Corvus Pharmaceuticals (NASDAQ:CRVS) Shares Up 7.1% – Should You Buy?

by · The Markets Daily

Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS – Get Free Report)’s stock price shot up 7.1% on Monday . The stock traded as high as $9.46 and last traded at $9.4340. 152,113 shares were traded during mid-day trading, a decline of 82% from the average session volume of 834,259 shares. The stock had previously closed at $8.81.

Analysts Set New Price Targets

CRVS has been the topic of several research analyst reports. Mizuho set a $13.00 target price on shares of Corvus Pharmaceuticals in a research note on Wednesday, October 29th. Wall Street Zen raised shares of Corvus Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Weiss Ratings restated a “sell (d-)” rating on shares of Corvus Pharmaceuticals in a research note on Wednesday, October 8th. Finally, Barclays began coverage on Corvus Pharmaceuticals in a research report on Monday, October 13th. They issued an “overweight” rating and a $16.00 target price for the company. Four research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $14.25.

Get Our Latest Analysis on CRVS

Corvus Pharmaceuticals Stock Down 1.9%

The stock has a market capitalization of $635.38 million, a P/E ratio of -16.12 and a beta of 0.64. The business’s 50 day simple moving average is $7.92 and its two-hundred day simple moving average is $5.89.

Corvus Pharmaceuticals (NASDAQ:CRVS – Get Free Report) last posted its earnings results on Tuesday, November 4th. The company reported ($0.12) EPS for the quarter, topping the consensus estimate of ($0.14) by $0.02. Analysts predict that Corvus Pharmaceuticals, Inc. will post -0.63 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Quarry LP purchased a new position in shares of Corvus Pharmaceuticals during the third quarter valued at approximately $27,000. Jain Global LLC purchased a new stake in Corvus Pharmaceuticals in the 3rd quarter valued at $204,000. Brevan Howard Capital Management LP bought a new position in Corvus Pharmaceuticals during the 3rd quarter valued at $113,000. Bank of America Corp DE boosted its holdings in Corvus Pharmaceuticals by 14.5% during the 3rd quarter. Bank of America Corp DE now owns 151,966 shares of the company’s stock worth $1,120,000 after acquiring an additional 19,237 shares during the last quarter. Finally, Creative Planning purchased a new position in Corvus Pharmaceuticals during the 3rd quarter worth $186,000. Institutional investors own 46.64% of the company’s stock.

Corvus Pharmaceuticals Company Profile

(Get Free Report)

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.

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