HC Wainwright Reiterates Buy Rating for Corvus Pharmaceuticals (NASDAQ:CRVS)

Corvus Pharmaceuticals (NASDAQ:CRVS)‘s stock had its “buy” rating restated by research analysts at HC Wainwright in a research report issued to clients and investors on Wednesday,Benzinga reports. They presently have a $11.00 price objective on the stock. HC Wainwright’s target price indicates a potential upside of 226.41% from the stock’s previous close. HC Wainwright also issued estimates for Corvus Pharmaceuticals’ FY2028 earnings at $0.11 EPS and FY2029 earnings at $0.44 EPS.

Corvus Pharmaceuticals Stock Up 0.6 %

Shares of CRVS stock opened at $3.37 on Wednesday. Corvus Pharmaceuticals has a 12 month low of $1.30 and a 12 month high of $10.00. The firm has a market cap of $216.55 million, a PE ratio of -3.62 and a beta of 0.91. The stock has a 50 day moving average of $4.64 and a 200-day moving average of $6.06.

Corvus Pharmaceuticals (NASDAQ:CRVS) last released its earnings results on Tuesday, March 25th. The company reported ($0.18) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.06). As a group, equities analysts predict that Corvus Pharmaceuticals will post -0.63 EPS for the current fiscal year.

Institutional Investors Weigh In On Corvus Pharmaceuticals

Hedge funds have recently made changes to their positions in the stock. RTW Investments LP bought a new stake in shares of Corvus Pharmaceuticals in the 4th quarter worth approximately $14,335,000. Foresite Capital Management VI LLC bought a new position in Corvus Pharmaceuticals in the fourth quarter worth $8,460,000. Deerfield Management Company L.P. Series C bought a new position in Corvus Pharmaceuticals in the fourth quarter worth $5,350,000. Vivo Capital LLC boosted its stake in Corvus Pharmaceuticals by 49.2% during the fourth quarter. Vivo Capital LLC now owns 2,234,566 shares of the company’s stock worth $11,955,000 after buying an additional 737,298 shares in the last quarter. Finally, Sphera Funds Management LTD. bought a new stake in Corvus Pharmaceuticals in the 4th quarter valued at $2,678,000. Institutional investors own 46.64% of the company’s stock.

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.