Corvus Pharmaceuticals (NASDAQ:CRVS) Trading Up 3.4% – Time to Buy?

Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) shares were up 3.4% on Tuesday . The company traded as high as $8.45 and last traded at $8.43. Approximately 14,609 shares changed hands during mid-day trading, a decline of 96% from the average daily volume of 387,778 shares. The stock had previously closed at $8.15.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on CRVS shares. Oppenheimer boosted their target price on shares of Corvus Pharmaceuticals from $8.00 to $14.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Mizuho upgraded shares of Corvus Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 22nd. StockNews.com cut shares of Corvus Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Thursday, October 31st. Finally, LADENBURG THALM/SH SH boosted their price target on shares of Corvus Pharmaceuticals from $12.00 to $21.00 and gave the company a “buy” rating in a research report on Monday, September 16th. One investment analyst has rated the stock with a sell rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Corvus Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus price target of $12.83.

Corvus Pharmaceuticals Stock Down 1.1 %

The firm’s 50-day moving average price is $7.92 and its 200-day moving average price is $4.82. The company has a market cap of $517.94 million, a P/E ratio of -8.76 and a beta of 1.05.

Institutional Trading of Corvus Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of CRVS. Vanguard Group Inc. increased 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 acquiring an additional 142,724 shares during the period. Towerview LLC increased its holdings in Corvus Pharmaceuticals by 4.6% during the 2nd quarter. Towerview LLC now owns 400,000 shares of the company’s stock worth $728,000 after acquiring an additional 17,500 shares during the period. Samlyn Capital LLC increased its holdings in Corvus Pharmaceuticals by 160.7% during the 2nd quarter. Samlyn Capital LLC now owns 6,123,021 shares of the company’s stock worth $11,144,000 after acquiring an additional 3,774,658 shares during the period. Marshall Wace LLP bought a new stake in Corvus Pharmaceuticals during the 2nd quarter worth approximately $136,000. Finally, Cubist Systematic Strategies LLC bought a new stake in Corvus Pharmaceuticals during the 2nd quarter worth approximately $44,000. Institutional investors 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.