Corvus Pharmaceuticals (NASDAQ:CRVS) Stock Price Down 7.8% – Here’s Why

Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS)’s stock price traded down 7.8% during trading on Monday . The stock traded as low as $8.38 and last traded at $8.38. 264,867 shares traded hands during trading, a decline of 31% from the average session volume of 381,395 shares. The stock had previously closed at $9.09.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Mizuho raised shares of Corvus Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 22nd. Oppenheimer boosted their price objective on shares of Corvus Pharmaceuticals from $8.00 to $14.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. StockNews.com lowered shares of Corvus Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Thursday, October 31st. Finally, LADENBURG THALM/SH SH raised their price objective on shares of Corvus Pharmaceuticals from $12.00 to $21.00 and gave the company a “buy” rating in a research note on Monday, September 16th. One investment analyst has rated the stock with a sell rating, three have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Corvus Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average price target of $12.83.

Corvus Pharmaceuticals Trading Down 9.2 %

The firm has a market capitalization of $530.15 million, a P/E ratio of -8.94 and a beta of 1.05. The business’s 50 day simple moving average is $7.57 and its two-hundred day simple moving average is $4.57.

Hedge Funds Weigh In On Corvus Pharmaceuticals

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Nwam LLC bought a new position in Corvus Pharmaceuticals during the 3rd quarter valued at about $53,000. XTX Topco Ltd bought a new position in Corvus Pharmaceuticals during the 3rd quarter valued at about $74,000. Virtu Financial LLC bought a new position in Corvus Pharmaceuticals during the 3rd quarter valued at about $83,000. Oppenheimer & Co. Inc. bought a new position in Corvus Pharmaceuticals during the 3rd quarter valued at about $89,000. Finally, Cubist Systematic Strategies LLC bought a new position in Corvus Pharmaceuticals during the 2nd quarter valued at about $44,000. 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.