Corvus Pharmaceuticals (NASDAQ:CRVS) Shares Up 5.1% - What's Next?

Key Points

• Corvus Pharmaceuticals shares rose 5.1% in Friday trading, reaching an intraday high of $14.91 and last trading near $14.99. Volume was far below average, with about 120,438 shares traded versus a normal daily volume of 2.37 million.
• Analyst sentiment remains generally positive despite some recent downgrades. The stock carries a Moderate Buy consensus rating and an average price target of $33.33, with Goldman Sachs assigning a $40 target.
• The company recently reported a Q1 EPS loss of $0.15, slightly worse than expectations, and insiders have shown confidence: Director David Scott Moore bought 21,700 shares in June. Institutional ownership is also notable at 46.64%.

Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS - Get Free Report)'s share price traded up 5.1% during mid-day trading on Friday . The stock traded as high as $14.91 and last traded at $14.9910. Approximately 120,438 shares were traded during trading, a decline of 95% from the average daily volume of 2,365,483 shares. The stock had previously closed at $14.27.

Analyst Ratings Changes

CRVS has been the topic of a number of analyst reports. The Goldman Sachs Group began coverage on shares of Corvus Pharmaceuticals in a research report on Friday, April 17th. They issued a "buy" rating and a $40.00 price target on the stock. Weiss Ratings cut shares of Corvus Pharmaceuticals from a "sell (d-)" rating to a "sell (e+)" rating in a report on Friday, July 10th. Finally, Wall Street Zen downgraded shares of Corvus Pharmaceuticals from a "hold" rating to a "sell" rating in a research note on Saturday, May 9th. Six investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Corvus Pharmaceuticals presently has a consensus rating of "Moderate Buy" and a consensus target price of $33.33.

Corvus Pharmaceuticals Stock Performance

The company has a 50-day moving average of $13.31 and a 200-day moving average of $14.66. The firm has a market capitalization of $1.26 billion, a price-to-earnings ratio of -28.76 and a beta of 0.82.

Corvus Pharmaceuticals (NASDAQ:CRVS - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.01). As a group, analysts anticipate that Corvus Pharmaceuticals, Inc. will post -0.7 EPS for the current fiscal year.

Insider Buying and Selling at Corvus Pharmaceuticals

In other news, Director David Scott Moore acquired 21,700 shares of Corvus Pharmaceuticals stock in a transaction dated Thursday, June 11th. The stock was bought at an average cost of $11.53 per share, with a total value of $250,201.00. Following the completion of the transaction, the director directly owned 21,700 shares of the company's stock, valued at approximately $250,201. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 19.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Corvus Pharmaceuticals

Institutional investors have recently bought and sold shares of the company. DCF Advisers LLC acquired a new stake in shares of Corvus Pharmaceuticals in the fourth quarter valued at approximately $5,613,000. Emerald Mutual Fund Advisers Trust acquired a new position in Corvus Pharmaceuticals during the first quarter worth $6,719,000. Emerald Advisers LLC bought a new position in Corvus Pharmaceuticals in the first quarter valued at $10,039,000. SG Americas Securities LLC increased its stake in Corvus Pharmaceuticals by 76.9% in the 1st quarter. SG Americas Securities LLC now owns 35,420 shares of the company's stock valued at $518,000 after buying an additional 15,399 shares during the last quarter. Finally, Simplify Asset Management Inc. acquired a new stake in Corvus Pharmaceuticals in the 1st quarter valued at $296,000. 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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