Corvus Pharmaceuticals (NASDAQ:CRVS) Coverage Initiated at HC Wainwright

HC Wainwright initiated coverage on shares of Corvus Pharmaceuticals (NASDAQ:CRVS - Free Report) in a report published on Thursday, MarketBeat.com reports. The brokerage issued a buy rating and a $11.00 price target on the stock.

A number of other brokerages have also recently issued reports on CRVS. Oppenheimer raised their price target on Corvus Pharmaceuticals from $8.00 to $14.00 and gave the stock an "outperform" rating in a research note on Wednesday, November 13th. Mizuho upgraded 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 upped their price target on shares of Corvus Pharmaceuticals from $12.00 to $21.00 and gave the company a "buy" rating in a research report on Monday, September 16th. Finally, StockNews.com downgraded shares of 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 stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $12.38.

Corvus Pharmaceuticals Stock Performance

CRVS stock traded up $0.08 during mid-day trading on Thursday, reaching $5.43. The company had a trading volume of 909,045 shares, compared to its average volume of 490,841. Corvus Pharmaceuticals has a fifty-two week low of $1.30 and a fifty-two week high of $10.00. The firm has a fifty day simple moving average of $7.72 and a 200 day simple moving average of $5.26. The company has a market capitalization of $348.92 million, a price-to-earnings ratio of -5.84 and a beta of 1.05.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CRVS. Point72 Asset Management L.P. purchased a new position in shares of Corvus Pharmaceuticals during the second quarter valued at approximately $10,855,000. Samlyn Capital LLC lifted its stake in shares of Corvus Pharmaceuticals by 160.7% during the 2nd quarter. Samlyn Capital LLC now owns 6,123,021 shares of the company's stock worth $11,144,000 after purchasing an additional 3,774,658 shares during the period. Geode Capital Management LLC boosted its holdings 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 purchasing an additional 102,869 shares during the last quarter. Marshall Wace LLP purchased a new stake in shares of Corvus Pharmaceuticals in the second quarter valued at $136,000. Finally, State Street Corp grew its position in shares of 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. 46.64% of the stock is currently owned by institutional investors and hedge funds.

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.