Corvus Pharmaceuticals (NASDAQ:CRVS) Price Target Raised to $8.00

Corvus Pharmaceuticals (NASDAQ:CRVS - Free Report) had its target price hoisted by Oppenheimer from $7.00 to $8.00 in a report issued on Tuesday morning, Benzinga reports. Oppenheimer currently has an outperform rating on the stock.

A number of other brokerages have also commented on CRVS. Mizuho reiterated a neutral rating and issued a $3.50 price objective on shares of Corvus Pharmaceuticals in a research report on Wednesday, March 27th. Cantor Fitzgerald reiterated an overweight rating on shares of Corvus Pharmaceuticals in a research report on Monday, April 1st.

Corvus Pharmaceuticals Price Performance

Shares of NASDAQ:CRVS traded down $0.23 during midday trading on Tuesday, reaching $1.68. The company's stock had a trading volume of 1,011,849 shares, compared to its average volume of 221,137. The business's fifty day simple moving average is $1.78 and its 200-day simple moving average is $1.78. Corvus Pharmaceuticals has a fifty-two week low of $1.05 and a fifty-two week high of $4.19. The company has a market capitalization of $82.39 million, a P/E ratio of -2.95 and a beta of 1.05.

Corvus Pharmaceuticals (NASDAQ:CRVS - Get Free Report) last posted its quarterly earnings data on Tuesday, March 19th. The company reported ($0.14) earnings per share for the quarter, meeting the consensus estimate of ($0.14). On average, analysts forecast that Corvus Pharmaceuticals will post -0.47 earnings per share for the current fiscal year.

Insider Transactions at Corvus Pharmaceuticals

In related news, CEO Richard A. Md Miller bought 577,634 shares of Corvus Pharmaceuticals stock in a transaction on Monday, May 6th. The shares were purchased at an average price of $1.73 per share, for a total transaction of $999,306.82. Following the completion of the acquisition, the chief executive officer now owns 577,634 shares in the company, valued at $999,306.82. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CEO Richard A. Md Miller purchased 577,634 shares of Corvus Pharmaceuticals stock in a transaction dated Monday, May 6th. The shares were bought at an average cost of $1.73 per share, with a total value of $999,306.82. Following the completion of the transaction, the chief executive officer now directly owns 577,634 shares in the company, valued at approximately $999,306.82. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider William Benton Jones acquired 20,000 shares of the company's stock in a transaction that occurred on Monday, May 6th. The shares were acquired at an average cost of $1.73 per share, for a total transaction of $34,600.00. Following the purchase, the insider now directly owns 153,773 shares in the company, valued at approximately $266,027.29. The disclosure for this purchase can be found here. 31.30% of the stock is owned by corporate insiders.

Institutional Trading of Corvus Pharmaceuticals

A hedge fund recently raised its stake in Corvus Pharmaceuticals stock. Towerview LLC increased its stake in Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS - Free Report) by 27.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 436,873 shares of the company's stock after purchasing an additional 94,395 shares during the period. Corvus Pharmaceuticals makes up 0.5% of Towerview LLC's holdings, making the stock its 17th largest position. Towerview LLC owned approximately 0.89% of Corvus Pharmaceuticals worth $769,000 as of its most recent filing with the Securities and Exchange Commission. 46.64% of the stock is owned by institutional investors.

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.