Corvus Pharmaceuticals’ (CRVS) Buy Rating Reiterated at HC Wainwright

HC Wainwright reissued their buy rating on shares of Corvus Pharmaceuticals (NASDAQ:CRVS) in a research note released on Wednesday,Benzinga reports. HC Wainwright currently has a $11.00 price objective on the stock. HC Wainwright also issued estimates for Corvus Pharmaceuticals’ FY2025 earnings at ($0.43) EPS, FY2027 earnings at ($0.32) EPS, FY2028 earnings at $0.11 EPS and FY2029 earnings at $0.44 EPS.

Corvus Pharmaceuticals Price Performance

Corvus Pharmaceuticals stock opened at $3.38 on Wednesday. Corvus Pharmaceuticals has a one year low of $1.30 and a one year high of $10.00. The company’s fifty day moving average price is $4.61 and its two-hundred day moving average price is $6.05. The company has a market capitalization of $217.19 million, a price-to-earnings ratio of -3.63 and a beta of 0.91.

Corvus Pharmaceuticals (NASDAQ:CRVS) last released its quarterly earnings results on Tuesday, March 25th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.06). As a group, sell-side analysts anticipate that Corvus Pharmaceuticals will post -0.63 earnings per share for the current year.

Institutional Trading of Corvus Pharmaceuticals

A number of institutional investors and hedge funds have recently modified their holdings of CRVS. Avity Investment Management Inc. boosted its stake in Corvus Pharmaceuticals by 7.6% during the 4th quarter. Avity Investment Management Inc. now owns 29,680 shares of the company’s stock valued at $159,000 after purchasing an additional 2,100 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Corvus Pharmaceuticals by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 566,863 shares of the company’s stock worth $3,034,000 after buying an additional 3,854 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of Corvus Pharmaceuticals by 1.1% in the fourth quarter. Renaissance Technologies LLC now owns 390,688 shares of the company’s stock valued at $2,090,000 after acquiring an additional 4,100 shares during the period. Nwam LLC grew its stake in shares of Corvus Pharmaceuticals by 54.2% in the fourth quarter. Nwam LLC now owns 15,500 shares of the company’s stock worth $83,000 after acquiring an additional 5,450 shares during the last quarter. Finally, Virtus ETF Advisers LLC bought a new position in Corvus Pharmaceuticals during the fourth quarter worth $47,000. 46.64% of the stock is currently owned by institutional investors and hedge funds.

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.