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

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

Separately, LADENBURG THALM/SH SH boosted their target price on shares of Corvus Pharmaceuticals from $12.00 to $21.00 and gave the stock a buy rating in a research note on Monday, September 16th. One research 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’s stock. According to data from MarketBeat.com, the company presently has an average rating of Hold and an average price target of $10.83.

Corvus Pharmaceuticals Trading Up 2.5 %

Shares of CRVS stock opened at $5.28 on Friday. Corvus Pharmaceuticals has a 12-month low of $1.05 and a 12-month high of $6.15. The business’s 50 day moving average is $4.03 and its two-hundred day moving average is $2.63. The company has a market capitalization of $330.27 million, a P/E ratio of -10.15 and a beta of 1.13.

Corvus Pharmaceuticals (NASDAQ:CRVS) last released its quarterly earnings results 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 posted ($0.14) earnings per share. On average, research analysts predict that Corvus Pharmaceuticals will post -0.45 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Corvus Pharmaceuticals

A number of large investors have recently modified their holdings of the business. Cubist Systematic Strategies LLC purchased a new position in shares of Corvus Pharmaceuticals in the second quarter worth about $44,000. Marshall Wace LLP acquired a new stake in Corvus Pharmaceuticals in the 2nd quarter valued at about $136,000. Towerview LLC lifted its stake in Corvus Pharmaceuticals by 4.6% in 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 in the last quarter. Vanguard Group Inc. boosted its holdings in shares of 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 last quarter. Finally, Point72 Asset Management L.P. acquired a new position in shares of Corvus Pharmaceuticals during the 2nd quarter worth approximately $10,855,000. 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.