Corvus Pharmaceuticals (NASDAQ:CRVS) Trading 8.5% Higher – Here’s What Happened

Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) shares traded up 8.5% on Thursday . The stock traded as high as $8.97 and last traded at $8.94. 516,363 shares traded hands during trading, an increase of 37% from the average session volume of 375,641 shares. The stock had previously closed at $8.24.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. LADENBURG THALM/SH SH increased their target price 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. Mizuho raised Corvus Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 22nd. StockNews.com lowered Corvus Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Thursday, October 31st. Finally, Oppenheimer increased 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. 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’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $12.83.

Corvus Pharmaceuticals Trading Up 0.1 %

The firm has a market cap of $575.13 million, a P/E ratio of -9.62 and a beta of 1.05. The business’s fifty day simple moving average is $7.22 and its 200-day simple moving average is $4.29.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Virtu Financial LLC bought a new stake in Corvus Pharmaceuticals in the third quarter valued at approximately $83,000. 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 period. XTX Topco Ltd bought a new stake in shares of Corvus Pharmaceuticals in the third quarter worth about $74,000. Jane Street Group LLC bought a new position in Corvus Pharmaceuticals during the 3rd quarter valued at approximately $265,000. Finally, State Street Corp lifted its holdings in Corvus Pharmaceuticals by 48.2% in the 3rd quarter. State Street Corp now owns 178,246 shares of the company’s stock worth $941,000 after buying an additional 57,943 shares during the period. 46.64% of the stock is currently owned by institutional investors.

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.