Corvus Pharmaceuticals (NASDAQ:CRVS) Sets New 1-Year High – Should You Buy?

Shares of Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) reached a new 52-week high on Tuesday . The company traded as high as $8.15 and last traded at $8.03, with a volume of 393948 shares. The stock had previously closed at $7.56.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on CRVS shares. LADENBURG THALM/SH SH upped their target price on shares of Corvus Pharmaceuticals from $12.00 to $21.00 and gave the company a “buy” rating in a report on Monday, September 16th. StockNews.com upgraded shares of Corvus Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Wednesday. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $10.83.

Corvus Pharmaceuticals Stock Down 2.5 %

The firm has a market capitalization of $472.89 million, a price-to-earnings ratio of -14.54 and a beta of 1.14. The company has a fifty day moving average price of $5.25 and a two-hundred day moving average price of $3.20.

Corvus Pharmaceuticals (NASDAQ:CRVS) last issued its quarterly earnings data on Tuesday, August 6th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.05. During the same quarter in the previous year, the company earned ($0.14) EPS. On average, equities analysts anticipate that Corvus Pharmaceuticals, Inc. will post -0.45 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Corvus Pharmaceuticals

Several large investors have recently modified their holdings of CRVS. Point72 Asset Management L.P. purchased a new stake in Corvus Pharmaceuticals in the 2nd quarter valued at approximately $10,855,000. Samlyn Capital LLC lifted its holdings in shares of Corvus Pharmaceuticals by 160.7% in the 2nd quarter. Samlyn Capital LLC now owns 6,123,021 shares of the company’s stock valued at $11,144,000 after buying an additional 3,774,658 shares during the period. Vanguard Group Inc. boosted its stake in shares of Corvus Pharmaceuticals by 10.6% in the first quarter. Vanguard Group Inc. now owns 1,493,357 shares of the company’s stock valued at $2,658,000 after buying an additional 142,724 shares in the last quarter. Marshall Wace LLP acquired a new position in Corvus Pharmaceuticals during the second quarter worth $136,000. Finally, Cubist Systematic Strategies LLC purchased a new position in Corvus Pharmaceuticals in the second quarter worth $44,000. Hedge funds and other institutional investors own 46.64% of the company’s stock.

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.