Corvus Pharmaceuticals (NASDAQ:CRVS) Share Price Crosses Below 50-Day Moving Average of $1.98

Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS)’s stock price passed below its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $1.98 and traded as low as $1.75. Corvus Pharmaceuticals shares last traded at $1.82, with a volume of 85,145 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on CRVS shares. Oppenheimer boosted their price target on Corvus Pharmaceuticals from $7.00 to $8.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 7th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Corvus Pharmaceuticals in a report on Monday, April 1st. Finally, Mizuho reissued a “neutral” rating and issued a $3.50 price objective on shares of Corvus Pharmaceuticals in a report on Wednesday, March 27th.

Corvus Pharmaceuticals Stock Up 2.2 %

The firm’s 50 day moving average is $1.98 and its 200-day moving average is $1.95.

Corvus Pharmaceuticals (NASDAQ:CRVS) last posted its earnings results on Monday, May 6th. The company reported ($0.12) EPS for the quarter, meeting analysts’ consensus estimates of ($0.12). Research analysts anticipate that Corvus Pharmaceuticals, Inc. will post -0.49 earnings per share for the current year.

Insider Buying and Selling at Corvus Pharmaceuticals

In other Corvus Pharmaceuticals news, insider William Benton Jones bought 20,000 shares of Corvus Pharmaceuticals stock in a transaction dated Monday, May 6th. The stock was acquired at an average cost of $1.73 per share, with a total value of $34,600.00. Following the purchase, the insider now directly owns 153,773 shares in the company, valued at approximately $266,027.29. The acquisition was disclosed in a filing with the SEC, which is available at this link. In related news, insider William Benton Jones bought 20,000 shares of the business’s stock in a transaction dated Monday, May 6th. The stock was acquired at an average price of $1.73 per share, with a total value of $34,600.00. Following the completion of the purchase, the insider now directly owns 153,773 shares of the company’s stock, valued at $266,027.29. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Richard A. Md Miller purchased 577,634 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The stock was bought at an average cost of $1.73 per share, for a total transaction of $999,306.82. Following the completion of the purchase, the chief executive officer now directly owns 577,634 shares in the company, valued at approximately $999,306.82. The disclosure for this purchase can be found here. 31.30% of the stock is owned by corporate insiders.

Institutional Trading of Corvus Pharmaceuticals

A hedge fund recently raised its stake in Corvus Pharmaceuticals stock. Towerview LLC lifted its holdings in Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) by 27.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 436,873 shares of the company’s stock after buying an additional 94,395 shares during the period. Corvus Pharmaceuticals makes up 0.5% of Towerview LLC’s holdings, making the stock its 17th biggest position. Towerview LLC owned 0.89% of Corvus Pharmaceuticals worth $769,000 as of its most recent SEC filing. 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.