Corvus Pharmaceuticals (NASDAQ:CRVS) Hits New 52-Week High – Time to Buy?

Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS)’s stock price reached a new 52-week high on Tuesday . The stock traded as high as $9.44 and last traded at $9.39, with a volume of 211193 shares changing hands. The stock had previously closed at $9.02.

Analyst Ratings Changes

A number of equities analysts have issued reports on CRVS shares. LADENBURG THALM/SH SH raised their target price on Corvus Pharmaceuticals from $12.00 to $21.00 and gave the stock a “buy” rating in a report on Monday, September 16th. Mizuho upgraded shares of Corvus Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 22nd. Finally, StockNews.com lowered shares of Corvus Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $10.83.

Corvus Pharmaceuticals Stock Performance

The firm’s fifty day simple moving average is $6.17 and its 200 day simple moving average is $3.70.

Corvus Pharmaceuticals (NASDAQ:CRVS) last issued its quarterly earnings data on Tuesday, August 6th. The company reported ($0.07) EPS for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.05. During the same quarter last year, the business earned ($0.14) EPS. Equities analysts anticipate that Corvus Pharmaceuticals, Inc. will post -0.45 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Cubist Systematic Strategies LLC acquired a new position in Corvus Pharmaceuticals during the 2nd quarter worth approximately $44,000. Oppenheimer & Co. Inc. bought a new position in shares of Corvus Pharmaceuticals in the 3rd quarter valued at about $89,000. Marshall Wace LLP acquired a new position in Corvus Pharmaceuticals during the second quarter valued at approximately $136,000. Avity Investment Management Inc. increased its position in shares of Corvus Pharmaceuticals by 138.2% during the 3rd quarter. Avity Investment Management Inc. now owns 27,580 shares of the company’s stock worth $146,000 after purchasing an additional 16,000 shares during the last quarter. Finally, Towerview LLC boosted its holdings in shares of Corvus Pharmaceuticals by 4.6% in the 2nd quarter. Towerview LLC now owns 400,000 shares of the company’s stock valued at $728,000 after buying an additional 17,500 shares during the last quarter. 46.64% of the stock is currently owned by 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.