Wall Street Zen Downgrades Corvus Pharmaceuticals (NASDAQ:CRVS) to Sell

Corvus Pharmaceuticals (NASDAQ:CRVS) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Saturday.

Several other equities analysts have also commented on CRVS. Barclays initiated coverage on Corvus Pharmaceuticals in a research report on Monday, October 13th. They set an “overweight” rating and a $16.00 price objective on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Corvus Pharmaceuticals in a research report on Wednesday, October 8th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $13.75.

Corvus Pharmaceuticals Stock Performance

Corvus Pharmaceuticals stock opened at $7.04 on Friday. Corvus Pharmaceuticals has a fifty-two week low of $2.54 and a fifty-two week high of $10.00. The stock has a market cap of $524.55 million, a P/E ratio of -6.97 and a beta of 0.57. The firm’s fifty day moving average price is $6.14 and its 200-day moving average price is $4.64.

Corvus Pharmaceuticals (NASDAQ:CRVS) last released its earnings results on Thursday, August 7th. The company reported ($0.10) EPS for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.03. On average, analysts predict that Corvus Pharmaceuticals will post -0.63 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Orbimed Advisors LLC grew its position in shares of Corvus Pharmaceuticals by 3.2% in the 2nd quarter. Orbimed Advisors LLC now owns 7,165,006 shares of the company’s stock worth $28,660,000 after buying an additional 221,352 shares during the last quarter. Foresite Capital Management VI LLC lifted its stake in Corvus Pharmaceuticals by 9.5% in the second quarter. Foresite Capital Management VI LLC now owns 1,731,233 shares of the company’s stock worth $6,925,000 after acquiring an additional 150,000 shares during the period. Perceptive Advisors LLC bought a new stake in Corvus Pharmaceuticals in the second quarter valued at $5,754,000. Geode Capital Management LLC boosted its holdings in Corvus Pharmaceuticals by 130.7% in the second quarter. Geode Capital Management LLC now owns 1,361,740 shares of the company’s stock valued at $5,448,000 after acquiring an additional 771,454 shares in the last quarter. Finally, Marshall Wace LLP raised its holdings in Corvus Pharmaceuticals by 30.3% in the 2nd quarter. Marshall Wace LLP now owns 201,651 shares of the company’s stock worth $807,000 after purchasing an additional 46,880 shares in the last quarter. 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.