Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) Receives $33.33 Consensus Target Price from Analysts

Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) has received an average rating of “Moderate Buy” from the seven ratings firms that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation and six have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $33.3333.

A number of analysts have recently issued reports on CRVS shares. Wall Street Zen cut Corvus Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Weiss Ratings cut Corvus Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, July 10th. Finally, The Goldman Sachs Group assumed coverage on shares of Corvus Pharmaceuticals in a research note on Friday, April 17th. They set a “buy” rating and a $40.00 price target on the stock.

Insider Activity at Corvus Pharmaceuticals

In other Corvus Pharmaceuticals 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 acquisition, the director owned 21,700 shares of the company’s stock, valued at approximately $250,201. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 19.70% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Corvus Pharmaceuticals by 26.0% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,629 shares of the company’s stock worth $28,000 after purchasing an additional 748 shares in the last quarter. ProShare Advisors LLC lifted its position in shares of Corvus Pharmaceuticals by 7.7% during the fourth quarter. ProShare Advisors LLC now owns 13,764 shares of the company’s stock worth $106,000 after purchasing an additional 979 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Corvus Pharmaceuticals by 5.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 34,105 shares of the company’s stock valued at $263,000 after purchasing an additional 1,696 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Corvus Pharmaceuticals by 6.0% during the third quarter. JPMorgan Chase & Co. now owns 32,232 shares of the company’s stock valued at $238,000 after purchasing an additional 1,812 shares during the last quarter. Finally, Shelton Wealth Management LLC increased its holdings in shares of Corvus Pharmaceuticals by 13.8% in the fourth quarter. Shelton Wealth Management LLC now owns 15,638 shares of the company’s stock valued at $120,000 after purchasing an additional 1,896 shares in the last quarter. Institutional investors and hedge funds own 46.64% of the company’s stock.

Corvus Pharmaceuticals Price Performance

CRVS stock opened at $14.90 on Wednesday. Corvus Pharmaceuticals has a twelve month low of $3.96 and a twelve month high of $26.95. The company has a market cap of $1.25 billion, a PE ratio of -28.65 and a beta of 0.82. The business’s 50-day simple moving average is $13.30 and its 200 day simple moving average is $14.71.

Corvus Pharmaceuticals (NASDAQ:CRVS) last issued its quarterly earnings results 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). On average, equities research analysts anticipate that Corvus Pharmaceuticals will post -0.7 EPS for the current year.

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.