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

StockNews.com upgraded shares of Corvus Pharmaceuticals (NASDAQ:CRVS) from a sell rating to a hold rating in a research note issued to investors on Friday.

Corvus Pharmaceuticals Price Performance

CRVS stock opened at $5.10 on Friday. The stock has a market capitalization of $319.01 million, a price-to-earnings ratio of -9.81 and a beta of 1.13. The business has a fifty day moving average price of $3.35 and a 200 day moving average price of $2.40. Corvus Pharmaceuticals has a fifty-two week low of $1.05 and a fifty-two week high of $5.22.

Corvus Pharmaceuticals (NASDAQ:CRVS) last announced its earnings results on Tuesday, August 6th. The company reported ($0.07) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.05. During the same period last year, the business earned ($0.14) earnings per share. On average, equities analysts expect that Corvus Pharmaceuticals will post -0.45 earnings per share for the current fiscal year.

Institutional Trading of Corvus Pharmaceuticals

Hedge funds have recently modified their holdings of the stock. Point72 Asset Management L.P. bought a new position in Corvus Pharmaceuticals in the 2nd quarter worth approximately $10,855,000. Cubist Systematic Strategies LLC bought a new stake in shares of Corvus Pharmaceuticals during the second quarter worth $44,000. Marshall Wace LLP bought a new stake in shares of Corvus Pharmaceuticals during the second quarter worth $136,000. Samlyn Capital LLC lifted its stake in shares of Corvus Pharmaceuticals by 160.7% during the second quarter. Samlyn Capital LLC now owns 6,123,021 shares of the company’s stock valued at $11,144,000 after acquiring an additional 3,774,658 shares during the period. Finally, Towerview LLC boosted its holdings in Corvus Pharmaceuticals by 4.6% in the second quarter. Towerview LLC now owns 400,000 shares of the company’s stock valued at $728,000 after acquiring an additional 17,500 shares during the last quarter. 46.64% of the stock is owned by institutional investors.

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.