Corvus Pharmaceuticals (NASDAQ:CRVS) Trading Down 4.3% – Time to Sell?

Shares of Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) fell 4.3% during mid-day trading on Wednesday . The stock traded as low as $14.50 and last traded at $14.5880. 116,682 shares were traded during trading, a decline of 96% from the average session volume of 3,078,846 shares. The stock had previously closed at $15.25.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Mizuho set a $30.00 price objective on shares of Corvus Pharmaceuticals in a report on Thursday, January 29th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Corvus Pharmaceuticals in a report on Wednesday, January 21st. Jefferies Financial Group increased their price objective on shares of Corvus Pharmaceuticals from $13.00 to $42.00 and gave the company a “buy” rating in a report on Thursday, January 22nd. Oppenheimer reaffirmed an “outperform” rating and set a $33.00 price objective (up from $32.00) on shares of Corvus Pharmaceuticals in a report on Friday, March 13th. Finally, HC Wainwright increased their price objective on shares of Corvus Pharmaceuticals from $11.00 to $27.00 and gave the company a “buy” rating in a report on Tuesday, January 20th. Seven research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $33.33.

Corvus Pharmaceuticals Price Performance

The company’s fifty day simple moving average is $16.21 and its 200-day simple moving average is $11.96. The firm has a market capitalization of $1.26 billion, a PE ratio of -30.08 and a beta of 0.97.

Corvus Pharmaceuticals (NASDAQ:CRVS) last posted its quarterly earnings results on Thursday, March 12th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.01). Analysts forecast that Corvus Pharmaceuticals, Inc. will post -0.63 earnings per share for the current year.

Hedge Funds Weigh In On Corvus Pharmaceuticals

Hedge funds and other institutional investors have recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Corvus Pharmaceuticals by 26.0% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,629 shares of the company’s stock worth $28,000 after buying an additional 748 shares in the last quarter. Quarry LP purchased a new position in shares of Corvus Pharmaceuticals in the third quarter worth about $27,000. Russell Investments Group Ltd. purchased a new position in shares of Corvus Pharmaceuticals in the third quarter worth about $49,000. Truvestments Capital LLC lifted its stake in shares of Corvus Pharmaceuticals by 86.1% in the fourth quarter. Truvestments Capital LLC now owns 10,257 shares of the company’s stock worth $79,000 after buying an additional 4,744 shares in the last quarter. Finally, Captrust Financial Advisors purchased a new position in shares of Corvus Pharmaceuticals in the fourth quarter worth about $85,000. 46.64% of the stock is owned by hedge funds and other institutional investors.

About Corvus Pharmaceuticals

Corvus Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of next-generation immuno-oncology therapies. The company’s research efforts are centered on harnessing both the innate and adaptive immune systems to counteract tumor-driven immunosuppression. By targeting key pathways that regulate immune cell function, Corvus aims to create novel agents that can be combined with existing cancer treatments to improve patient outcomes.

Corvus’s lead pipeline candidates include small-molecule and antibody therapies designed to inhibit the adenosine pathway, a known mediator of tumor immune escape.