StockNews.com Downgrades Corvus Pharmaceuticals (NASDAQ:CRVS) to Sell

StockNews.com cut shares of Corvus Pharmaceuticals (NASDAQ:CRVS) from a hold rating to a sell rating in a research note published on Thursday morning.

Several other research analysts have also recently issued reports on CRVS. LADENBURG THALM/SH SH lifted their target price on Corvus Pharmaceuticals from $12.00 to $21.00 and gave the company a “buy” rating in a research report on Monday, September 16th. Mizuho upgraded shares of Corvus Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $10.83.

Corvus Pharmaceuticals Trading Up 2.9 %

NASDAQ CRVS opened at $9.10 on Thursday. The company has a market cap of $569.21 million, a P/E ratio of -20.22 and a beta of 1.04. The company has a fifty day simple moving average of $5.88 and a 200 day simple moving average of $3.56. Corvus Pharmaceuticals has a 12-month low of $1.21 and a 12-month high of $9.28.

Corvus Pharmaceuticals (NASDAQ:CRVS) last issued its quarterly earnings data on Tuesday, August 6th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.05. During the same quarter last year, the firm earned ($0.14) EPS. Sell-side analysts predict that Corvus Pharmaceuticals will post -0.45 EPS for the current year.

Institutional Investors Weigh In On Corvus Pharmaceuticals

Several large investors have recently made changes to their positions in the business. Avity Investment Management Inc. increased its stake in shares of Corvus Pharmaceuticals by 138.2% during the 3rd quarter. Avity Investment Management Inc. now owns 27,580 shares of the company’s stock worth $146,000 after purchasing an additional 16,000 shares during the last quarter. Towerview LLC grew its holdings in Corvus Pharmaceuticals by 4.6% during the second quarter. Towerview LLC now owns 400,000 shares of the company’s stock valued at $728,000 after purchasing an additional 17,500 shares during the period. Cubist Systematic Strategies LLC purchased a new stake in Corvus Pharmaceuticals in the second quarter worth $44,000. Marshall Wace LLP purchased a new stake in Corvus Pharmaceuticals in the second quarter worth $136,000. Finally, Vanguard Group Inc. raised its stake in shares of Corvus Pharmaceuticals by 10.6% in the first quarter. Vanguard Group Inc. now owns 1,493,357 shares of the company’s stock valued at $2,658,000 after buying an additional 142,724 shares during the period. 46.64% of the stock is owned by hedge funds and other institutional investors.

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.