Corvus Pharmaceuticals (NASDAQ:CRVS) Rating Increased to Strong-Buy at Mizuho

Corvus Pharmaceuticals (NASDAQ:CRVS) was upgraded by research analysts at Mizuho from a “hold” rating to a “strong-buy” rating in a report released on Tuesday, Zacks.com reports.

A number of other analysts also recently weighed in on the stock. LADENBURG THALM/SH SH upped their target price on shares of Corvus Pharmaceuticals from $12.00 to $21.00 and gave the stock a “buy” rating in a research report on Monday, September 16th. StockNews.com upgraded shares of Corvus Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Wednesday. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $10.83.

Corvus Pharmaceuticals Stock Performance

Shares of Corvus Pharmaceuticals stock opened at $7.56 on Tuesday. Corvus Pharmaceuticals has a 52-week low of $1.05 and a 52-week high of $8.33. The company has a fifty day moving average of $5.25 and a 200-day moving average of $3.20. The stock has a market capitalization of $472.89 million, a price-to-earnings ratio of -14.54 and a beta of 1.14.

Corvus Pharmaceuticals (NASDAQ:CRVS) last posted its earnings results on Tuesday, August 6th. The company reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.05. During the same period in the previous year, the company posted ($0.14) EPS. On average, equities research analysts forecast that Corvus Pharmaceuticals will post -0.45 earnings per share for the current fiscal year.

Institutional Trading of Corvus Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the company. Avity Investment Management Inc. increased its position in shares of Corvus Pharmaceuticals by 138.2% during the third quarter. Avity Investment Management Inc. now owns 27,580 shares of the company’s stock valued at $146,000 after acquiring an additional 16,000 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new stake in Corvus Pharmaceuticals during the 2nd quarter valued at $44,000. Point72 Asset Management L.P. bought a new stake in shares of Corvus Pharmaceuticals in the 2nd quarter worth $10,855,000. Marshall Wace LLP purchased a new position in shares of Corvus Pharmaceuticals in the second quarter worth $136,000. Finally, Samlyn Capital LLC lifted its holdings 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 valued at $11,144,000 after purchasing an additional 3,774,658 shares in 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.