Corvus Pharmaceuticals (NASDAQ:CRVS) Stock Price Up 7.1% – What’s Next?

Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS)’s share price rose 7.1% during mid-day trading on Wednesday . The company traded as high as $6.93 and last traded at $6.9640. Approximately 268,691 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 1,469,968 shares. The stock had previously closed at $6.50.

Wall Street Analysts Forecast Growth

CRVS has been the topic of a number of analyst reports. Mizuho set a $13.00 target price on shares of Corvus Pharmaceuticals in a research report on Wednesday, October 29th. Wall Street Zen upgraded Corvus Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Barclays assumed coverage on Corvus Pharmaceuticals in a research note on Monday, October 13th. They issued an “overweight” rating and a $16.00 target price for the company. Cantor Fitzgerald restated an “overweight” rating on shares of Corvus Pharmaceuticals in a report on Thursday, December 11th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Corvus Pharmaceuticals in a research note on Wednesday, October 8th. Five research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $14.25.

Corvus Pharmaceuticals Stock Up 12.7%

The company has a 50 day moving average of $7.98 and a 200-day moving average of $6.55.

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

Institutional Trading of Corvus Pharmaceuticals

Several large investors have recently added to or reduced their stakes in CRVS. Tema Etfs LLC increased its position in Corvus Pharmaceuticals by 34.6% during the 4th quarter. Tema Etfs LLC now owns 79,698 shares of the company’s stock valued at $614,000 after purchasing an additional 20,496 shares during the period. SG Americas Securities LLC bought a new stake in shares of Corvus Pharmaceuticals during the 4th quarter valued at about $154,000. JPMorgan Chase & Co. increased its position in shares of Corvus Pharmaceuticals by 6.0% during the third quarter. JPMorgan Chase & Co. now owns 32,232 shares of the company’s stock valued at $238,000 after buying an additional 1,812 shares during the period. Quarry LP purchased a new position in shares of Corvus Pharmaceuticals during the third quarter valued at about $27,000. Finally, Jain Global LLC bought a new position in Corvus Pharmaceuticals in the third quarter worth about $204,000. Institutional investors own 46.64% of the company’s stock.

Corvus Pharmaceuticals Company Profile

Corvus Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of next-generation immuno-oncology therapies. The company’s research efforts are centered on harnessing both the innate and adaptive immune systems to counteract tumor-driven immunosuppression. By targeting key pathways that regulate immune cell function, Corvus aims to create novel agents that can be combined with existing cancer treatments to improve patient outcomes.

Corvus’s lead pipeline candidates include small-molecule and antibody therapies designed to inhibit the adenosine pathway, a known mediator of tumor immune escape.