Corvus Pharmaceuticals Inc (NASDAQ: CRVS)’s stock price has dropped by -12.04 in relation to previous closing price of 1.91. Nevertheless, the company has seen a gain of 8.39% in its stock price over the last five trading days. Seeking Alpha reported 2024-05-06 that Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS ) Q1 2024 Earnings Conference Call May 6, 2024 4:30 PM ET Company Participants Zack Kubow – Real Chemistry Richard Miller – President and CEO, Co-Founder Leiv Lea – Chief Financial Officer Jeffrey Arcara – Chief Business Officer James Rosenbaum – Senior Vice President of Research Ben Jones – Senior Vice President of Regulatory and Pharmaceutical Sciences Conference Call Participants Jeff Jones – Oppenheimer Graig Suvannavejh – Mizuho Securities Liang Cheng – Jefferies Rosemary Li – Cantor Fitzgerald Operator Good afternoon ladies and gentlemen and welcome to the Corvus Pharmaceuticals’ Business Update and Reports First Quarter 2024 Financial Results Conference Call. At this time, all lines are in a listen-only mode.
Is It Worth Investing in Corvus Pharmaceuticals Inc (NASDAQ: CRVS) Right Now?
The 36-month beta value for CRVS is also noteworthy at 1.04. There are mixed opinions on the stock, with 2 analysts rating it as a “buy,” 3 rating it as “overweight,” 1 rating it as “hold,” and 0 rating it as “sell.”
The public float for CRVS is 36.90M, and at present, short sellers hold a 3.70% of that float. The average trading volume of CRVS on May 08, 2024 was 226.83K shares.
CRVS’s Market Performance
The stock of Corvus Pharmaceuticals Inc (CRVS) has seen a 8.39% increase in the past week, with a -1.75% drop in the past month, and a -17.65% fall in the past quarter. The volatility ratio for the week is 16.75%, and the volatility levels for the past 30 days are at 11.12% for CRVS. The simple moving average for the past 20 days is 8.21% for CRVS’s stock, with a -6.74% simple moving average for the past 200 days.
Analysts’ Opinion of CRVS
Many brokerage firms have already submitted their reports for CRVS stocks, with Oppenheimer repeating the rating for CRVS by listing it as a “Outperform.” The predicted price for CRVS in the upcoming period, according to Oppenheimer is $7 based on the research report published on August 18, 2023 of the previous year 2023.
Jefferies, on the other hand, stated in their research note that they expect to see CRVS reach a price target of $8. The rating they have provided for CRVS stocks is “Buy” according to the report published on December 01st, 2021.
Cantor Fitzgerald gave a rating of “Overweight” to CRVS, setting the target price at $10 in the report published on May 27th of the previous year.
CRVS Trading at -6.78% from the 50-Day Moving Average
After a stumble in the market that brought CRVS to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -59.90% of loss for the given period.
Volatility was left at 11.12%, however, over the last 30 days, the volatility rate increased by 16.75%, as shares surge +3.07% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -26.96% lower at present.
During the last 5 trading sessions, CRVS rose by +8.39%, which changed the moving average for the period of 200-days by -39.02% in comparison to the 20-day moving average, which settled at $1.5550. In addition, Corvus Pharmaceuticals Inc saw -4.55% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at CRVS starting from MILLER RICHARD A MD, who purchase 577,634 shares at the price of $1.73 back on May 06 ’24. After this action, MILLER RICHARD A MD now owns 577,634 shares of Corvus Pharmaceuticals Inc, valued at $1,000,000 using the latest closing price.
Jones William Benton, the of Corvus Pharmaceuticals Inc, purchase 20,000 shares at $1.73 during a trade that took place back on May 06 ’24, which means that Jones William Benton is holding 153,773 shares at $34,624 based on the most recent closing price.
Stock Fundamentals for CRVS
The total capital return value is set at -0.61. Equity return is now at value -60.46, with -50.58 for asset returns.
Based on Corvus Pharmaceuticals Inc (CRVS), the company’s capital structure generated 0.03 points at debt to capital in total, while cash flow to debt ratio is standing at -17.42. The debt to equity ratio resting at 0.04. The interest coverage ratio of the stock is -19.44.
Currently, EBITDA for the company is -23.26 million with net debt to EBITDA at 0.48. The liquidity ratio also appears to be rather interesting for investors as it stands at 4.07.
Conclusion
In summary, Corvus Pharmaceuticals Inc (CRVS) has had a mixed performance as of late. Analysts have bullish opinions on the stock, with some viewing it as a “buy” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
