Corvus Pharmaceuticals (NASDAQ:CRVS) Trading 8.5% Higher – Still a Buy?

Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS)’s share price was up 8.5% during trading on Thursday . The company traded as high as $8.97 and last traded at $8.94. Approximately 516,363 shares were traded during mid-day trading, an increase of 37% from the average daily volume of 375,641 shares. The stock had previously closed at $8.24.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Oppenheimer lifted their price target on Corvus Pharmaceuticals from $8.00 to $14.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. LADENBURG THALM/SH SH lifted their target price on Corvus Pharmaceuticals from $12.00 to $21.00 and gave the company a “buy” rating in a report on Monday, September 16th. StockNews.com downgraded shares of Corvus Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Thursday, October 31st. Finally, Mizuho raised shares of Corvus Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, three have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $12.83.

Corvus Pharmaceuticals Price Performance

The company has a 50 day moving average of $7.06 and a 200-day moving average of $4.20. The company has a market cap of $578.98 million, a P/E ratio of -9.67 and a beta of 1.05.

Institutional Investors Weigh In On Corvus Pharmaceuticals

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Cubist Systematic Strategies LLC bought a new position in shares of Corvus Pharmaceuticals in the 2nd quarter worth $44,000. Nwam LLC bought a new position in Corvus Pharmaceuticals in the third quarter valued at $53,000. XTX Topco Ltd purchased a new stake in Corvus Pharmaceuticals during the third quarter valued at about $74,000. Virtu Financial LLC bought a new stake in Corvus Pharmaceuticals during the third quarter worth about $83,000. Finally, Oppenheimer & Co. Inc. purchased a new position in shares of Corvus Pharmaceuticals in the 3rd quarter worth about $89,000. 46.64% of the stock is owned by hedge funds and other institutional investors.

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.