Corvus Pharmaceuticals (NASDAQ:CRVS) Stock Rating Lowered by StockNews.com

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

Other equities analysts have also recently issued reports about the company. Mizuho raised Corvus Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 22nd. LADENBURG THALM/SH SH raised their price target on Corvus Pharmaceuticals from $12.00 to $21.00 and gave the company a “buy” rating in a report on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $10.83.

Corvus Pharmaceuticals Trading Up 2.9 %

Shares of CRVS opened at $9.10 on Thursday. Corvus Pharmaceuticals has a 1 year low of $1.21 and a 1 year high of $9.28. The stock has a 50 day simple moving average of $5.88 and a 200-day simple moving average of $3.53. The stock has a market cap of $569.21 million, a PE ratio of -20.22 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, topping analysts’ consensus estimates of ($0.12) by $0.05. During the same period last year, the firm earned ($0.14) earnings per share. On average, sell-side analysts forecast that Corvus Pharmaceuticals will post -0.45 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Avity Investment Management Inc. boosted its position in Corvus Pharmaceuticals by 138.2% in the 3rd quarter. Avity Investment Management Inc. now owns 27,580 shares of the company’s stock valued at $146,000 after buying an additional 16,000 shares during the last quarter. Cubist Systematic Strategies LLC bought a new position in Corvus Pharmaceuticals in the 2nd quarter valued at $44,000. Point72 Asset Management L.P. bought a new position in Corvus Pharmaceuticals in the 2nd quarter valued at $10,855,000. Marshall Wace LLP bought a new position in Corvus Pharmaceuticals in the 2nd quarter valued at $136,000. Finally, Samlyn Capital LLC boosted its position 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 buying an additional 3,774,658 shares during the last quarter. 46.64% of the stock is currently owned by institutional investors.

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.