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

Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) shares reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $9.44 and last traded at $9.39, with a volume of 211193 shares changing hands. The stock had previously closed at $9.02.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on CRVS. Mizuho upgraded Corvus Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 22nd. LADENBURG THALM/SH SH increased their price objective on Corvus Pharmaceuticals from $12.00 to $21.00 and gave the stock a “buy” rating in a report on Monday, September 16th. Finally, StockNews.com lowered Corvus Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Corvus Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average target price of $10.83.

Corvus Pharmaceuticals Stock Up 0.2 %

The stock has a fifty day moving average price of $6.17 and a 200-day moving average price of $3.70.

Corvus Pharmaceuticals (NASDAQ:CRVS) last issued its quarterly earnings data on Tuesday, August 6th. The company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.12) by $0.05. During the same quarter in the prior year, the firm earned ($0.14) EPS. Research analysts predict that Corvus Pharmaceuticals, Inc. will post -0.45 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in CRVS. Samlyn Capital LLC lifted its position in shares of Corvus Pharmaceuticals by 160.7% during the second quarter. Samlyn Capital LLC now owns 6,123,021 shares of the company’s stock worth $11,144,000 after purchasing an additional 3,774,658 shares in the last quarter. Point72 Asset Management L.P. bought a new position in Corvus Pharmaceuticals in the 2nd quarter worth approximately $10,855,000. Vanguard Group Inc. lifted its holdings in Corvus Pharmaceuticals by 10.6% during 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 in the last quarter. Towerview LLC boosted its position in Corvus Pharmaceuticals by 4.6% in the 2nd 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. Finally, Marshall Wace LLP acquired a new stake in shares of Corvus Pharmaceuticals in the 2nd quarter valued at $136,000. Institutional investors and hedge funds 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.