Corvus Pharmaceuticals (NASDAQ:CRVS) Sets New 52-Week High – Should You Buy?

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

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CRVS. StockNews.com lowered shares of Corvus Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Friday, October 11th. LADENBURG THALM/SH SH raised their price objective on Corvus Pharmaceuticals from $12.00 to $21.00 and gave the stock a “buy” rating in a report on Monday, September 16th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $10.83.

Corvus Pharmaceuticals Trading Up 6.1 %

The business’s 50-day simple moving average is $5.09 and its 200 day simple moving average is $3.13. The firm has a market cap of $501.66 million, a PE ratio of -15.42 and a beta of 1.14.

Corvus Pharmaceuticals (NASDAQ:CRVS) last posted its earnings results on Tuesday, August 6th. The company reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.05. During the same period in the previous year, the business posted ($0.14) EPS. Analysts expect that Corvus Pharmaceuticals, Inc. will post -0.45 earnings per share for the current year.

Institutional Trading of Corvus Pharmaceuticals

Hedge funds have recently modified their holdings of the company. Samlyn Capital LLC increased its position in shares of Corvus Pharmaceuticals by 160.7% during the second quarter. Samlyn Capital LLC now owns 6,123,021 shares of the company’s stock worth $11,144,000 after purchasing an additional 3,774,658 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in Corvus Pharmaceuticals during the 2nd quarter valued at about $10,855,000. Vanguard Group Inc. raised its stake in 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 during the last quarter. Towerview LLC boosted its holdings in Corvus Pharmaceuticals by 4.6% in the second quarter. Towerview LLC now owns 400,000 shares of the company’s stock worth $728,000 after acquiring an additional 17,500 shares in the last quarter. Finally, Marshall Wace LLP purchased a new stake in shares of Corvus Pharmaceuticals during the second quarter worth about $136,000. 46.64% of the stock is owned by hedge funds and other institutional investors.

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.