Corvus Pharmaceuticals (NASDAQ:CRVS) Releases Earnings Results, Beats Expectations By $0.02 EPS

Corvus Pharmaceuticals (NASDAQ:CRVS) issued its earnings results on Tuesday. The company reported ($0.12) EPS for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.02, Zacks reports.

Corvus Pharmaceuticals Stock Down 0.5%

Shares of NASDAQ CRVS traded down $0.04 during midday trading on Tuesday, hitting $7.64. The stock had a trading volume of 1,206,615 shares, compared to its average volume of 821,420. The company has a market capitalization of $569.26 million, a PE ratio of -7.56 and a beta of 0.56. The stock has a 50 day simple moving average of $6.72 and a 200-day simple moving average of $5.03. Corvus Pharmaceuticals has a 1 year low of $2.54 and a 1 year high of $10.00.

Analyst Ratings Changes

A number of brokerages have recently commented on CRVS. Barclays assumed coverage on Corvus Pharmaceuticals in a research note on Monday, October 13th. They issued an “overweight” rating and a $16.00 target price on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Corvus Pharmaceuticals in a research report on Wednesday, October 8th. Mizuho set a $13.00 price target on Corvus Pharmaceuticals in a research report on Wednesday, October 29th. Finally, Wall Street Zen downgraded Corvus Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, October 18th. Four research 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 currently has a consensus rating of “Moderate Buy” and an average target price of $14.25.

Hedge Funds Weigh In On Corvus Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of CRVS. Sender Co & Partners Inc. purchased a new position in shares of Corvus Pharmaceuticals in the second quarter worth about $52,000. Bayesian Capital Management LP purchased a new position in shares of Corvus Pharmaceuticals in the second quarter worth about $70,000. The Manufacturers Life Insurance Company purchased a new position in shares of Corvus Pharmaceuticals in the second quarter worth about $76,000. New York State Common Retirement Fund purchased a new position in shares of Corvus Pharmaceuticals in the second quarter worth about $95,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Corvus Pharmaceuticals during the second quarter worth approximately $115,000. 46.64% of the stock is owned by hedge funds and other institutional investors.

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.