The stock of Corvus Pharmaceuticals Inc. (NASDAQ:CRVS) increased by $0.14 on Wednesday to $2.20, up 7.04 percent. The last five days have seen an average of 318,915 shares of common stock traded. 13 times new highs were reached in the current year, with a gain of $1.36. The average number of shares traded over the last 20 days was 210,944, while the average volume over the last 50 days totaled 350,130.
CRVS stock dropped -1.56% since last month. On 08/17/23, the company’s shares reached a one-month low of $1.99. The stock touched a high of $4.19 on 06/09/23, after rallying from a low of $0.61 in 52 weeks. The price of CRVS stock has risen by 159.41% or $1.36 this year, reaching a new high 13 times. Still, the stock price is down -47.37% from the 52-week high.
Insider Transactions
CRVS stock investors should be aware that Corvus Pharmaceuticals Inc. (CRVS) stock had its last reported insider trading activity 107 days ago on May 15. On May 15, Director Grais Linda acquired 10,000 shares at $2.45 each. This transaction resulted in the insider spending $24,500. On Dec 20, Jones William Benton added 20,000 shares at a price of US$0.79. After the transaction, the insider now owns 133,773 shares. President and CEO MILLER RICHARD A MD had earlier bought 10,000 shares on Dec 14 for $0.78 a share. The transaction was completed for $7,812.
Financial Health
For the three months ended June 29, Corvus Pharmaceuticals Inc.’s quick ratio was 4.80, while its current ratio was 4.80, indicating its ability to pay off its debt.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. CRVS’s return on assets (ROA) during the last 12 months has been -58.90%. In the meantime, the return on equity (ROE) for the last 12 months was -71.20%.
Earnings Surprise
According to Corvus Pharmaceuticals Inc.’s quarterly financial report for the quarter that ended June 29. It was predicted that Corvus Pharmaceuticals Inc.’s quarterly earnings would be -$0.14, but it ended up being -$0.14. At the end of Corvus Pharmaceuticals Inc.’s most recent quarter ended June 29, its liabilities totaled 8.56 million, while its total debt was $2.0 million. Equity owned by shareholders amounts to $48.97 million.
Technical Picture
Here’s a quick look at Corvus Pharmaceuticals Inc.’s (CRVS) price momentum from a technical perspective. As of 29 August, the RSI 9-day stood at 53.14%, suggesting the stock is Neutral, with a 96.57% historical volatility rate.
The stochastic %K and %D were 25.00% and 18.81% respectively, while the average true range (ATR) was 0.19. Based on the 14-day stochastic reading of 50.00%, the RSI (14) reading is 49.96%. On the 9-day MACD Oscillator, the stock is at -0.04, and the 14-day reading is at -0.04.
Analyst Ratings
In its analyst report released on August 18, 2023, Oppenheimer began covering Corvus Pharmaceuticals Inc. (NASDAQ: CRVS). The stock was rated as an Outperform by the brokerage firm. Analysts have assigned Corvus Pharmaceuticals Inc. (CRVS) an Buy rating. CRVS is a stock that is recommended for selling by 0 brokerage firms, while 1 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 0 rates it overweight and 4 others recommend it as a buy.
What is CRVS’s price target for the next 12 months?
The current consensus forecast for the stock is between $3.50 and $12.00, with a median target price of $7.00. In analyzing these forecasts, the average price target given by analysts for Corvus Pharmaceuticals Inc. (CRVS) is $6.90.
