Corvus Pharmaceuticals (NASDAQ:CRVS) Hits New 12-Month High - Here's What Happened

Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $8.80 and last traded at $8.68, with a volume of 62307 shares trading hands. The stock had previously closed at $8.31.

Analyst Ratings Changes

Several research analysts have commented on the stock. StockNews.com upgraded shares of Corvus Pharmaceuticals from a "sell" rating to a "hold" rating in a research report on Wednesday, October 23rd. Mizuho upgraded Corvus Pharmaceuticals from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, October 22nd. Finally, LADENBURG THALM/SH SH lifted their target price on Corvus Pharmaceuticals from $12.00 to $21.00 and gave the company a "buy" rating in a research report on Monday, September 16th. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $10.83.

Corvus Pharmaceuticals Stock Up 4.0 %

The company has a 50-day moving average of $5.41 and a 200-day moving average of $3.30. The company has a market cap of $540.44 million, a PE ratio of -16.71 and a beta of 1.14.

Corvus Pharmaceuticals (NASDAQ:CRVS - Get Free Report) last posted its earnings results on Tuesday, August 6th. The company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.12) by $0.05. During the same quarter in the previous year, the company posted ($0.14) earnings per share. As a group, equities analysts predict that Corvus Pharmaceuticals, Inc. will post -0.45 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Cubist Systematic Strategies LLC bought a new position in Corvus Pharmaceuticals in the 2nd quarter worth $44,000. Marshall Wace LLP purchased a new stake in shares of Corvus Pharmaceuticals during the second quarter valued at $136,000. Avity Investment Management Inc. grew its stake in shares of Corvus Pharmaceuticals by 138.2% in 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. Towerview LLC boosted its holdings in shares of Corvus Pharmaceuticals by 4.6% in the second quarter. Towerview LLC now owns 400,000 shares of the company's stock worth $728,000 after buying an additional 17,500 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in Corvus Pharmaceuticals by 10.6% during the 1st quarter. Vanguard Group Inc. now owns 1,493,357 shares of the company's stock worth $2,658,000 after acquiring an additional 142,724 shares during the period. Hedge funds and other institutional investors 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.