Corvus Pharmaceuticals’ (CRVS) Buy Rating Reaffirmed at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Corvus Pharmaceuticals (NASDAQ:CRVS) in a research note released on Wednesday,Benzinga reports. They currently have a $11.00 price objective on the stock.

Corvus Pharmaceuticals Stock Down 14.8 %

Corvus Pharmaceuticals stock opened at $3.35 on Wednesday. The stock has a market cap of $215.26 million, a PE ratio of -3.60 and a beta of 0.91. The business’s 50-day moving average price is $4.67 and its two-hundred day moving average price is $6.08. Corvus Pharmaceuticals has a 12-month low of $1.30 and a 12-month high of $10.00.

Corvus Pharmaceuticals (NASDAQ:CRVS) last issued its quarterly earnings data on Tuesday, March 25th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.06). As a group, analysts expect that Corvus Pharmaceuticals will post -0.63 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. RTW Investments LP bought a new position in shares of Corvus Pharmaceuticals during the 4th quarter worth $14,335,000. Foresite Capital Management VI LLC purchased a new stake in shares of Corvus Pharmaceuticals in the fourth quarter worth $8,460,000. Deerfield Management Company L.P. Series C bought a new stake in shares of Corvus Pharmaceuticals during the 4th quarter valued at about $5,350,000. Vivo Capital LLC lifted its position in Corvus Pharmaceuticals by 49.2% during the fourth quarter. Vivo Capital LLC now owns 2,234,566 shares of the company’s stock valued at $11,955,000 after purchasing an additional 737,298 shares during the last quarter. Finally, Sphera Funds Management LTD. purchased a new position in Corvus Pharmaceuticals in the fourth quarter worth $2,678,000. 46.64% of the stock is currently owned by hedge funds and other institutional investors.

Corvus Pharmaceuticals Company Profile

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.