvus Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus target price of $14.25.

Corvus Pharmaceuticals Price Performance

The company has a market cap of $648.22 million, a P/E ratio of -16.25 and a beta of 0.56. The business’s 50 day moving average price is $7.03 and its 200-day moving average price is $5.22.

Corvus Pharmaceuticals (NASDAQ:CRVS) last released its earnings results on Tuesday, November 4th. The company reported ($0.12) EPS for the quarter, beating the consensus estimate of ($0.14) by $0.02. As a group, research analysts forecast that Corvus Pharmaceuticals, Inc. will post -0.63 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CRVS. Russell Investments Group Ltd. acquired a new stake in Corvus Pharmaceuticals in the 3rd quarter valued at about $49,000. Police & Firemen s Retirement System of New Jersey bought a new stake in Corvus Pharmaceuticals in the second quarter valued at approximately $49,000. BNP Paribas Financial Markets lifted its position in shares of Corvus Pharmaceuticals by 125.9% in the third quarter. BNP Paribas Financial Markets now owns 12,516 shares of the company’s stock valued at $92,000 after buying an additional 6,975 shares during the last quarter. Sender Co & Partners Inc. bought a new position in shares of Corvus Pharmaceuticals during the 2nd quarter worth approximately $52,000. Finally, ProShare Advisors LLC acquired a new position in shares of Corvus Pharmaceuticals during the 2nd quarter worth approximately $54,000. 46.64% of the stock is currently owned by institutional investors and hedge funds.

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.