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

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

Separately, LADENBURG THALM/SH SH raised 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 research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $10.83.

Corvus Pharmaceuticals Stock Up 9.0 %

CRVS opened at $6.33 on Friday. The firm has a 50-day moving average price of $4.64 and a 200-day moving average price of $2.89. Corvus Pharmaceuticals has a twelve month low of $1.05 and a twelve month high of $6.45. The company has a market capitalization of $395.95 million, a price-to-earnings ratio of -12.17 and a beta of 1.14.

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, beating analysts’ consensus estimates of ($0.12) by $0.05. During the same quarter in the prior year, the firm posted ($0.14) EPS. On average, sell-side analysts expect that Corvus Pharmaceuticals will post -0.45 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Corvus Pharmaceuticals

Large investors have recently added to or reduced their stakes in the business. Cubist Systematic Strategies LLC bought a new position in Corvus Pharmaceuticals in the 2nd quarter worth about $44,000. Marshall Wace LLP purchased a new stake in Corvus Pharmaceuticals in the second quarter valued at approximately $136,000. Avity Investment Management Inc. raised its stake in Corvus Pharmaceuticals by 138.2% in the third quarter. Avity Investment Management Inc. now owns 27,580 shares of the company’s stock valued at $146,000 after purchasing an additional 16,000 shares in the last quarter. Towerview LLC lifted its position in Corvus Pharmaceuticals by 4.6% during the second quarter. Towerview LLC now owns 400,000 shares of the company’s stock valued at $728,000 after purchasing an additional 17,500 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in Corvus Pharmaceuticals by 10.6% in the 1st quarter. Vanguard Group Inc. now owns 1,493,357 shares of the company’s stock worth $2,658,000 after buying an additional 142,724 shares in the last quarter. 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.