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

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

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

Corvus Pharmaceuticals Stock Down 3.0 %

Shares of NASDAQ CRVS opened at $5.81 on Friday. Corvus Pharmaceuticals has a twelve month low of $1.05 and a twelve month high of $6.15. The stock’s 50 day moving average price is $4.57 and its 200-day moving average price is $2.85. The company has a market capitalization of $363.42 million, a PE ratio of -11.17 and a beta of 1.14.

Corvus Pharmaceuticals (NASDAQ:CRVS) last posted 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 quarter in the prior year, the firm posted ($0.14) earnings per share. As a group, research analysts expect that Corvus Pharmaceuticals will post -0.45 EPS for the current fiscal year.

Institutional Investors Weigh In On Corvus Pharmaceuticals

Hedge funds have recently modified their holdings of the stock. Cubist Systematic Strategies LLC bought a new stake in shares of Corvus Pharmaceuticals in the 2nd quarter worth approximately $44,000. Avity Investment Management Inc. raised its holdings in Corvus Pharmaceuticals by 138.2% during the 3rd quarter. Avity Investment Management Inc. now owns 27,580 shares of the company’s stock valued at $146,000 after acquiring an additional 16,000 shares during the period. Marshall Wace LLP bought a new stake in Corvus Pharmaceuticals during the 2nd quarter valued at $136,000. Towerview LLC raised its holdings in Corvus Pharmaceuticals by 4.6% during the 2nd quarter. Towerview LLC now owns 400,000 shares of the company’s stock valued at $728,000 after acquiring an additional 17,500 shares during the period. Finally, Vanguard Group Inc. raised its holdings in Corvus Pharmaceuticals by 10.6% during the 1st quarter. Vanguard Group Inc. now owns 1,493,357 shares of the company’s stock valued at $2,658,000 after acquiring an additional 142,724 shares during the period. 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.