Corvus Pharmaceuticals (NASDAQ:CRVS) Receives Buy Rating from HC Wainwright

Corvus Pharmaceuticals (NASDAQ:CRVS)‘s stock had its “buy” rating reiterated by analysts at HC Wainwright in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $11.00 price objective on the stock. HC Wainwright’s price objective suggests a potential upside of 179.90% from the company’s current price.

Corvus Pharmaceuticals Trading Down 7.5 %

CRVS opened at $3.93 on Wednesday. The stock has a market capitalization of $252.53 million, a P/E ratio of -4.23 and a beta of 0.91. Corvus Pharmaceuticals has a 12-month low of $1.30 and a 12-month high of $10.00. The stock has a 50-day moving average price of $4.70 and a 200-day moving average price of $6.09.

Corvus Pharmaceuticals (NASDAQ:CRVS) last issued its quarterly earnings results on Tuesday, March 25th. The company reported ($0.18) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.06). On average, equities research analysts predict that Corvus Pharmaceuticals will post -0.63 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. RTW Investments LP bought a new position in Corvus Pharmaceuticals during the 4th quarter worth approximately $14,335,000. Vivo Capital LLC increased its stake in shares of Corvus Pharmaceuticals by 49.2% in the fourth quarter. Vivo Capital LLC now owns 2,234,566 shares of the company’s stock worth $11,955,000 after buying an additional 737,298 shares during the period. Foresite Capital Management VI LLC bought a new stake in Corvus Pharmaceuticals during the 4th quarter valued at $8,460,000. Deerfield Management Company L.P. Series C purchased a new stake in Corvus Pharmaceuticals during the 4th quarter valued at $5,350,000. Finally, Geode Capital Management LLC grew its holdings in Corvus Pharmaceuticals by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 566,863 shares of the company’s stock worth $3,034,000 after acquiring an additional 3,854 shares during the last quarter. Hedge funds and other institutional investors own 46.64% of the company’s stock.

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.