Corvus Pharmaceuticals (NASDAQ:CRVS) Sees Strong Trading Volume – Should You Buy?

Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) shares saw an uptick in trading volume on Monday . 367,985 shares changed hands during trading, an increase of 11% from the previous session’s volume of 332,056 shares.The stock last traded at $8.25 and had previously closed at $9.10.

Analyst Upgrades and Downgrades

A number of equities 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 research note on Monday, September 16th. Mizuho upgraded Corvus Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 22nd. Finally, StockNews.com lowered shares of Corvus Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Thursday, October 31st. One analyst has rated the stock with a sell rating, three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $10.83.

Corvus Pharmaceuticals Stock Performance

The company has a market capitalization of $580.47 million, a price-to-earnings ratio of -20.51 and a beta of 1.05. The firm’s 50 day simple moving average is $6.08 and its 200-day simple moving average is $3.67.

Corvus Pharmaceuticals (NASDAQ:CRVS) last posted its quarterly earnings results on Tuesday, August 6th. The company reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.12) by $0.05. During the same quarter last year, the firm earned ($0.14) EPS. As a group, 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

Institutional investors have recently modified their holdings of the stock. Samlyn Capital LLC raised its holdings 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 acquiring an additional 3,774,658 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in shares of Corvus Pharmaceuticals in the 2nd quarter valued at approximately $10,855,000. Vanguard Group Inc. increased its holdings in Corvus Pharmaceuticals by 10.6% in the first quarter. Vanguard Group Inc. now owns 1,493,357 shares of the company’s stock worth $2,658,000 after buying an additional 142,724 shares during the last quarter. Towerview LLC raised its position in Corvus Pharmaceuticals by 4.6% during the second quarter. Towerview LLC now owns 400,000 shares of the company’s stock valued at $728,000 after acquiring an additional 17,500 shares in the last quarter. Finally, Marshall Wace LLP acquired a new stake in Corvus Pharmaceuticals in the second quarter valued at approximately $136,000. Institutional investors and hedge funds 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.