Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) Receives Consensus Rating of “Moderate Buy” from Brokerages

Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) has been assigned a consensus recommendation of “Moderate Buy” from the eight research firms that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, six have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $33.3333.

CRVS has been the topic of several research analyst reports. Weiss Ratings upgraded Corvus Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, July 28th. LADENBURG THALM/SH SH raised shares of Corvus Pharmaceuticals to a “strong-buy” rating in a research report on Thursday, July 30th.

Corvus Pharmaceuticals Stock Performance

CRVS opened at $13.33 on Thursday. Corvus Pharmaceuticals has a twelve month low of $5.64 and a twelve month high of $26.95. The firm has a market cap of $1.12 billion, a PE ratio of -21.85 and a beta of 0.87. The firm’s fifty day moving average is $14.40 and its two-hundred day moving average is $14.40.

Corvus Pharmaceuticals (NASDAQ:CRVS) last released its earnings results on Thursday, August 6th. The company reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.03). Equities analysts forecast that Corvus Pharmaceuticals will post -0.79 EPS for the current fiscal year.

Institutional Trading of Corvus Pharmaceuticals

Hedge funds and other institutional investors have recently bought and sold shares of the business. The Manufacturers Life Insurance Company increased its stake in Corvus Pharmaceuticals by 481.7% in the first quarter. The Manufacturers Life Insurance Company now owns 101,779 shares of the company’s stock valued at $1,489,000 after purchasing an additional 84,282 shares in the last quarter. DCF Advisers LLC purchased a new stake in Corvus Pharmaceuticals during the 2nd quarter worth about $9,524,000. Blue Owl Capital Holdings LP purchased a new stake in shares of Corvus Pharmaceuticals in the second quarter worth about $9,092,000. Renaissance Technologies LLC purchased a new stake in shares of Corvus Pharmaceuticals in the 1st quarter valued at about $1,190,000. Finally, Avidity Partners Management LP bought a new stake in Corvus Pharmaceuticals in the 1st quarter worth approximately $1,682,000. Institutional investors and hedge funds own 46.64% of the company’s stock.

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.