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

Corvus Pharmaceuticals (NASDAQ:CRVS) was downgraded by investment analysts at StockNews.com from a “hold” rating to a “sell” rating in a report released on Friday.

Separately, LADENBURG THALM/SH SH increased their price objective on shares of Corvus Pharmaceuticals from $12.00 to $21.00 and gave the company a “buy” rating in a research report on Monday, September 16th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $10.83.

Corvus Pharmaceuticals Price Performance

NASDAQ CRVS traded up $0.06 during trading hours on Friday, reaching $5.15. 151,391 shares of the company’s stock traded hands, compared to its average volume of 274,413. Corvus Pharmaceuticals has a 52-week low of $1.05 and a 52-week high of $6.15. The firm has a 50-day simple moving average of $3.97 and a 200 day simple moving average of $2.60. The firm has a market cap of $322.14 million, a PE ratio of -9.90 and a beta of 1.13.

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

Hedge Funds Weigh In On Corvus Pharmaceuticals

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Cubist Systematic Strategies LLC bought a new position in Corvus Pharmaceuticals during the second quarter valued at approximately $44,000. Point72 Asset Management L.P. purchased a new stake in Corvus Pharmaceuticals during the second quarter valued at approximately $10,855,000. Marshall Wace LLP bought a new position in Corvus Pharmaceuticals in the second quarter worth approximately $136,000. Samlyn Capital LLC raised its position in Corvus Pharmaceuticals by 160.7% in the second quarter. Samlyn Capital LLC now owns 6,123,021 shares of the company’s stock worth $11,144,000 after acquiring an additional 3,774,658 shares during the period. Finally, Towerview LLC boosted its stake in shares of Corvus Pharmaceuticals by 4.6% during the 2nd quarter. Towerview LLC now owns 400,000 shares of the company’s stock worth $728,000 after acquiring an additional 17,500 shares during the last quarter. 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.