Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) Receives $12.38 Average PT from Brokerages

Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) has received an average recommendation of “Buy” from the five research firms that are presently covering the stock, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $12.38.

Several research analysts recently weighed in on the stock. Mizuho raised shares of Corvus Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 22nd. StockNews.com cut Corvus Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Thursday, October 31st. Oppenheimer increased their price target on Corvus Pharmaceuticals from $8.00 to $14.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $11.00 price target on shares of Corvus Pharmaceuticals in a research note on Tuesday, January 14th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CRVS. Three Bridge Wealth Advisors LLC acquired a new stake in Corvus Pharmaceuticals in the 4th quarter valued at approximately $120,000. China Universal Asset Management Co. Ltd. acquired a new stake in shares of Corvus Pharmaceuticals during the 4th quarter worth about $73,000. Masso Torrence Wealth Management Inc. lifted its position in shares of Corvus Pharmaceuticals by 200.0% during the 4th quarter. Masso Torrence Wealth Management Inc. now owns 30,000 shares of the company’s stock worth $160,000 after buying an additional 20,000 shares during the last quarter. Avity Investment Management Inc. boosted its stake in Corvus Pharmaceuticals by 7.6% in the fourth quarter. Avity Investment Management Inc. now owns 29,680 shares of the company’s stock valued at $159,000 after acquiring an additional 2,100 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in shares of Corvus Pharmaceuticals by 441.5% during the third quarter. JPMorgan Chase & Co. now owns 49,556 shares of the company’s stock worth $262,000 after acquiring an additional 40,404 shares during the last quarter. Hedge funds and other institutional investors own 46.64% of the company’s stock.

Corvus Pharmaceuticals Trading Up 1.3 %

Shares of CRVS stock opened at $5.36 on Monday. Corvus Pharmaceuticals has a 12 month low of $1.30 and a 12 month high of $10.00. The stock has a market cap of $344.42 million, a P/E ratio of -5.76 and a beta of 1.07. The company has a 50 day simple moving average of $6.26 and a two-hundred day simple moving average of $5.81.

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.