Cantor Fitzgerald Analysts Lower Earnings Estimates for CRVS

Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) – Stock analysts at Cantor Fitzgerald lowered their FY2024 EPS estimates for Corvus Pharmaceuticals in a research report issued on Wednesday, November 13th. Cantor Fitzgerald analyst L. Watsek now expects that the company will earn ($0.91) per share for the year, down from their previous estimate of ($0.50). The consensus estimate for Corvus Pharmaceuticals’ current full-year earnings is ($0.68) per share.

Other equities research analysts also recently issued reports about the stock. Oppenheimer raised their target price on shares of Corvus Pharmaceuticals from $8.00 to $14.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. StockNews.com cut Corvus Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Thursday, October 31st. Mizuho upgraded Corvus Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 22nd. Finally, LADENBURG THALM/SH SH increased their price target on Corvus Pharmaceuticals from $12.00 to $21.00 and gave the company a “buy” rating in a research note on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $12.83.

Corvus Pharmaceuticals Stock Down 3.9 %

Shares of Corvus Pharmaceuticals stock opened at $8.19 on Monday. The company has a market cap of $526.26 million, a P/E ratio of -8.81 and a beta of 1.05. The firm’s 50 day moving average price is $6.83 and its 200-day moving average price is $4.06. Corvus Pharmaceuticals has a 52-week low of $1.30 and a 52-week high of $10.00.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Nwam LLC acquired a new position in shares of Corvus Pharmaceuticals in the 3rd quarter valued at $53,000. XTX Topco Ltd acquired a new position in shares of Corvus Pharmaceuticals in the third quarter valued at about $74,000. Avity Investment Management Inc. raised its stake in shares of Corvus Pharmaceuticals by 138.2% in the third quarter. Avity Investment Management Inc. now owns 27,580 shares of the company’s stock worth $146,000 after purchasing an additional 16,000 shares during the last quarter. Oppenheimer & Co. Inc. acquired a new stake in shares of Corvus Pharmaceuticals during the third quarter worth about $89,000. Finally, Towerview LLC boosted its position in Corvus Pharmaceuticals by 4.6% in the second quarter. Towerview LLC now owns 400,000 shares of the company’s stock valued at $728,000 after buying an additional 17,500 shares during the last quarter. 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.