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

Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) shares reached a new 52-week high on Friday . The company traded as high as $9.38 and last traded at $9.1220, with a volume of 440382 shares trading hands. The stock had previously closed at $8.81.

Wall Street Analyst Weigh In

CRVS has been the subject of a number of analyst reports. Barclays initiated coverage on Corvus Pharmaceuticals in a research note on Monday, October 13th. They issued an “overweight” rating and a $16.00 price target for the company. Mizuho set a $13.00 price objective on Corvus Pharmaceuticals in a research note on Wednesday, October 29th. Weiss Ratings reissued a “sell (d-)” rating on shares of Corvus Pharmaceuticals in a research note on Wednesday, October 8th. Finally, Wall Street Zen raised Corvus Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Four investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, Corvus Pharmaceuticals has an average rating of “Moderate Buy” and a consensus target price of $14.25.

Corvus Pharmaceuticals Price Performance

The firm has a market capitalization of $680.56 million, a PE ratio of -17.09 and a beta of 0.64. The business has a 50-day simple moving average of $7.84 and a 200-day simple moving average of $5.76.

Corvus Pharmaceuticals (NASDAQ:CRVS) last released its earnings results on Tuesday, November 4th. The company reported ($0.12) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.02. On average, research analysts expect that Corvus Pharmaceuticals, Inc. will post -0.63 earnings per share for the current year.

Institutional Investors Weigh In On Corvus Pharmaceuticals

Several institutional investors have recently bought and sold shares of CRVS. Quarry LP acquired a new position in Corvus Pharmaceuticals during the 3rd quarter valued at about $27,000. Jain Global LLC purchased a new stake in shares of Corvus Pharmaceuticals during the third quarter worth about $204,000. Brevan Howard Capital Management LP acquired a new position in shares of Corvus Pharmaceuticals during the third quarter valued at about $113,000. Bank of America Corp DE boosted its stake in Corvus Pharmaceuticals by 14.5% in the 3rd quarter. Bank of America Corp DE now owns 151,966 shares of the company’s stock worth $1,120,000 after purchasing an additional 19,237 shares in the last quarter. Finally, Creative Planning purchased a new stake in Corvus Pharmaceuticals during the 3rd quarter worth approximately $186,000. 46.64% of the stock is currently owned by institutional investors and hedge funds.

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.