HC Wainwright Has Bearish Estimate for CRVS FY2028 Earnings

Key Points

• HC Wainwright has revised its FY2028 earnings estimate for Corvus Pharmaceuticals from $0.07 to $0.06 per share, while the consensus expectation remains at a loss of ($0.63) per share.
• The company recently reported an EPS of ($0.10) for the last quarter, exceeding analyst expectations of ($0.13) by $0.03.
• Corvus Pharmaceuticals' stock has a current price of $4.68, with a market cap of $349 million and a PE ratio of -4.64.

Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS - Free Report) - Research analysts at HC Wainwright decreased their FY2028 earnings per share estimates for shares of Corvus Pharmaceuticals in a research report issued on Monday, August 11th. HC Wainwright analyst S. Lee now expects that the company will earn $0.06 per share for the year, down from their previous estimate of $0.07. The consensus estimate for Corvus Pharmaceuticals' current full-year earnings is ($0.63) per share. HC Wainwright also issued estimates for Corvus Pharmaceuticals' FY2029 earnings at $0.41 EPS.

Corvus Pharmaceuticals (NASDAQ:CRVS - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported ($0.10) EPS for the quarter, beating the consensus estimate of ($0.13) by $0.03.

CRVS has been the subject of a number of other reports. Wall Street Zen raised Corvus Pharmaceuticals from a "sell" rating to a "hold" rating in a research note on Saturday. Oppenheimer reissued an "outperform" rating and issued a $17.00 target price (up from $15.00) on shares of Corvus Pharmaceuticals in a research note on Friday, May 9th. Finally, Mizuho set a $11.00 target price on Corvus Pharmaceuticals and gave the company an "outperform" rating in a research note on Tuesday, May 20th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $15.00.

Corvus Pharmaceuticals Price Performance

Shares of Corvus Pharmaceuticals stock traded up $0.18 on Wednesday, hitting $4.68. 40,431 shares of the company's stock traded hands, compared to its average volume of 808,795. Corvus Pharmaceuticals has a one year low of $2.54 and a one year high of $10.00. The firm's 50-day moving average price is $4.19 and its two-hundred day moving average price is $4.04. The stock has a market capitalization of $349.00 million, a PE ratio of -4.64 and a beta of 0.42.

Hedge Funds Weigh In On Corvus Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Hsbc Holdings PLC bought a new position in Corvus Pharmaceuticals during the second quarter worth about $332,000. Foresite Capital Management VI LLC lifted its position in Corvus Pharmaceuticals by 9.5% during the second quarter. Foresite Capital Management VI LLC now owns 1,731,233 shares of the company's stock worth $6,925,000 after acquiring an additional 150,000 shares during the last quarter. Rhumbline Advisers lifted its position in Corvus Pharmaceuticals by 9,501.8% during the second quarter. Rhumbline Advisers now owns 75,950 shares of the company's stock worth $304,000 after acquiring an additional 75,159 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Corvus Pharmaceuticals by 541.9% in the second quarter. JPMorgan Chase & Co. now owns 30,420 shares of the company's stock valued at $122,000 after buying an additional 25,681 shares in the last quarter. Finally, BML Capital Management LLC acquired a new stake in shares of Corvus Pharmaceuticals in the second quarter valued at approximately $475,000. Institutional investors own 46.64% of the company's stock.

Insider Buying and Selling at Corvus Pharmaceuticals

In related news, Director Peter A. Thompson sold 1,176,332 shares of Corvus Pharmaceuticals stock in a transaction dated Friday, June 27th. The stock was sold at an average price of $4.16, for a total transaction of $4,893,541.12. Following the completion of the transaction, the director owned 7,165,006 shares in the company, valued at approximately $29,806,424.96. This trade represents a 14.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 31.30% of the stock is owned by insiders.

About Corvus Pharmaceuticals

Corvus Pharmaceuticals, Inc, a clinical stage biopharmaceutical company, focuses on the development and commercialization of immune modulator product candidates to treat solid cancers, T cell lymphomas, autoimmune, allergic, and infectious diseases. Its lead product candidate is soquelitinib (CPI-818), a selective covalent inhibitor of interleukin 2 inducible T cell kinase (ITK), which is in a multi-center Phase 1/1b clinical trial for the treatment of peripheral T cell lymphoma, solid tumors, and atopic dermatitis.

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