Corvus Pharmaceuticals (NASDAQ:CRVS) Reaches New 12-Month High – What’s Next?

Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS)’s stock price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $8.80 and last traded at $8.68, with a volume of 62307 shares traded. The stock had previously closed at $8.31.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on CRVS shares. StockNews.com upgraded Corvus Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Wednesday, October 23rd. 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 report on Monday, September 16th. Finally, Mizuho raised shares of Corvus Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 22nd. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Corvus Pharmaceuticals currently has a consensus rating of “Buy” and a consensus price target of $10.83.

Corvus Pharmaceuticals Stock Up 2.9 %

The business has a 50 day moving average price of $5.50 and a 200 day moving average price of $3.35. The stock has a market cap of $556.08 million, a P/E ratio of -17.10 and a beta of 1.14.

Corvus Pharmaceuticals (NASDAQ:CRVS) last announced its quarterly earnings data on Tuesday, August 6th. The company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.12) by $0.05. During the same period in the prior year, the company posted ($0.14) earnings per share. On average, research analysts expect that Corvus Pharmaceuticals, Inc. will post -0.45 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Corvus Pharmaceuticals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CRVS. Cubist Systematic Strategies LLC purchased a new position in shares of Corvus Pharmaceuticals during the second quarter worth approximately $44,000. Marshall Wace LLP bought a new position in Corvus Pharmaceuticals in the second quarter worth approximately $136,000. Avity Investment Management Inc. increased its holdings in Corvus Pharmaceuticals by 138.2% during the 3rd 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 period. Towerview LLC raised its position in Corvus Pharmaceuticals by 4.6% during the 2nd quarter. Towerview LLC now owns 400,000 shares of the company’s stock valued at $728,000 after purchasing an additional 17,500 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Corvus Pharmaceuticals by 10.6% in the 1st 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 period. 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.