Corvus Pharmaceuticals (NASDAQ:CRVS) PT Raised to $8.00 at Oppenheimer

Corvus Pharmaceuticals (NASDAQ:CRVS) had its price objective increased by research analysts at Oppenheimer from $7.00 to $8.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Oppenheimer’s target price would indicate a potential upside of 308.16% from the company’s current price.

CRVS has been the subject of several other reports. Cantor Fitzgerald restated an “overweight” rating on shares of Corvus Pharmaceuticals in a research report on Monday, April 1st. Mizuho reiterated a “neutral” rating and issued a $3.50 price target on shares of Corvus Pharmaceuticals in a research report on Wednesday, March 27th.

Corvus Pharmaceuticals Stock Up 16.7 %

NASDAQ CRVS opened at $1.96 on Tuesday. The company has a market cap of $96.12 million, a price-to-earnings ratio of -3.77 and a beta of 1.05. Corvus Pharmaceuticals has a twelve month low of $1.05 and a twelve month high of $4.19. The business’s fifty day moving average is $1.77 and its 200 day moving average is $1.78.

Corvus Pharmaceuticals (NASDAQ:CRVS) last announced its quarterly earnings results on Tuesday, March 19th. The company reported ($0.14) EPS for the quarter, meeting analysts’ consensus estimates of ($0.14). On average, research analysts anticipate that Corvus Pharmaceuticals will post -0.47 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Richard A. Md Miller purchased 577,634 shares of Corvus Pharmaceuticals stock in a transaction on Monday, May 6th. The stock was acquired at an average cost of $1.73 per share, for a total transaction of $999,306.82. Following the completion of the acquisition, the chief executive officer now owns 577,634 shares of the company’s stock, valued at approximately $999,306.82. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CEO Richard A. Md Miller purchased 577,634 shares of the business’s stock in a transaction on Monday, May 6th. The shares were acquired at an average price of $1.73 per share, for a total transaction of $999,306.82. Following the completion of the acquisition, the chief executive officer now owns 577,634 shares in the company, valued at $999,306.82. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider William Benton Jones acquired 20,000 shares of Corvus Pharmaceuticals stock in a transaction on Monday, May 6th. The stock was purchased at an average cost of $1.73 per share, with a total value of $34,600.00. Following the purchase, the insider now directly owns 153,773 shares of the company’s stock, valued at approximately $266,027.29. The disclosure for this purchase can be found here. 31.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Corvus Pharmaceuticals stock. Towerview LLC raised its stake in shares of Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) by 67.1% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 342,478 shares of the company’s stock after purchasing an additional 137,478 shares during the period. Corvus Pharmaceuticals makes up approximately 0.3% of Towerview LLC’s portfolio, making the stock its 18th biggest holding. Towerview LLC owned about 0.70% of Corvus Pharmaceuticals worth $500,000 as of its most recent SEC filing. 46.64% of the stock is currently owned by institutional investors.

About Corvus Pharmaceuticals

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.