Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) have been assigned a consensus rating of “Buy” from the five research firms that are presently covering the stock, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $12.38.

Separately, HC Wainwright restated a “buy” rating and set a $11.00 price objective on shares of Corvus Pharmaceuticals in a report on Tuesday, January 14th.

Hedge Funds Weigh In On Corvus Pharmaceuticals

Hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC raised its stake in Corvus Pharmaceuticals by 22.4% during the third quarter. Geode Capital Management LLC now owns 563,009 shares of the company’s stock valued at $2,974,000 after buying an additional 102,869 shares in the last quarter. Jane Street Group LLC bought a new stake in shares of Corvus Pharmaceuticals in the 3rd quarter valued at approximately $265,000. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Corvus Pharmaceuticals by 64.7% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 137,031 shares of the company’s stock valued at $724,000 after acquiring an additional 53,809 shares in the last quarter. State Street Corp lifted its stake in Corvus Pharmaceuticals by 48.2% during the third quarter. State Street Corp now owns 178,246 shares of the company’s stock worth $941,000 after purchasing an additional 57,943 shares during the last quarter. Finally, XTX Topco Ltd acquired a new position in Corvus Pharmaceuticals in the third quarter worth $74,000. 46.64% of the stock is currently owned by institutional investors and hedge funds.

Corvus Pharmaceuticals Stock Performance

Shares of NASDAQ CRVS opened at $4.72 on Tuesday. Corvus Pharmaceuticals has a 1 year low of $1.30 and a 1 year high of $10.00. The stock’s 50-day simple moving average is $4.84 and its 200-day simple moving average is $6.09. The firm has a market cap of $303.29 million, a price-to-earnings ratio of -5.08 and a beta of 0.91.

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.