Corvus Pharmaceuticals (NASDAQ:CRVS) Stock Price Up 6% – What’s Next?

Shares of Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) rose 6% during mid-day trading on Friday . The stock traded as high as $8.19 and last traded at $8.14. Approximately 116,020 shares were traded during trading, a decline of 63% from the average daily volume of 311,085 shares. The stock had previously closed at $7.68.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Mizuho upgraded shares of Corvus Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 22nd. LADENBURG THALM/SH SH lifted 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. Finally, StockNews.com raised Corvus Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Wednesday. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $10.83.

Corvus Pharmaceuticals Price Performance

The stock’s 50-day moving average price is $5.41 and its 200 day moving average price is $3.29. The firm has a market cap of $519.80 million, a P/E ratio of -15.98 and a beta of 1.14.

Corvus Pharmaceuticals (NASDAQ:CRVS) last issued its quarterly earnings results on Tuesday, August 6th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.05. During the same quarter last year, the business earned ($0.14) earnings per share. As a group, analysts forecast that Corvus Pharmaceuticals, Inc. will post -0.45 EPS for the current fiscal year.

Institutional Trading of Corvus Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Cubist Systematic Strategies LLC bought a new position in Corvus Pharmaceuticals in the second quarter valued at approximately $44,000. Marshall Wace LLP acquired a new stake in shares of Corvus Pharmaceuticals in the 2nd quarter valued at approximately $136,000. Avity Investment Management Inc. boosted its holdings in shares of Corvus Pharmaceuticals by 138.2% in the 3rd quarter. Avity Investment Management Inc. now owns 27,580 shares of the company’s stock valued at $146,000 after buying an additional 16,000 shares during the last quarter. Towerview LLC grew its stake in shares of 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 in the last quarter. Finally, Vanguard Group Inc. increased its holdings in Corvus Pharmaceuticals by 10.6% during the first quarter. Vanguard Group Inc. now owns 1,493,357 shares of the company’s stock worth $2,658,000 after buying an additional 142,724 shares during the last quarter. Institutional investors own 46.64% of the company’s stock.

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.