HC Wainwright Reaffirms “Buy” Rating for Corvus Pharmaceuticals (NASDAQ:CRVS)

Corvus Pharmaceuticals (NASDAQ:CRVS)‘s stock had its “buy” rating reissued by research analysts at HC Wainwright in a report issued on Wednesday,Benzinga reports. They currently have a $11.00 price target on the stock. HC Wainwright’s price objective indicates a potential upside of 179.90% from the company’s previous close.

Corvus Pharmaceuticals Stock Down 7.5 %

Shares of Corvus Pharmaceuticals stock opened at $3.93 on Wednesday. The company has a market cap of $252.53 million, a PE ratio of -4.23 and a beta of 0.91. The business has a 50 day moving average of $4.70 and a 200 day moving average of $6.09. Corvus Pharmaceuticals has a 52 week low of $1.30 and a 52 week high of $10.00.

Corvus Pharmaceuticals (NASDAQ:CRVS) last posted its earnings results on Tuesday, March 25th. The company reported ($0.18) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.06). On average, research analysts anticipate that Corvus Pharmaceuticals will post -0.63 earnings per share for the current year.

Hedge Funds Weigh In On Corvus Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Virtus ETF Advisers LLC bought a new position in shares of Corvus Pharmaceuticals in the 4th quarter worth about $47,000. Nwam LLC purchased a new stake in Corvus Pharmaceuticals in the third quarter worth about $53,000. PKS Advisory Services LLC bought a new position in shares of Corvus Pharmaceuticals during the fourth quarter valued at approximately $56,000. Alpine Global Management LLC purchased a new position in shares of Corvus Pharmaceuticals during the fourth quarter valued at approximately $62,000. Finally, ExodusPoint Capital Management LP bought a new stake in shares of Corvus Pharmaceuticals in the 4th quarter worth approximately $72,000. Hedge funds and other institutional investors own 46.64% of the company’s stock.

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.