Corvus Pharmaceuticals (NASDAQ:CRVS) Lowered to “Sell” Rating by StockNews.com

StockNews.com lowered shares of Corvus Pharmaceuticals (NASDAQ:CRVS) from a hold rating to a sell rating in a research note published on Tuesday morning.

Several other research firms have also recently commented on CRVS. Oppenheimer reiterated an “outperform” rating and set a $17.00 price target (up previously from $15.00) on shares of Corvus Pharmaceuticals in a report on Friday, May 9th. Mizuho decreased their price objective 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. Finally, HC Wainwright reiterated a “buy” rating and set a $11.00 target price on shares of Corvus Pharmaceuticals in a research note on Wednesday, March 26th. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Corvus Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus price target of $15.00.

Corvus Pharmaceuticals Price Performance

CRVS opened at $3.68 on Tuesday. The business has a fifty day moving average price of $3.52 and a 200 day moving average price of $5.24. Corvus Pharmaceuticals has a 12 month low of $1.75 and a 12 month high of $10.00. The stock has a market capitalization of $250.86 million, a price-to-earnings ratio of -3.96 and a beta of 0.67.

Corvus Pharmaceuticals (NASDAQ:CRVS) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.13) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.13). On average, research analysts anticipate that Corvus Pharmaceuticals will post -0.63 earnings per share for the current year.

Hedge Funds Weigh In On Corvus Pharmaceuticals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC raised its holdings in Corvus Pharmaceuticals by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 566,863 shares of the company’s stock worth $3,034,000 after purchasing an additional 3,854 shares in the last quarter. Renaissance Technologies LLC grew its position in shares of Corvus Pharmaceuticals by 1.1% in the 4th quarter. Renaissance Technologies LLC now owns 390,688 shares of the company’s stock valued at $2,090,000 after buying an additional 4,100 shares during the last quarter. Oppenheimer & Co. Inc. raised its stake in Corvus Pharmaceuticals by 24.9% during the 1st quarter. Oppenheimer & Co. Inc. now owns 22,534 shares of the company’s stock worth $72,000 after acquiring an additional 4,490 shares in the last quarter. Masso Torrence Wealth Management Inc. lifted its position in Corvus Pharmaceuticals by 16.7% in the first quarter. Masso Torrence Wealth Management Inc. now owns 35,000 shares of the company’s stock valued at $111,000 after acquiring an additional 5,000 shares during the last quarter. Finally, Nwam LLC lifted its position in Corvus Pharmaceuticals by 54.2% in the fourth quarter. Nwam LLC now owns 15,500 shares of the company’s stock valued at $83,000 after acquiring an additional 5,450 shares during the last quarter. 46.64% of the stock is owned by institutional investors and hedge funds.

Corvus Pharmaceuticals Company Profile

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.