Oppenheimer Issues Positive Forecast for Corvus Pharmaceuticals (NASDAQ:CRVS) Stock Price

Corvus Pharmaceuticals (NASDAQ:CRVS) had its target price boosted by Oppenheimer from $8.00 to $14.00 in a research report sent to investors on Wednesday morning,Benzinga reports. The brokerage currently has an outperform rating on the stock.

A number of other analysts have also recently weighed in on the stock. LADENBURG THALM/SH SH boosted their price objective on shares of Corvus Pharmaceuticals from $12.00 to $21.00 and gave the stock a “buy” rating in a research note on Monday, September 16th. Mizuho raised shares of Corvus Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 22nd. Finally, StockNews.com cut shares of Corvus Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $12.83.

Corvus Pharmaceuticals Stock Down 9.2 %

Shares of NASDAQ:CRVS traded down $0.82 on Wednesday, reaching $8.05. The company had a trading volume of 164,312 shares, compared to its average volume of 357,364. The stock has a market capitalization of $503.53 million, a P/E ratio of -8.66 and a beta of 1.05. The stock has a 50-day moving average price of $6.66 and a 200 day moving average price of $3.97. Corvus Pharmaceuticals has a twelve month low of $1.30 and a twelve month high of $10.00.

Hedge Funds Weigh In On Corvus Pharmaceuticals

Several large investors have recently bought and sold shares of the stock. Nwam LLC bought a new position in shares of Corvus Pharmaceuticals during the 3rd quarter worth about $53,000. Connor Clark & Lunn Investment Management Ltd. increased its stake 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 acquiring an additional 53,809 shares during the period. Oppenheimer & Co. Inc. acquired a new position in Corvus Pharmaceuticals in the 3rd quarter valued at approximately $89,000. Avity Investment Management Inc. lifted its position in shares of Corvus Pharmaceuticals by 138.2% in the 3rd quarter. Avity Investment Management Inc. now owns 27,580 shares of the company’s stock worth $146,000 after acquiring an additional 16,000 shares during the period. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of Corvus Pharmaceuticals during the 2nd quarter worth approximately $44,000. 46.64% of the stock is currently owned by institutional investors and hedge funds.

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.