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

by · The Cerbat Gem

Corvus Pharmaceuticals (NASDAQ:CRVS – Get Free Report) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a report released on Friday.

Separately, LADENBURG THALM/SH SH upped their target price on Corvus Pharmaceuticals from $12.00 to $21.00 and gave the stock a “buy” rating in a research note on Monday, September 16th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $10.83.

Get Our Latest Report on CRVS

Corvus Pharmaceuticals Trading Up 1.2 %

NASDAQ CRVS opened at $5.15 on Friday. The company has a market cap of $322.14 million, a price-to-earnings ratio of -9.90 and a beta of 1.13. The company has a 50 day moving average of $4.03 and a 200-day moving average of $2.63. Corvus Pharmaceuticals has a 1-year low of $1.05 and a 1-year high of $6.15.

Corvus Pharmaceuticals (NASDAQ:CRVS – Get Free Report) last released its earnings results on Tuesday, August 6th. The company reported ($0.07) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.05. During the same period in the prior year, the company earned ($0.14) EPS. On average, equities research analysts forecast that Corvus Pharmaceuticals will post -0.45 earnings per share for the current year.

Institutional Investors Weigh In On Corvus Pharmaceuticals

A number of hedge funds have recently made changes to their positions in CRVS. Samlyn Capital LLC lifted its stake in Corvus Pharmaceuticals by 160.7% in the 2nd quarter. Samlyn Capital LLC now owns 6,123,021 shares of the company’s stock valued at $11,144,000 after purchasing an additional 3,774,658 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of Corvus Pharmaceuticals during the 2nd quarter valued at $10,855,000. 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 acquiring an additional 142,724 shares during the last quarter. Towerview LLC increased its holdings 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. Finally, Marshall Wace LLP bought a new position in Corvus Pharmaceuticals in the second quarter valued at about $136,000. 46.64% of the stock is currently owned by institutional investors and hedge funds.

About Corvus Pharmaceuticals

(Get Free Report)

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.

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