Corvus Pharmaceuticals (NASDAQ:CRVS) Downgraded to “Sell” at StockNews.com

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

Separately, LADENBURG THALM/SH SH boosted their price target 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 assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $10.83.

Corvus Pharmaceuticals Stock Performance

CRVS traded up $0.06 during trading on Friday, reaching $5.15. The stock had a trading volume of 151,391 shares, compared to its average volume of 274,413. The business has a 50-day moving average of $3.97 and a 200-day moving average of $2.60. Corvus Pharmaceuticals has a one year low of $1.05 and a one year high of $6.15. The stock 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 earnings results on Tuesday, August 6th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.05. During the same period in the previous year, the business posted ($0.14) earnings per share. Equities research analysts forecast that Corvus Pharmaceuticals will post -0.45 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CRVS. Cubist Systematic Strategies LLC purchased a new position in shares of Corvus Pharmaceuticals during the second quarter valued at approximately $44,000. Marshall Wace LLP bought a new position in Corvus Pharmaceuticals in the 2nd quarter worth $136,000. Towerview LLC lifted its position in shares of 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 during the period. Vanguard Group Inc. boosted its stake 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 valued at $2,658,000 after purchasing an additional 142,724 shares in the last quarter. Finally, Point72 Asset Management L.P. purchased a new position in shares of Corvus Pharmaceuticals during the second quarter valued at about $10,855,000. 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.