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

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

CRVS has been the subject of several other research reports. HC Wainwright reissued a “buy” rating and issued a $11.00 price target on shares of Corvus Pharmaceuticals in a research report on Wednesday, March 26th. Oppenheimer reissued an “outperform” rating and issued a $17.00 price target (up previously from $15.00) on shares of Corvus Pharmaceuticals in a research report on Friday, May 9th. Finally, Mizuho decreased their price target on shares of Corvus Pharmaceuticals from $12.00 to $11.00 and set an “outperform” rating for the company in a research report on Tuesday. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $15.00.

Corvus Pharmaceuticals Stock Down 1.4%

Shares of CRVS stock opened at $3.63 on Tuesday. Corvus Pharmaceuticals has a 52 week low of $1.75 and a 52 week high of $10.00. The stock has a market capitalization of $247.45 million, a PE ratio of -3.90 and a beta of 0.67. The firm has a 50 day moving average of $3.50 and a two-hundred day moving average of $5.22.

Corvus Pharmaceuticals (NASDAQ:CRVS) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.13) EPS for the quarter, meeting the consensus estimate of ($0.13). Analysts expect that Corvus Pharmaceuticals will post -0.63 EPS for the current fiscal year.

Institutional Trading of Corvus Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. OMERS ADMINISTRATION Corp raised its stake in Corvus Pharmaceuticals by 9.0% in the first quarter. OMERS ADMINISTRATION Corp now owns 82,300 shares of the company’s stock valued at $262,000 after buying an additional 6,800 shares in the last quarter. Jump Financial LLC acquired a new stake in Corvus Pharmaceuticals in the first quarter valued at $143,000. Wellington Management Group LLP acquired a new stake in Corvus Pharmaceuticals in the first quarter valued at $333,000. American Century Companies Inc. raised its stake in Corvus Pharmaceuticals by 103.9% in the first quarter. American Century Companies Inc. now owns 89,265 shares of the company’s stock valued at $284,000 after buying an additional 45,491 shares in the last quarter. Finally, Towerview LLC raised its stake in Corvus Pharmaceuticals by 64.5% in the first quarter. Towerview LLC now owns 127,500 shares of the company’s stock valued at $405,000 after buying an additional 50,000 shares in the last quarter. 46.64% of the stock is currently owned by institutional investors and hedge funds.

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.