Corvus Pharmaceuticals (NASDAQ:CRVS) Trading Up 6% – Should You Buy?

Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) traded up 6% during mid-day trading on Friday . The stock traded as high as $8.19 and last traded at $8.14. 116,020 shares were traded during trading, a decline of 63% from the average session volume of 311,085 shares. The stock had previously closed at $7.68.

Wall Street Analysts Forecast Growth

CRVS has been the subject of several research analyst reports. StockNews.com upgraded shares of Corvus Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Wednesday. Mizuho upgraded Corvus Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research note on Tuesday. Finally, LADENBURG THALM/SH SH upped their price objective on Corvus Pharmaceuticals from $12.00 to $21.00 and gave the stock a “buy” rating in a research report on Monday, September 16th. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $10.83.

Corvus Pharmaceuticals Stock Up 7.8 %

The firm has a market cap of $517.92 million, a price-to-earnings ratio of -15.63 and a beta of 1.14. The firm has a 50 day moving average of $5.33 and a 200 day moving average of $3.23.

Corvus Pharmaceuticals (NASDAQ:CRVS) last announced its quarterly earnings data on Tuesday, August 6th. The company reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.12) by $0.05. During the same quarter last year, the company posted ($0.14) EPS. Equities analysts expect that Corvus Pharmaceuticals, Inc. will post -0.45 EPS for the current year.

Hedge Funds Weigh In On Corvus Pharmaceuticals

Several institutional investors have recently modified their holdings of CRVS. Cubist Systematic Strategies LLC bought a new position in Corvus Pharmaceuticals in the 2nd quarter valued at $44,000. Marshall Wace LLP purchased a new position in shares of Corvus Pharmaceuticals during the 2nd quarter valued at $136,000. Avity Investment Management Inc. grew its stake in shares of Corvus Pharmaceuticals by 138.2% during the 3rd quarter. Avity Investment Management Inc. now owns 27,580 shares of the company’s stock worth $146,000 after acquiring an additional 16,000 shares during the period. Towerview LLC raised its stake in Corvus Pharmaceuticals by 4.6% in the 2nd quarter. Towerview LLC now owns 400,000 shares of the company’s stock valued at $728,000 after acquiring an additional 17,500 shares during the period. Finally, Vanguard Group Inc. raised its position in shares of Corvus Pharmaceuticals by 10.6% in the first quarter. Vanguard Group Inc. now owns 1,493,357 shares of the company’s stock valued at $2,658,000 after purchasing an additional 142,724 shares during the period. 46.64% of the stock is owned by institutional investors.

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.