Corvus Pharmaceuticals (NASDAQ:CRVS) Issues Earnings Results

Corvus Pharmaceuticals (NASDAQ:CRVS) released its earnings results on Tuesday. The company reported ($0.12) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.02, Zacks reports.

Corvus Pharmaceuticals Trading Up 1.7%

NASDAQ CRVS traded up $0.13 during trading hours on Thursday, hitting $7.66. 382,125 shares of the company’s stock traded hands, compared to its average volume of 822,491. The business’s fifty day moving average price is $6.76 and its two-hundred day moving average price is $5.05. The firm has a market capitalization of $570.63 million, a P/E ratio of -14.32 and a beta of 0.56. Corvus Pharmaceuticals has a 52 week low of $2.54 and a 52 week high of $10.00.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on CRVS shares. Wall Street Zen lowered shares of Corvus Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday, October 18th. Mizuho set a $13.00 target price on shares of Corvus Pharmaceuticals in a report on Wednesday, October 29th. Barclays initiated coverage on shares of Corvus Pharmaceuticals in a report on Monday, October 13th. They set an “overweight” rating and a $16.00 target price on the stock. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Corvus Pharmaceuticals in a research report on Wednesday, October 8th. Four investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Corvus Pharmaceuticals presently has an average rating of “Moderate Buy” and an average price target of $14.25.

Hedge Funds Weigh In On Corvus Pharmaceuticals

Several hedge funds have recently modified their holdings of CRVS. Sender Co & Partners Inc. purchased a new stake in Corvus Pharmaceuticals during the second quarter valued at $52,000. Raymond James Financial Inc. raised its position in shares of Corvus Pharmaceuticals by 15.1% in the 2nd quarter. Raymond James Financial Inc. now owns 124,496 shares of the company’s stock valued at $498,000 after purchasing an additional 16,379 shares during the last quarter. Bayesian Capital Management LP purchased a new position in Corvus Pharmaceuticals during the 2nd quarter worth approximately $70,000. The Manufacturers Life Insurance Company purchased a new position in shares of Corvus Pharmaceuticals during the 2nd quarter valued at approximately $76,000. Finally, New York State Common Retirement Fund acquired a new stake in Corvus Pharmaceuticals in the 2nd quarter valued at $95,000. Hedge funds and other institutional investors own 46.64% of the company’s stock.

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.