Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) Given Average Recommendation of “Moderate Buy” by Brokerages

Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) has received a consensus recommendation of “Moderate Buy” from the seven analysts that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating and six have issued a buy rating on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $33.3333.

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

Insider Transactions at Corvus Pharmaceuticals

In other Corvus Pharmaceuticals news, Director David Scott Moore purchased 21,700 shares of the business’s stock in a transaction on Thursday, June 11th. The stock was acquired at an average price of $11.53 per share, with a total value of $250,201.00. Following the acquisition, 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 transaction was disclosed in a document filed with the SEC, which is accessible through this link. 19.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Corvus Pharmaceuticals

Hedge funds have recently added to or reduced their stakes in the business. Quarry LP acquired a new stake in Corvus Pharmaceuticals during the 3rd quarter valued at $27,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Corvus Pharmaceuticals by 26.0% during the 4th 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. Russell Investments Group Ltd. acquired a new stake in Corvus Pharmaceuticals during the 3rd quarter valued at $49,000. Sender Co & Partners Inc. acquired a new stake in Corvus Pharmaceuticals during the 2nd quarter valued at $52,000. Finally, Bayesian Capital Management LP acquired a new stake in Corvus Pharmaceuticals during the 2nd quarter valued at $70,000. Institutional investors and hedge funds own 46.64% of the company’s stock.

Corvus Pharmaceuticals Trading Up 2.6%

NASDAQ CRVS opened at $12.96 on Friday. The company has a market cap of $1.09 billion, a PE ratio of -24.93 and a beta of 0.84. Corvus Pharmaceuticals has a 12 month low of $3.71 and a 12 month high of $26.95. The stock has a 50 day moving average of $13.57 and a 200-day moving average of $13.88.

Corvus Pharmaceuticals (NASDAQ:CRVS) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.01). As a group, sell-side analysts predict that Corvus Pharmaceuticals will post -0.7 EPS for the current fiscal 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.