StockNews.com Lowers 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 report sent to investors on Friday.

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

Corvus Pharmaceuticals Price Performance

Shares of CRVS opened at $6.33 on Friday. The firm has a market cap of $395.95 million, a P/E ratio of -12.17 and a beta of 1.14. Corvus Pharmaceuticals has a 1 year low of $1.05 and a 1 year high of $6.45. The company has a 50 day simple moving average of $4.64 and a two-hundred day simple moving average of $2.89.

Corvus Pharmaceuticals (NASDAQ:CRVS) last posted its 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 previous year, the company earned ($0.14) earnings per share. On average, sell-side analysts anticipate that Corvus Pharmaceuticals will post -0.45 earnings per share for the current year.

Hedge Funds Weigh In On Corvus Pharmaceuticals

A number of large investors have recently bought and sold shares of the business. Avity Investment Management Inc. increased its stake in Corvus Pharmaceuticals by 138.2% in the third 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 period. Cubist Systematic Strategies LLC bought a new position in shares of Corvus Pharmaceuticals in the second quarter worth about $44,000. Point72 Asset Management L.P. purchased a new position in Corvus Pharmaceuticals in the 2nd quarter worth about $10,855,000. Marshall Wace LLP bought a new stake in Corvus Pharmaceuticals during the 2nd quarter valued at about $136,000. Finally, Samlyn Capital LLC lifted its holdings in Corvus Pharmaceuticals by 160.7% during the 2nd quarter. Samlyn Capital LLC now owns 6,123,021 shares of the company’s stock valued at $11,144,000 after buying an additional 3,774,658 shares in the last quarter. Hedge funds and other institutional investors own 46.64% of the company’s stock.

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.