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

StockNews.com upgraded shares of Corvus Pharmaceuticals (NASDAQ:CRVS) from a sell rating to a hold rating in a report released on Wednesday morning.

Separately, LADENBURG THALM/SH SH lifted their price objective on shares of Corvus Pharmaceuticals from $12.00 to $21.00 and gave the stock a “buy” rating in a research report on Monday, September 16th. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $10.83.

Corvus Pharmaceuticals Price Performance

CRVS opened at $8.31 on Wednesday. The stock has a market capitalization of $519.80 million, a price-to-earnings ratio of -15.98 and a beta of 1.14. The business has a fifty day moving average price of $5.41 and a 200 day moving average price of $3.29. Corvus Pharmaceuticals has a 12 month low of $1.05 and a 12 month high of $8.69.

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

Institutional Trading of Corvus Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in shares of Corvus Pharmaceuticals by 10.6% in the 1st quarter. Vanguard Group Inc. now owns 1,493,357 shares of the company’s stock valued at $2,658,000 after buying an additional 142,724 shares during the last quarter. Towerview LLC grew its holdings in shares of Corvus Pharmaceuticals by 4.6% during the second 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 last quarter. Samlyn Capital LLC increased its position in shares of Corvus Pharmaceuticals by 160.7% during the second quarter. Samlyn Capital LLC now owns 6,123,021 shares of the company’s stock worth $11,144,000 after purchasing an additional 3,774,658 shares in the last quarter. Marshall Wace LLP acquired a new stake in shares of Corvus Pharmaceuticals during the second quarter worth about $136,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of Corvus Pharmaceuticals in the 2nd quarter valued at about $44,000. Institutional investors and hedge funds 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.