Corvus Pharmaceuticals (NASDAQ:CRVS) Issues Earnings Results

Key Points

• Corvus Pharmaceuticals reported quarterly earnings of ($0.15) per share, narrowly missing analyst estimates of ($0.14) by one cent.
• The stock rose 6.6% after the report, trading at $15.55 on Friday, with a market cap of about $1.31 billion.
• Analyst sentiment remains positive overall: 7 Buy ratings versus 1 Sell, with a consensus rating of Moderate Buy and an average target price of $33.33.

Corvus Pharmaceuticals (NASDAQ:CRVS - Get Free Report) released its quarterly earnings data on Thursday. The company reported ($0.15) EPS for the quarter, missing analysts' consensus estimates of ($0.14) by ($0.01), FiscalAI reports.

Corvus Pharmaceuticals Stock Up 6.6%

Shares of Corvus Pharmaceuticals stock traded up $0.96 during trading on Friday, reaching $15.55. The company's stock had a trading volume of 980,529 shares, compared to its average volume of 1,343,632. The business's 50-day moving average price is $15.52 and its 200-day moving average price is $12.83. The firm has a market cap of $1.31 billion, a PE ratio of -29.90 and a beta of 0.94. Corvus Pharmaceuticals has a 52 week low of $3.38 and a 52 week high of $26.95.

Analyst Ratings Changes

CRVS has been the subject of a number of recent research reports. Jefferies Financial Group boosted their target price on shares of Corvus Pharmaceuticals from $13.00 to $42.00 and gave the company a "buy" rating in a research report on Thursday, January 22nd. Weiss Ratings raised shares of Corvus Pharmaceuticals from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Wednesday, April 29th. Mizuho set a $30.00 target price on shares of Corvus Pharmaceuticals in a research report on Thursday, January 29th. Cantor Fitzgerald reissued an "overweight" rating on shares of Corvus Pharmaceuticals in a research report on Friday, March 13th. Finally, Wall Street Zen raised shares of Corvus Pharmaceuticals from a "sell" rating to a "hold" rating in a research report on Saturday, April 25th. Seven research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $33.33.

Institutional Investors Weigh In On Corvus Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the company. Quarry LP bought a new stake in Corvus Pharmaceuticals during the third quarter worth about $27,000. Russell Investments Group Ltd. bought a new stake in Corvus Pharmaceuticals during the third quarter worth about $49,000. Truvestments Capital LLC lifted its position in Corvus Pharmaceuticals by 86.1% during the fourth quarter. Truvestments Capital LLC now owns 10,257 shares of the company's stock worth $79,000 after purchasing an additional 4,744 shares during the period. Captrust Financial Advisors bought a new stake in Corvus Pharmaceuticals during the fourth quarter worth about $85,000. Finally, Fox Run Management L.L.C. bought a new stake in Corvus Pharmaceuticals during the fourth quarter worth about $86,000. Institutional investors own 46.64% of the company's stock.

About Corvus Pharmaceuticals

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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