Corvus Pharmaceuticals (NASDAQ:CRVS) Price Target Increased to $8.00 by Analysts at Oppenheimer

Corvus Pharmaceuticals (NASDAQ:CRVS) had its price target boosted by investment analysts at Oppenheimer from $7.00 to $8.00 in a report issued on Tuesday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Oppenheimer’s price target points to a potential upside of 308.16% from the stock’s current price.

Several other research firms also recently weighed in on CRVS. Mizuho reissued a “neutral” rating and set a $3.50 target price on shares of Corvus Pharmaceuticals in a research report on Wednesday, March 27th. Cantor Fitzgerald reissued an “overweight” rating on shares of Corvus Pharmaceuticals in a report on Monday, April 1st.

Corvus Pharmaceuticals Price Performance

Corvus Pharmaceuticals stock opened at $1.96 on Tuesday. Corvus Pharmaceuticals has a 1-year low of $1.05 and a 1-year high of $4.19. The business has a fifty day moving average price of $1.77 and a 200-day moving average price of $1.78. The stock has a market capitalization of $96.12 million, a price-to-earnings ratio of -3.77 and a beta of 1.05.

Corvus Pharmaceuticals (NASDAQ:CRVS) last issued its quarterly earnings results on Tuesday, March 19th. The company reported ($0.14) earnings per share for the quarter, hitting the consensus estimate of ($0.14). On average, equities research analysts anticipate that Corvus Pharmaceuticals will post -0.47 earnings per share for the current fiscal year.

Insider Activity at Corvus Pharmaceuticals

In related news, CEO Richard A. Md Miller acquired 577,634 shares of Corvus Pharmaceuticals stock in a transaction on Monday, May 6th. The stock was acquired at an average price of $1.73 per share, for a total transaction of $999,306.82. Following the purchase, the chief executive officer now owns 577,634 shares of the company’s stock, valued at approximately $999,306.82. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO Richard A. Md Miller purchased 577,634 shares of the firm’s stock in a transaction on Monday, May 6th. The stock was bought at an average cost of $1.73 per share, with a total value of $999,306.82. Following the completion of the acquisition, the chief executive officer now owns 577,634 shares of the company’s stock, valued at approximately $999,306.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider William Benton Jones acquired 20,000 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were purchased at an average cost of $1.73 per share, for a total transaction of $34,600.00. Following the purchase, the insider now directly owns 153,773 shares in the company, valued at $266,027.29. The disclosure for this purchase can be found here. 31.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Corvus Pharmaceuticals stock. Towerview LLC raised its stake in shares of Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) by 67.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 342,478 shares of the company’s stock after purchasing an additional 137,478 shares during the period. Corvus Pharmaceuticals accounts for 0.3% of Towerview LLC’s holdings, making the stock its 18th biggest position. Towerview LLC owned about 0.70% of Corvus Pharmaceuticals worth $500,000 as of its most recent filing with the Securities & Exchange Commission. 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.