Corvus Pharmaceuticals (NASDAQ:CRVS) Trading 5.1% Higher – Should You Buy?

Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS)’s stock price traded up 5.1% during mid-day trading on Friday . The company traded as high as $14.91 and last traded at $14.9910. Approximately 120,438 shares traded hands during mid-day trading, a decline of 95% from the average session volume of 2,365,483 shares. The stock had previously closed at $14.27.

Analyst Upgrades and Downgrades

Several brokerages recently commented on CRVS. Weiss Ratings cut Corvus Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, July 10th. The Goldman Sachs Group began coverage on Corvus Pharmaceuticals in a research report on Friday, April 17th. They set a “buy” rating and a $40.00 price target on the stock. Finally, Wall Street Zen cut Corvus Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Six analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Corvus Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.33.

Corvus Pharmaceuticals Trading Up 4.8%

The firm’s 50 day moving average price is $13.31 and its two-hundred day moving average price is $14.66. The company has a market capitalization of $1.26 billion, a price-to-earnings ratio of -28.76 and a beta of 0.82.

Corvus Pharmaceuticals (NASDAQ:CRVS) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.01). As a group, equities research analysts predict that Corvus Pharmaceuticals, Inc. will post -0.7 EPS for the current year.

Insider Activity at Corvus Pharmaceuticals

In other Corvus Pharmaceuticals news, Director David Scott Moore bought 21,700 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The shares were acquired at an average cost of $11.53 per share, with a total value of $250,201.00. Following the acquisition, the director owned 21,700 shares of the company’s stock, valued at $250,201. The trade was a ? increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 19.70% of the company’s stock.

Institutional Investors Weigh In On Corvus Pharmaceuticals

Hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC increased its holdings in shares of Corvus Pharmaceuticals by 130.7% in the second quarter. Geode Capital Management LLC now owns 1,361,740 shares of the company’s stock valued at $5,448,000 after purchasing an additional 771,454 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Corvus Pharmaceuticals by 541.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 30,420 shares of the company’s stock worth $122,000 after buying an additional 25,681 shares during the last quarter. Rhumbline Advisers raised its holdings in Corvus Pharmaceuticals by 9,501.8% in the 2nd quarter. Rhumbline Advisers now owns 75,950 shares of the company’s stock valued at $304,000 after acquiring an additional 75,159 shares during the period. Hsbc Holdings PLC acquired a new stake in Corvus Pharmaceuticals during the second quarter worth approximately $332,000. Finally, New York State Common Retirement Fund acquired a new stake in Corvus Pharmaceuticals during the second quarter worth approximately $95,000. Institutional investors and hedge funds own 46.64% of the company’s stock.

About Corvus Pharmaceuticals

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.