Corvus Pharmaceuticals (NASDAQ:CRVS) Issues Earnings Results

Corvus Pharmaceuticals (NASDAQ:CRVS) posted its quarterly earnings data on Thursday. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.01), FiscalAI reports.

Corvus Pharmaceuticals Stock Up 6.6%

Shares of CRVS traded up $0.96 during midday trading on Friday, hitting $15.55. The company’s stock had a trading volume of 980,529 shares, compared to its average volume of 1,343,632. Corvus Pharmaceuticals has a one year low of $3.38 and a one year high of $26.95. The company’s fifty day simple moving average is $15.52 and its two-hundred day simple moving average is $12.83. The stock has a market capitalization of $1.31 billion, a price-to-earnings ratio of -29.90 and a beta of 0.94.

Hedge Funds Weigh In On Corvus Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of CRVS. Quarry LP acquired a new stake in shares of Corvus Pharmaceuticals during the 3rd quarter valued at $27,000. Russell Investments Group Ltd. acquired a new stake in shares of Corvus Pharmaceuticals during the 3rd quarter valued at $49,000. Truvestments Capital LLC boosted its holdings in shares of Corvus Pharmaceuticals by 86.1% during the 4th quarter. Truvestments Capital LLC now owns 10,257 shares of the company’s stock valued at $79,000 after acquiring an additional 4,744 shares in the last quarter. Captrust Financial Advisors acquired a new stake in shares of Corvus Pharmaceuticals during the 4th quarter valued at $85,000. Finally, Fox Run Management L.L.C. acquired a new stake in shares of Corvus Pharmaceuticals during the 4th quarter valued at $86,000. Institutional investors own 46.64% of the company’s stock.

Wall Street Analyst Weigh In

CRVS has been the topic of a number of recent research reports. HC Wainwright raised their price objective on Corvus Pharmaceuticals from $11.00 to $27.00 and gave the stock a “buy” rating in a research note on Tuesday, January 20th. Wall Street Zen lowered Corvus Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday. The Goldman Sachs Group initiated coverage on Corvus Pharmaceuticals in a research note on Friday, April 17th. They set a “buy” rating and a $40.00 price objective on the stock. Barclays raised their price objective on Corvus Pharmaceuticals from $16.00 to $28.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 20th. Finally, Weiss Ratings upgraded Corvus Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, April 29th. Seven investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $33.33.

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.