Corvus Pharmaceuticals (NASDAQ:CRVS) Hits New 1-Year High - Here's Why

Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS - Get Free Report) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $9.90 and last traded at $9.66, with a volume of 57443 shares traded. The stock had previously closed at $9.45.

Wall Street Analyst Weigh In

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

Corvus Pharmaceuticals Stock Up 1.2 %

The stock has a market cap of $597.98 million, a price-to-earnings ratio of -21.16 and a beta of 1.05. The company's 50-day simple moving average is $6.37 and its 200-day simple moving average is $3.83.

Institutional Investors Weigh In On Corvus Pharmaceuticals

A number of institutional investors have recently modified their holdings of CRVS. Point72 Asset Management L.P. acquired a new stake in shares of Corvus Pharmaceuticals in the 2nd quarter valued at $10,855,000. Samlyn Capital LLC lifted its stake in shares of Corvus Pharmaceuticals by 160.7% in the 2nd 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 during the last quarter. Vanguard Group Inc. lifted its stake in shares of Corvus Pharmaceuticals by 10.6% in the 1st quarter. Vanguard Group Inc. now owns 1,493,357 shares of the company's stock valued at $2,658,000 after purchasing an additional 142,724 shares during the last quarter. Marshall Wace LLP acquired a new stake in shares of Corvus Pharmaceuticals in the 2nd quarter valued at $136,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Corvus Pharmaceuticals by 64.7% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 137,031 shares of the company's stock valued at $724,000 after purchasing an additional 53,809 shares during the last quarter. Institutional investors and hedge funds own 46.64% of the company's stock.

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.