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

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

A number of other brokerages also recently weighed in on CRVS. Mizuho raised Corvus Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 22nd. LADENBURG THALM/SH SH boosted their price target on Corvus Pharmaceuticals from $12.00 to $21.00 and gave the stock a “buy” rating in a research report on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $10.83.

Corvus Pharmaceuticals Price Performance

CRVS opened at $9.10 on Thursday. The business’s 50-day moving average price is $5.88 and its two-hundred day moving average price is $3.53. Corvus Pharmaceuticals has a 1 year low of $1.21 and a 1 year high of $9.28. The company has a market capitalization of $569.21 million, a price-to-earnings ratio of -20.22 and a beta of 1.14.

Corvus Pharmaceuticals (NASDAQ:CRVS) last released its earnings results on Tuesday, August 6th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.05. During the same period last year, the company posted ($0.14) earnings per share. Sell-side analysts anticipate that Corvus Pharmaceuticals will post -0.45 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Corvus Pharmaceuticals

A number of institutional investors have recently made changes to their positions in CRVS. Vanguard Group Inc. boosted its holdings in shares of Corvus Pharmaceuticals by 10.6% during the first quarter. Vanguard Group Inc. now owns 1,493,357 shares of the company’s stock worth $2,658,000 after acquiring an additional 142,724 shares during the period. Towerview LLC boosted its holdings in shares of Corvus Pharmaceuticals by 4.6% during the second quarter. Towerview LLC now owns 400,000 shares of the company’s stock worth $728,000 after acquiring an additional 17,500 shares during the period. Samlyn Capital LLC boosted its stake 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 valued at $11,144,000 after buying an additional 3,774,658 shares during the period. Marshall Wace LLP bought a new stake in shares of Corvus Pharmaceuticals in the second quarter valued at approximately $136,000. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of Corvus Pharmaceuticals in the second quarter valued at approximately $44,000. 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.