Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) Receives $12.38 Average Target Price from Analysts

Shares of Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) have earned an average recommendation of “Buy” from the five ratings firms that are covering the stock, MarketBeat Ratings reports. Four research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $12.38.

A number of equities research analysts have weighed in on CRVS shares. Oppenheimer boosted their price objective on Corvus Pharmaceuticals from $8.00 to $14.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. HC Wainwright reiterated a “buy” rating and issued a $11.00 price objective on shares of Corvus Pharmaceuticals in a research note on Tuesday, January 14th. StockNews.com cut Corvus Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Thursday, October 31st. Finally, Mizuho upgraded Corvus Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 22nd.

Hedge Funds Weigh In On Corvus Pharmaceuticals

Several large investors have recently added to or reduced their stakes in CRVS. Marshall Wace LLP acquired a new position in shares of Corvus Pharmaceuticals in the 2nd quarter valued at $136,000. Cubist Systematic Strategies LLC purchased a new stake in Corvus Pharmaceuticals during the second quarter valued at about $44,000. Point72 Asset Management L.P. acquired a new stake in Corvus Pharmaceuticals during the second quarter worth about $10,855,000. Avity Investment Management Inc. raised its holdings in shares of Corvus Pharmaceuticals by 138.2% in the 3rd quarter. Avity Investment Management Inc. now owns 27,580 shares of the company’s stock worth $146,000 after purchasing an additional 16,000 shares during the period. Finally, Oppenheimer & Co. Inc. acquired a new position in shares of Corvus Pharmaceuticals in the 3rd quarter valued at about $89,000. 46.64% of the stock is currently owned by hedge funds and other institutional investors.

Corvus Pharmaceuticals Price Performance

Shares of CRVS opened at $5.08 on Monday. The firm has a fifty day moving average price of $6.40 and a 200 day moving average price of $5.74. The stock has a market cap of $326.44 million, a PE ratio of -5.46 and a beta of 1.07. Corvus Pharmaceuticals has a 1-year low of $1.30 and a 1-year high of $10.00.

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.