Corvus Pharmaceuticals (NASDAQ:CRVS) Lifted to Hold at StockNews.com

StockNews.com upgraded shares of Corvus Pharmaceuticals (NASDAQ:CRVS) from a sell rating to a hold rating in a research report sent to investors on Friday.

Corvus Pharmaceuticals Trading Down 0.6 %

Shares of Corvus Pharmaceuticals stock opened at $5.10 on Friday. Corvus Pharmaceuticals has a 12 month low of $1.05 and a 12 month high of $5.22. The stock’s fifty day moving average price is $3.35 and its 200-day moving average price is $2.40. The firm has a market cap of $319.01 million, a P/E ratio of -9.81 and a beta of 1.13.

Corvus Pharmaceuticals (NASDAQ:CRVS) last issued its quarterly earnings data 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 company posted ($0.14) earnings per share. Analysts forecast that Corvus Pharmaceuticals will post -0.45 earnings per share for the current year.

Hedge Funds Weigh In On Corvus Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of the company. Cubist Systematic Strategies LLC purchased a new position in Corvus Pharmaceuticals in the 2nd quarter worth $44,000. Marshall Wace LLP purchased a new stake in Corvus Pharmaceuticals in the second quarter valued at $136,000. Towerview LLC grew its position in 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 purchasing an additional 17,500 shares during the period. Vanguard Group Inc. grew its position in Corvus Pharmaceuticals by 10.6% during the 1st quarter. Vanguard Group Inc. now owns 1,493,357 shares of the company’s stock worth $2,658,000 after purchasing an additional 142,724 shares during the period. Finally, Point72 Asset Management L.P. acquired a new position in shares of Corvus Pharmaceuticals in the 2nd quarter valued at about $10,855,000. 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.