Corvus Pharmaceuticals (NASDAQ:CRVS) Upgraded to Hold at StockNews.com

StockNews.com upgraded shares of Corvus Pharmaceuticals (NASDAQ:CRVS) from a sell rating to a hold rating in a report issued on Wednesday.

Separately, 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. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $10.83.

Corvus Pharmaceuticals Stock Down 2.5 %

Shares of CRVS opened at $7.56 on Wednesday. The stock has a market capitalization of $472.89 million, a P/E ratio of -14.54 and a beta of 1.14. The firm has a fifty day simple moving average of $5.25 and a two-hundred day simple moving average of $3.20. Corvus Pharmaceuticals has a twelve month low of $1.05 and a twelve month high of $8.33.

Corvus Pharmaceuticals (NASDAQ:CRVS) last posted its earnings results on Tuesday, August 6th. The company reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.12) by $0.05. During the same quarter in the previous year, the firm earned ($0.14) earnings per share. Sell-side analysts expect that Corvus Pharmaceuticals will post -0.45 EPS for the current fiscal year.

Hedge Funds Weigh In On Corvus Pharmaceuticals

Several hedge funds have recently modified their holdings of the stock. Samlyn Capital LLC lifted its holdings in shares of Corvus Pharmaceuticals by 160.7% in the second quarter. Samlyn Capital LLC now owns 6,123,021 shares of the company’s stock worth $11,144,000 after buying an additional 3,774,658 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in Corvus Pharmaceuticals in the second quarter worth $10,855,000. Vanguard Group Inc. increased its position in Corvus Pharmaceuticals by 10.6% in the first quarter. Vanguard Group Inc. now owns 1,493,357 shares of the company’s stock worth $2,658,000 after purchasing an additional 142,724 shares during the last quarter. Towerview LLC increased its position in Corvus Pharmaceuticals by 4.6% in the second quarter. Towerview LLC now owns 400,000 shares of the company’s stock worth $728,000 after purchasing an additional 17,500 shares during the last quarter. Finally, Marshall Wace LLP bought a new stake in Corvus Pharmaceuticals in the second quarter worth $136,000. Hedge funds and other institutional investors own 46.64% of the company’s stock.

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.