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

Key Points

• Analyst sentiment is moderately bullish: Eight analysts rate Corvus Pharmaceuticals “Moderate Buy,” including six buys and one strong buy, with an average 12-month price target of $33.33 versus the reported $13.92 share price.
• Institutional and insider ownership increased: A company director purchased 21,700 shares for approximately $250,000, while institutional investors and hedge funds own 46.64% of the stock.
• Recent results fell short of expectations: Corvus reported a quarterly loss of $0.19 per share, missing the $0.16 loss consensus estimate; analysts expect a full-year loss of approximately $0.70 per share.

Shares of Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS - Get Free Report) have been given an average recommendation of "Moderate Buy" by the eight research firms that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, six have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $33.3333.

Several equities research analysts have weighed in on CRVS shares. Weiss Ratings upgraded shares of Corvus Pharmaceuticals from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Tuesday, July 28th. The Goldman Sachs Group initiated coverage on Corvus Pharmaceuticals in a report on Friday, April 17th. They set a "buy" rating and a $40.00 price objective for the company. Wall Street Zen cut Corvus Pharmaceuticals from a "hold" rating to a "sell" rating in a research report on Saturday, May 9th. Finally, LADENBURG THALM/SH SH upgraded Corvus Pharmaceuticals to a "strong-buy" rating in a research note on Thursday, July 30th.

Insider Buying and Selling

In other Corvus Pharmaceuticals news, Director David Scott Moore purchased 21,700 shares of the stock in a transaction on Thursday, June 11th. The stock was acquired at an average price of $11.53 per share, with a total value of $250,201.00. Following the completion of the acquisition, the director owned 21,700 shares in the company, valued at $250,201. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 19.70% of the company's stock.

Hedge Funds Weigh In On Corvus Pharmaceuticals

Hedge funds have recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. boosted its stake in Corvus Pharmaceuticals by 26.0% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,629 shares of the company's stock worth $28,000 after purchasing an additional 748 shares in the last quarter. ProShare Advisors LLC grew its position in Corvus Pharmaceuticals by 7.7% during the 4th quarter. ProShare Advisors LLC now owns 13,764 shares of the company's stock worth $106,000 after purchasing an additional 979 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in Corvus Pharmaceuticals by 5.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 34,105 shares of the company's stock valued at $263,000 after purchasing an additional 1,696 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Corvus Pharmaceuticals by 6.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 32,232 shares of the company's stock valued at $238,000 after purchasing an additional 1,812 shares in the last quarter. Finally, Shelton Wealth Management LLC raised its holdings in shares of Corvus Pharmaceuticals by 13.8% in the fourth quarter. Shelton Wealth Management LLC now owns 15,638 shares of the company's stock worth $120,000 after buying an additional 1,896 shares during the last quarter. Institutional investors and hedge funds own 46.64% of the company's stock.

Corvus Pharmaceuticals Stock Performance

NASDAQ:CRVS opened at $13.92 on Friday. The company's 50-day simple moving average is $13.41 and its 200-day simple moving average is $15.34. Corvus Pharmaceuticals has a fifty-two week low of $4.12 and a fifty-two week high of $26.95. The stock has a market capitalization of $1.17 billion, a P/E ratio of -22.82 and a beta of 0.87.

Corvus Pharmaceuticals (NASDAQ:CRVS - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.19) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.03). On average, research analysts forecast that Corvus Pharmaceuticals will post -0.7 EPS for the current year.

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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