Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) Given Average Recommendation of "Moderate Buy" by Analysts

Key Points

• Corvus Pharmaceuticals (NASDAQ:CRVS) has an average analyst rating of "Moderate Buy", with one sell rating and four buy ratings among five brokerages covering the stock.
• The average 1-year price objective set by analysts is $13.75, while Barclays recently initiated coverage with an "overweight" rating and a target price of $16.00.
• Corvus Pharmaceuticals reported earnings of ($0.10) per share, surpassing estimates by $0.03, but analysts predict an EPS of –0.63 for the current year.

Shares of Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS - Get Free Report) have been assigned an average rating of "Moderate Buy" from the five brokerages that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $13.75.

Several analysts recently issued reports on CRVS shares. Wall Street Zen raised shares of Corvus Pharmaceuticals from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Barclays began coverage on shares of Corvus Pharmaceuticals in a report on Monday. They set an "overweight" rating and a $16.00 target price on the stock. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Corvus Pharmaceuticals in a report on Wednesday, October 8th.

Corvus Pharmaceuticals Trading Down 4.4%

Shares of CRVS stock opened at $6.93 on Monday. The company has a market capitalization of $516.35 million, a PE ratio of -6.86 and a beta of 0.57. The firm has a fifty day simple moving average of $5.83 and a 200-day simple moving average of $4.49. Corvus Pharmaceuticals has a twelve month low of $2.54 and a twelve month high of $10.00.

Corvus Pharmaceuticals (NASDAQ:CRVS - Get Free Report) last announced 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. Equities research analysts predict that Corvus Pharmaceuticals will post -0.63 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Shelton Wealth Management LLC acquired a new position in Corvus Pharmaceuticals during the 3rd quarter valued at about $101,000. China Universal Asset Management Co. Ltd. increased its stake in Corvus Pharmaceuticals by 20.2% during the 2nd quarter. China Universal Asset Management Co. Ltd. now owns 15,488 shares of the company's stock valued at $62,000 after buying an additional 2,599 shares during the period. Squarepoint Ops LLC increased its stake in Corvus Pharmaceuticals by 37.0% during the 2nd quarter. Squarepoint Ops LLC now owns 138,462 shares of the company's stock valued at $554,000 after buying an additional 37,430 shares during the period. Sender Co & Partners Inc. acquired a new position in Corvus Pharmaceuticals during the 2nd quarter valued at about $52,000. Finally, Perceptive Advisors LLC acquired a new position in Corvus Pharmaceuticals during the 2nd quarter valued at about $5,754,000. 46.64% of the stock is owned by institutional investors and hedge funds.

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.

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