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

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

CRVS has been the topic of a number of other research reports. Oppenheimer reissued 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. HC Wainwright reaffirmed a “buy” rating and set a $11.00 price objective on shares of Corvus Pharmaceuticals in a research report on Wednesday, March 26th. Finally, Mizuho lowered their target price on Corvus Pharmaceuticals from $12.00 to $11.00 and set an “outperform” rating on the stock in a research note on Tuesday. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $15.00.

Corvus Pharmaceuticals Trading Up 1.7%

Shares of CRVS opened at $3.68 on Tuesday. The company’s 50 day simple moving average is $3.52 and its 200-day simple moving average is $5.24. The firm has a market cap of $250.86 million, a PE ratio of -3.96 and a beta of 0.67. Corvus Pharmaceuticals has a 12-month low of $1.75 and a 12-month high of $10.00.

Corvus Pharmaceuticals (NASDAQ:CRVS) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.13) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.13). As a group, equities research analysts forecast that Corvus Pharmaceuticals will post -0.63 EPS for the current fiscal year.

Institutional Trading of Corvus Pharmaceuticals

Several hedge funds have recently made changes to their positions in the company. Sowell Financial Services LLC acquired a new position in shares of Corvus Pharmaceuticals during the first quarter worth about $38,000. Virtus ETF Advisers LLC purchased a new stake in Corvus Pharmaceuticals in the 4th quarter valued at approximately $47,000. PKS Advisory Services LLC acquired a new position in Corvus Pharmaceuticals during the 4th quarter worth approximately $56,000. Alpine Global Management LLC purchased a new position in shares of Corvus Pharmaceuticals during the 4th quarter worth approximately $62,000. Finally, ExodusPoint Capital Management LP purchased a new position in shares of Corvus Pharmaceuticals during the 4th quarter worth approximately $72,000. Institutional investors and hedge funds 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.