Brokerages Set Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) PT at $12.83

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

A number of analysts have commented on the stock. LADENBURG THALM/SH SH lifted their target price on shares of Corvus Pharmaceuticals from $12.00 to $21.00 and gave the stock a “buy” rating in a report on Monday, September 16th. Oppenheimer lifted their target price on shares of Corvus Pharmaceuticals from $8.00 to $14.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Mizuho raised shares of Corvus Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 22nd. StockNews.com lowered shares of Corvus Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Thursday, October 31st. Finally, HC Wainwright assumed coverage on shares of Corvus Pharmaceuticals in a report on Thursday, January 2nd. They set a “buy” rating and a $11.00 target price for the company.

Corvus Pharmaceuticals Stock Performance

CRVS opened at $6.03 on Thursday. The company has a fifty day moving average price of $7.62 and a two-hundred day moving average price of $5.36. Corvus Pharmaceuticals has a 52 week low of $1.30 and a 52 week high of $10.00. The firm has a market capitalization of $387.47 million, a PE ratio of -6.48 and a beta of 1.07.

Hedge Funds Weigh In On Corvus Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in CRVS. Samlyn Capital LLC lifted its position in 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 acquiring an additional 3,774,658 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in Corvus Pharmaceuticals in the 2nd quarter valued at $10,855,000. Connor Clark & Lunn Investment Management Ltd. lifted its position in Corvus Pharmaceuticals by 64.7% in 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 position in Corvus Pharmaceuticals by 48.2% in the 3rd quarter. State Street Corp now owns 178,246 shares of the company’s stock valued at $941,000 after acquiring an additional 57,943 shares in the last quarter. Finally, XTX Topco Ltd bought a new stake in Corvus Pharmaceuticals in the 3rd quarter valued at $74,000. Institutional investors and hedge funds 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.