LADENBURG THALM/SH SH Upgrades Corvus Pharmaceuticals (NASDAQ:CRVS) to Strong-Buy

Corvus Pharmaceuticals (NASDAQ:CRVS) was upgraded by investment analysts at LADENBURG THALM/SH SH to a “strong-buy” rating in a research note issued to investors on Thursday,Zacks.com reports.

A number of other brokerages have also weighed in on CRVS. 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 target price on the stock. Wall Street Zen downgraded shares of Corvus Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Finally, Weiss Ratings upgraded shares of Corvus Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $33.33.

Corvus Pharmaceuticals Stock Performance

CRVS stock opened at $13.19 on Thursday. The stock’s 50 day simple moving average is $13.28 and its 200 day simple moving average is $15.11. Corvus Pharmaceuticals has a fifty-two week low of $3.96 and a fifty-two week high of $26.95. The company has a market cap of $1.11 billion, a P/E ratio of -25.36 and a beta of 0.82.

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

Insider Activity

In other news, Director David Scott Moore bought 21,700 shares of Corvus Pharmaceuticals stock in a transaction dated Thursday, June 11th. The stock was purchased at an average price of $11.53 per share, for a total transaction of $250,201.00. Following the purchase, the director directly owned 21,700 shares in the company, valued at $250,201. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 19.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. Quarry LP bought a new position in shares of Corvus Pharmaceuticals during the third quarter valued at about $27,000. Mirae Asset Global Investments Co. Ltd. grew its position in Corvus Pharmaceuticals by 26.0% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,629 shares of the company’s stock worth $28,000 after purchasing an additional 748 shares in the last quarter. Russell Investments Group Ltd. bought a new stake in Corvus Pharmaceuticals in the 3rd quarter worth about $49,000. Sender Co & Partners Inc. purchased a new stake in Corvus Pharmaceuticals in the 2nd quarter valued at about $52,000. Finally, Bayesian Capital Management LP purchased a new stake in Corvus Pharmaceuticals in the 2nd quarter valued at about $70,000. 46.64% of the stock is owned by institutional investors.

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.