HC Wainwright Brokers Decrease Earnings Estimates for CRVS

Key Points

• HC Wainwright lowered its FY2030 EPS forecast for Corvus Pharmaceuticals to $0.67 from $0.74, below the current consensus estimate of a $0.70 loss per share.
• Corvus reported a quarterly loss of $0.19 per share, missing analysts’ estimate of a $0.16 loss. Despite mixed analyst views, the stock carries a “Moderate Buy” consensus rating and a $33.33 price target.
• CRVS opened at $13.74 and has a market capitalization of approximately $1.16 billion; institutional investors own 46.64% of shares, while insiders own 19.70%.

Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS - Free Report) - Analysts at HC Wainwright lowered their FY2030 earnings estimates for Corvus Pharmaceuticals in a research note issued on Monday, August 10th. HC Wainwright analyst S. Lee now forecasts that the company will post earnings of $0.67 per share for the year, down from their previous forecast of $0.74. The consensus estimate for Corvus Pharmaceuticals' current full-year earnings is ($0.70) per share.

Other equities research analysts have also issued research reports about the company. Wall Street Zen lowered Corvus Pharmaceuticals from a "hold" rating to a "sell" rating in a research note on Saturday, May 9th. The Goldman Sachs Group began coverage on Corvus Pharmaceuticals in a research report on Friday, April 17th. They issued a "buy" rating and a $40.00 price objective for the company. Weiss Ratings upgraded shares of Corvus Pharmaceuticals from a "sell (e+)" rating to a "sell (d-)" rating in a report on Tuesday, July 28th. Finally, LADENBURG THALM/SH SH upgraded shares of Corvus Pharmaceuticals to a "strong-buy" rating in a report on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $33.33.

Corvus Pharmaceuticals Stock Performance

Shares of NASDAQ:CRVS opened at $13.74 on Tuesday. Corvus Pharmaceuticals has a 52-week low of $4.26 and a 52-week high of $26.95. The firm has a fifty day moving average of $13.44 and a 200 day moving average of $15.33. The firm has a market capitalization of $1.16 billion, a PE ratio of -22.52 and a beta of 0.87.

Corvus Pharmaceuticals (NASDAQ:CRVS - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.19) EPS for the quarter, missing analysts' consensus estimates of ($0.16) by ($0.03).

Insider Activity at Corvus Pharmaceuticals

In related news, Director David Scott Moore bought 21,700 shares of the company's 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 transaction, the director owned 21,700 shares in the company, valued at approximately $250,201. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 19.70% of the company's stock.

Hedge Funds Weigh In On Corvus Pharmaceuticals

A number of institutional investors have recently bought and sold shares of CRVS. E Fund Management Co. Ltd. bought a new position in shares of Corvus Pharmaceuticals during the second quarter valued at approximately $172,000. DCF Advisers LLC purchased a new stake in shares of Corvus Pharmaceuticals in the 2nd quarter worth approximately $9,524,000. Meeder Asset Management Inc. bought a new position in Corvus Pharmaceuticals during the 2nd quarter valued at approximately $90,000. BlackRock Inc. bought a new position in Corvus Pharmaceuticals during the 2nd quarter valued at approximately $106,654,000. Finally, Deutsche Bank AG purchased a new position in Corvus Pharmaceuticals during the second quarter valued at $1,113,000. 46.64% of the stock is owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source