Corvus Pharmaceuticals (NASDAQ:CRVS) Shares Up 8.4% – What’s Next?
by Michael Walen · The Markets DailyCorvus Pharmaceuticals, Inc. (NASDAQ:CRVS – Get Free Report) was up 8.4% on Wednesday . The stock traded as high as $14.27 and last traded at $14.2550. Approximately 550,268 shares were traded during mid-day trading, a decline of 85% from the average daily volume of 3,613,761 shares. The stock had previously closed at $13.15.
Wall Street Analyst Weigh In
Several research firms recently issued reports on CRVS. Wall Street Zen lowered Corvus Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday, March 14th. Cantor Fitzgerald restated an “overweight” rating on shares of Corvus Pharmaceuticals in a research note on Friday, March 13th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Corvus Pharmaceuticals in a research report on Wednesday, January 21st. Mizuho set a $30.00 price objective on Corvus Pharmaceuticals in a report on Thursday, January 29th. Finally, Barclays raised their target price on shares of Corvus Pharmaceuticals from $16.00 to $28.00 and gave the company an “overweight” rating in a research note on Tuesday, January 20th. Six research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Corvus Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus target price of $32.00.
Read Our Latest Report on Corvus Pharmaceuticals
Corvus Pharmaceuticals Stock Down 1.1%
The stock has a market cap of $1.18 billion, a P/E ratio of -28.14 and a beta of 0.78. The firm has a 50 day simple moving average of $17.79 and a 200-day simple moving average of $11.07.
Corvus Pharmaceuticals (NASDAQ:CRVS – Get Free Report) last posted its earnings results on Thursday, March 12th. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.01). On average, equities analysts anticipate that Corvus Pharmaceuticals, Inc. will post -0.63 earnings per share for the current year.
Institutional Trading of Corvus Pharmaceuticals
A number of hedge funds have recently modified their holdings of CRVS. Quarry LP bought a new stake in shares of Corvus Pharmaceuticals during the 3rd quarter worth about $27,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in Corvus Pharmaceuticals by 26.0% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,629 shares of the company’s stock valued at $28,000 after acquiring an additional 748 shares during the period. Police & Firemen s Retirement System of New Jersey acquired a new stake in Corvus Pharmaceuticals during the second quarter worth approximately $49,000. Russell Investments Group Ltd. acquired a new stake in Corvus Pharmaceuticals during the third quarter worth approximately $49,000. Finally, Sender Co & Partners Inc. bought a new stake in shares of Corvus Pharmaceuticals during the second quarter worth approximately $52,000. Institutional investors and hedge funds own 46.64% of the company’s stock.
Corvus Pharmaceuticals Company Profile
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.