HC Wainwright Reiterates Buy Rating for Corvus Pharmaceuticals (NASDAQ:CRVS)

Corvus Pharmaceuticals (NASDAQ:CRVS)‘s stock had its “buy” rating reaffirmed by equities research analysts at HC Wainwright in a research note issued on Tuesday,Benzinga reports. They currently have a $11.00 price target on the stock. HC Wainwright’s price target indicates a potential upside of 123.58% from the company’s current price.

CRVS has been the topic of a number of other research reports. Mizuho raised shares of Corvus Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 22nd. LADENBURG THALM/SH SH boosted their price target 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. Oppenheimer increased their price objective on shares of Corvus Pharmaceuticals from $8.00 to $14.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Finally, StockNews.com lowered Corvus Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $12.38.

Corvus Pharmaceuticals Stock Down 3.5 %

NASDAQ:CRVS opened at $4.92 on Tuesday. Corvus Pharmaceuticals has a 52 week low of $1.30 and a 52 week high of $10.00. The stock’s fifty day moving average is $7.12 and its two-hundred day moving average is $5.51. The company has a market capitalization of $316.16 million, a P/E ratio of -5.29 and a beta of 1.05.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in CRVS. Point72 Asset Management L.P. acquired a new stake in Corvus Pharmaceuticals during the 2nd quarter worth approximately $10,855,000. Samlyn Capital LLC increased its position 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 during the period. Geode Capital Management LLC increased its position in shares of Corvus Pharmaceuticals by 22.4% during the third quarter. Geode Capital Management LLC now owns 563,009 shares of the company’s stock worth $2,974,000 after acquiring an additional 102,869 shares during the period. Marshall Wace LLP acquired a new stake in shares of Corvus Pharmaceuticals in the second quarter valued at $136,000. Finally, State Street Corp boosted its holdings in Corvus Pharmaceuticals by 48.2% in the third quarter. State Street Corp now owns 178,246 shares of the company’s stock valued at $941,000 after purchasing an additional 57,943 shares during the period. 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.