Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) Stock Now Rated “Moderate Buy” by Wall Street Brokerages

by · The Markets Daily

Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS – Get Free Report) has been assigned a consensus recommendation of “Moderate Buy” from the eight ratings firms that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, six have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $33.33.

A number of analysts have weighed in on the company. Weiss Ratings upgraded Corvus Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, July 28th. LADENBURG THALM/SH SH upgraded Corvus Pharmaceuticals to a “strong-buy” rating in a research report on Thursday, July 30th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Corvus Pharmaceuticals in a research report on Wednesday, September 16th.

View Our Latest Stock Analysis on Corvus Pharmaceuticals

Corvus Pharmaceuticals Stock Performance

NASDAQ:CRVS opened at $10.90 on Monday. Corvus Pharmaceuticals has a 52 week low of $6.39 and a 52 week high of $26.95. The firm’s fifty day moving average is $13.51 and its 200-day moving average is $13.85. The firm has a market cap of $916.91 million, a P/E ratio of -17.87 and a beta of 1.44.

Corvus Pharmaceuticals (NASDAQ:CRVS – Get Free Report) last announced 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). As a group, sell-side analysts anticipate that Corvus Pharmaceuticals will post -0.79 earnings per share for the current year.

Hedge Funds Weigh In On Corvus Pharmaceuticals

A number of institutional investors and hedge funds have recently modified their holdings of the business. Tidal Investments LLC lifted its position in shares of Corvus Pharmaceuticals by 26.4% during the 2nd quarter. Tidal Investments LLC now owns 136,276 shares of the company’s stock valued at $2,036,000 after acquiring an additional 28,501 shares during the period. Engineers Gate Manager LP acquired a new stake in Corvus Pharmaceuticals in the second quarter worth $538,000. Integrated Wealth Concepts LLC bought a new stake in Corvus Pharmaceuticals in the second quarter valued at $122,000. Arizona State Retirement System bought a new stake in Corvus Pharmaceuticals in the second quarter valued at $260,000. Finally, Braidwell LP raised its holdings in shares of Corvus Pharmaceuticals by 21.3% during the second quarter. Braidwell LP now owns 2,126,298 shares of the company’s stock valued at $31,767,000 after purchasing an additional 373,500 shares during the period. 46.64% of the stock is currently owned by institutional investors.

About Corvus Pharmaceuticals

(Get Free Report)

Corvus Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on developing medicines that modulate the immune system to treat cancer and other serious diseases. The company’s research is centered on therapies designed to influence immune-cell signaling and activity, with the goal of improving the body’s ability to respond to disease.

Corvus’ leading investigational product is soquelitinib, formerly known as CPI-818. It is an oral, selective inhibitor of inducible T-cell kinase (ITK) being studied for the treatment of T-cell lymphomas and potentially other cancers.

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