Corvus Pharmaceuticals Inc. [CRVS] is -65.39% lower this YTD. Is it still time to buy?

Corvus Pharmaceuticals Inc. [NASDAQ: CRVS] gained 1.12% on the last trading session, reaching $0.83 price per share at the time. The company report on December 12, 2022 that Corvus Pharmaceuticals Presents Updated Data from CPI-818 (ITK Inhibitor) Phase 1/1b Clinical Trial at the 64th American Society of Hematology (ASH) Annual Meeting & Exposition.

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Results in patients with refractory T cell lymphoma demonstrated CPI-818’s anti-tumor activity and effects on T cell differentiation which indicate therapeutic potential in Th2 and Th17-mediated autoimmune and allergic diseases.

Corvus confirms plans to initiate a Phase 2 clinical trial of CPI-818 in T cell lymphoma and a Phase 1 clinical trial in atopic dermatitis, both in 2023.

Corvus Pharmaceuticals Inc. represents 46.55 million in outstanding shares, while the company has a total market value of $38.41 million with the latest information. CRVS stock price has been found in the range of $0.8266 to $0.86.

If compared to the average trading volume of 150.05K shares, CRVS reached a trading volume of 144357 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Corvus Pharmaceuticals Inc. [CRVS]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CRVS shares is $3.62 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CRVS stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Jefferies have made an estimate for Corvus Pharmaceuticals Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on December 01, 2021. While these analysts kept the previous recommendation, Cantor Fitzgerald raised their target price to Overweight. The new note on the price target was released on May 27, 2021, representing the official price target for Corvus Pharmaceuticals Inc. stock. Previously, the target price had yet another drop from $7 to $4, while Mizuho kept a Neutral rating on CRVS stock.

The Average True Range (ATR) for Corvus Pharmaceuticals Inc. is set at 0.08 The Price to Book ratio for the last quarter was 0.60, with the Price to Cash per share for the same quarter was set at 1.08.

Trading performance analysis for CRVS stock

Corvus Pharmaceuticals Inc. [CRVS] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -3.00. With this latest performance, CRVS shares dropped by -7.31% in over the last four-week period, additionally sinking by -22.04% over the last 6 months – not to mention a drop of -69.44% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CRVS stock in for the last two-week period is set at 44.64, with the RSI for the last a single of trading hit 43.71, and the three-weeks RSI is set at 45.71 for Corvus Pharmaceuticals Inc. [CRVS]. The present Moving Average for the last 50 days of trading for this stock 0.8910, while it was recorded at 0.8121 for the last single week of trading, and 1.0694 for the last 200 days.

Corvus Pharmaceuticals Inc. [CRVS]: A deeper dive into fundamental analysis

Return on Equity for this stock declined to -51.08, with Return on Assets sitting at -44.35.

Corvus Pharmaceuticals Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.70 and a Current Ratio set at 3.70.

An analysis of insider ownership at Corvus Pharmaceuticals Inc. [CRVS]

There are presently around $18 million, or 47.70% of CRVS stock, in the hands of institutional investors. The top three institutional holders of CRVS stocks are: ORBIMED ADVISORS LLC with ownership of 6,943,654, which is approximately 0% of the company’s market cap and around 0.10% of the total institutional ownership; ADAMS STREET PARTNERS LLC, holding 3,275,616 shares of the stock with an approximate value of $2.73 million in CRVS stocks shares; and CHI ADVISORS LLC, currently with $1.99 million in CRVS stock with ownership of nearly 7.688% of the company’s market capitalization.

Positions in Corvus Pharmaceuticals Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 14 institutional holders increased their position in Corvus Pharmaceuticals Inc. [NASDAQ:CRVS] by around 495,503 shares. Additionally, 17 investors decreased positions by around 4,020,493 shares, while 21 investors held positions by with 17,572,451 shares. The mentioned changes placed institutional holdings at 22,088,447 shares, according to the latest SEC report filing. CRVS stock had 5 new institutional investments in for a total of 72,169 shares, while 5 institutional investors sold positions of 3,316,548 shares during the same period.


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