Corvus Pharmaceuticals (NASDAQ:CRVS) Sets New 12-Month High – Time to Buy?

Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) shares reached a new 52-week high on Monday . The stock traded as high as $9.90 and last traded at $9.66, with a volume of 57443 shares changing hands. The stock had previously closed at $9.45.

Analyst Ratings Changes

Several brokerages recently issued reports on CRVS. Mizuho upgraded shares of Corvus Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 22nd. StockNews.com downgraded Corvus Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Thursday, October 31st. Finally, LADENBURG THALM/SH SH upped their price objective on Corvus Pharmaceuticals from $12.00 to $21.00 and gave the company a “buy” rating in a research report on Monday, September 16th. One research analyst has rated the stock with a sell rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $10.83.

Corvus Pharmaceuticals Stock Down 9.1 %

The firm has a market capitalization of $543.57 million, a PE ratio of -19.31 and a beta of 1.05. The stock’s fifty day simple moving average is $6.47 and its 200 day simple moving average is $3.88.

Institutional Investors Weigh In On Corvus Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of CRVS. Point72 Asset Management L.P. bought a new stake in Corvus Pharmaceuticals during the second quarter valued at about $10,855,000. Samlyn Capital LLC grew its stake in shares of Corvus Pharmaceuticals by 160.7% during 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 during the period. Vanguard Group Inc. increased its holdings in Corvus Pharmaceuticals by 10.6% in the 1st quarter. Vanguard Group Inc. now owns 1,493,357 shares of the company’s stock worth $2,658,000 after acquiring an additional 142,724 shares in the last quarter. Marshall Wace LLP bought a new stake in Corvus Pharmaceuticals during the 2nd quarter worth approximately $136,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Corvus Pharmaceuticals by 64.7% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 137,031 shares of the company’s stock valued at $724,000 after purchasing an additional 53,809 shares in the last quarter. 46.64% of the stock is currently owned by hedge funds and other institutional investors.

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.