Corvus Pharmaceuticals (NASDAQ:CRVS) Hits New 52-Week High - Should You Buy?

Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $8.15 and last traded at $8.03, with a volume of 393948 shares trading hands. The stock had previously closed at $7.56.

Analyst Ratings Changes

Several brokerages have weighed in on CRVS. StockNews.com downgraded Corvus Pharmaceuticals from a "hold" rating to a "sell" rating in a report on Friday, October 11th. LADENBURG THALM/SH SH lifted their target price 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. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $10.83.

Corvus Pharmaceuticals Stock Up 2.5 %

The stock has a 50-day moving average of $5.17 and a 200 day moving average of $3.17. The stock has a market cap of $484.77 million, a PE ratio of -14.90 and a beta of 1.14.

Corvus Pharmaceuticals (NASDAQ:CRVS - Get Free Report) last announced its quarterly earnings data on Tuesday, August 6th. The company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.12) by $0.05. During the same quarter last year, the firm earned ($0.14) EPS. On average, equities analysts anticipate that Corvus Pharmaceuticals, Inc. will post -0.45 EPS for the current year.

Institutional Investors Weigh In On Corvus Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Avity Investment Management Inc. grew its holdings in Corvus Pharmaceuticals by 138.2% during the third 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. Cubist Systematic Strategies LLC acquired a new stake in shares of Corvus Pharmaceuticals during the 2nd quarter worth approximately $44,000. Point72 Asset Management L.P. acquired a new stake in shares of Corvus Pharmaceuticals during the 2nd quarter worth approximately $10,855,000. Marshall Wace LLP purchased a new position in shares of Corvus Pharmaceuticals during the 2nd quarter valued at approximately $136,000. Finally, 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 period. 46.64% of the stock is 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.