Brokerages Set Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) Target Price at $12.38

Shares of Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) have been given an average recommendation of “Buy” by the five research firms that are presently covering the stock, Marketbeat reports. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $12.38.

Several research firms recently commented on CRVS. StockNews.com downgraded shares of Corvus Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Thursday, October 31st. Oppenheimer raised their target price on shares of Corvus Pharmaceuticals from $8.00 to $14.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Finally, HC Wainwright reiterated a “buy” rating and issued a $11.00 price target on shares of Corvus Pharmaceuticals in a research report on Tuesday, January 14th.

Corvus Pharmaceuticals Stock Performance

Shares of CRVS opened at $3.94 on Friday. The firm has a market cap of $253.17 million, a P/E ratio of -4.24 and a beta of 1.07. Corvus Pharmaceuticals has a 52 week low of $1.30 and a 52 week high of $10.00. The firm’s 50-day simple moving average is $5.08 and its 200 day simple moving average is $6.05.

Hedge Funds Weigh In On Corvus Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC grew its stake in shares of Corvus Pharmaceuticals by 22.4% during the third quarter. Geode Capital Management LLC now owns 563,009 shares of the company’s stock worth $2,974,000 after buying an additional 102,869 shares during the last quarter. Jane Street Group LLC bought a new stake in Corvus Pharmaceuticals during the 3rd quarter worth $265,000. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Corvus Pharmaceuticals by 64.7% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 137,031 shares of the company’s stock worth $724,000 after purchasing an additional 53,809 shares in the last quarter. State Street Corp raised its position in Corvus Pharmaceuticals by 48.2% in the third quarter. State Street Corp now owns 178,246 shares of the company’s stock valued at $941,000 after purchasing an additional 57,943 shares during the last quarter. Finally, XTX Topco Ltd acquired a new stake in shares of Corvus Pharmaceuticals during the third quarter valued at about $74,000. Institutional investors own 46.64% of the company’s stock.

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.