Cantor Fitzgerald Brokers Cut Earnings Estimates for CRVS

Key Points

• Cantor Fitzgerald has lowered its FY2026 earnings estimates for Corvus Pharmaceuticals to ($0.69) per share, down from ($0.62), while the consensus estimate stands at ($0.63).
• Shares of Corvus Pharmaceuticals are currently trading at $4.76, with a market capitalization of $354.30 million and a 52-week range between $2.54 and $10.00.
• Insider trading activity includes Director Peter A. Thompson selling over 1.1 million shares, reducing his position by 14.10%, and highlighting significant activity among hedge funds in the company.

Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS - Free Report) - Stock analysts at Cantor Fitzgerald cut their FY2026 earnings per share (EPS) estimates for shares of Corvus Pharmaceuticals in a research report issued to clients and investors on Tuesday, August 12th. Cantor Fitzgerald analyst L. Watsek now forecasts that the company will earn ($0.69) per share for the year, down from their previous forecast of ($0.62). The consensus estimate for Corvus Pharmaceuticals' current full-year earnings is ($0.63) per share.

CRVS has been the topic of a number of other reports. Mizuho set a $11.00 price objective on Corvus Pharmaceuticals and gave the stock an "outperform" rating in a research report on Tuesday, May 20th. Wall Street Zen upgraded Corvus Pharmaceuticals from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. Finally, Oppenheimer reiterated an "outperform" rating and issued a $17.00 price objective (up from $15.00) on shares of Corvus Pharmaceuticals in a research report on Friday, May 9th. Four research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $15.00.

Corvus Pharmaceuticals Stock Performance

CRVS stock traded down $0.0960 during trading on Thursday, hitting $5.2240. 245,434 shares of the company traded hands, compared to its average volume of 807,036. Corvus Pharmaceuticals has a 1 year low of $2.54 and a 1 year high of $10.00. The company has a 50-day moving average of $4.29 and a 200-day moving average of $4.03. The firm has a market capitalization of $389.26 million, a PE ratio of -5.16 and a beta of 0.42.

Corvus Pharmaceuticals (NASDAQ:CRVS - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported ($0.10) earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.03.

Insider Activity at Corvus Pharmaceuticals

In other news, Director Peter A. Thompson sold 1,176,332 shares of the firm's stock in a transaction that occurred on Friday, June 27th. The stock was sold at an average price of $4.16, for a total value of $4,893,541.12. Following the completion of the transaction, the director owned 7,165,006 shares in the company, valued at $29,806,424.96. This trade represents a 14.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 28.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Orbimed Advisors LLC raised its stake in Corvus Pharmaceuticals by 3.2% during the second quarter. Orbimed Advisors LLC now owns 7,165,006 shares of the company's stock valued at $28,660,000 after buying an additional 221,352 shares during the last quarter. RTW Investments LP purchased a new position in Corvus Pharmaceuticals during the fourth quarter valued at $14,335,000. Vivo Capital LLC raised its stake in Corvus Pharmaceuticals by 49.2% during the fourth quarter. Vivo Capital LLC now owns 2,234,566 shares of the company's stock valued at $11,955,000 after buying an additional 737,298 shares during the last quarter. Foresite Capital Management VI LLC raised its stake in Corvus Pharmaceuticals by 9.5% during the second quarter. Foresite Capital Management VI LLC now owns 1,731,233 shares of the company's stock valued at $6,925,000 after buying an additional 150,000 shares during the last quarter. Finally, Perceptive Advisors LLC purchased a new position in Corvus Pharmaceuticals during the second quarter valued at $5,754,000. Hedge funds and other institutional investors own 46.64% of the company's stock.

About Corvus Pharmaceuticals

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.