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

Key Points

• Corvus Pharmaceuticals has a consensus analyst rating of “Moderate Buy”, based on seven analysts: six rate it a buy and one a sell. The average 12-month price target is about $33.33.
• The stock was trading around $14.97, with a market cap of $1.26 billion, and it has moved between a 12-month low of $3.96 and high of $26.95. Its recent earnings came in slightly below estimates, posting -$0.15 EPS versus the expected -$0.14.
• There was notable insider buying, as director David Scott Moore purchased 21,700 shares for about $250,201. Institutional investors also increased stakes, and hedge funds and other institutions now own 46.64% of the company.

Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the seven analysts that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating and six have assigned a buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $33.3333.

Several brokerages have recently weighed in on CRVS. The Goldman Sachs Group began coverage on Corvus Pharmaceuticals in a report on Friday, April 17th. They issued a "buy" rating and a $40.00 price target on the stock. Weiss Ratings cut Corvus Pharmaceuticals from a "sell (d-)" rating to a "sell (e+)" rating in a report on Friday. Finally, Wall Street Zen downgraded Corvus Pharmaceuticals from a "hold" rating to a "sell" rating in a research report on Saturday, May 9th.

Corvus Pharmaceuticals Trading Up 1.8%

Shares of CRVS opened at $14.97 on Wednesday. The company's fifty day simple moving average is $13.33 and its 200-day simple moving average is $14.56. The company has a market cap of $1.26 billion, a P/E ratio of -28.79 and a beta of 0.82. Corvus Pharmaceuticals has a twelve month low of $3.96 and a twelve month high of $26.95.

Corvus Pharmaceuticals (NASDAQ:CRVS - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The company reported ($0.15) EPS for the quarter, missing analysts' consensus estimates of ($0.14) by ($0.01). Analysts predict that Corvus Pharmaceuticals will post -0.7 earnings per share for the current fiscal year.

Insider Activity

In related news, Director David Scott Moore bought 21,700 shares of the stock in a transaction dated Thursday, June 11th. The stock was purchased at an average cost of $11.53 per share, with a total value of $250,201.00. Following the completion of the purchase, the director owned 21,700 shares of the company's stock, valued at $250,201. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 19.70% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CRVS. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Corvus Pharmaceuticals by 26.0% in the fourth 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 in the last quarter. ProShare Advisors LLC raised its holdings in shares of Corvus Pharmaceuticals by 7.7% in the 4th quarter. ProShare Advisors LLC now owns 13,764 shares of the company's stock valued at $106,000 after purchasing an additional 979 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Corvus Pharmaceuticals by 5.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 34,105 shares of the company's stock worth $263,000 after purchasing an additional 1,696 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Corvus Pharmaceuticals by 6.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 32,232 shares of the company's stock worth $238,000 after purchasing an additional 1,812 shares during the period. Finally, Shelton Wealth Management LLC boosted its stake in shares of Corvus Pharmaceuticals by 13.8% during the fourth quarter. Shelton Wealth Management LLC now owns 15,638 shares of the company's stock valued at $120,000 after purchasing an additional 1,896 shares in the last quarter. Hedge funds and other institutional investors 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.

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