Corvus Pharmaceuticals (NASDAQ:CRVS) Lowered to "Sell" Rating by StockNews.com

Corvus Pharmaceuticals (NASDAQ:CRVS - Get Free Report) was downgraded by research analysts at StockNews.com from a "hold" rating to a "sell" rating in a research note issued on Thursday.

A number of other equities research analysts have also commented on the company. 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 lifted their target price on Corvus Pharmaceuticals from $12.00 to $21.00 and gave the company a "buy" rating in a research report on Monday, September 16th. One analyst has rated the stock with a sell rating, three have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $10.83.

Corvus Pharmaceuticals Stock Performance

CRVS traded up $0.04 during midday trading on Thursday, reaching $8.84. 538,689 shares of the company were exchanged, compared to its average volume of 330,347. Corvus Pharmaceuticals has a one year low of $1.08 and a one year high of $9.19. The stock has a market capitalization of $552.95 million, a P/E ratio of -16.92 and a beta of 1.14. The stock's 50-day simple moving average is $5.69 and its 200 day simple moving average is $3.44.

Corvus Pharmaceuticals (NASDAQ:CRVS - Get Free Report) last issued its earnings results on Tuesday, August 6th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.12) by $0.05. During the same period in the prior year, the firm posted ($0.14) EPS. On average, research analysts anticipate that Corvus Pharmaceuticals will post -0.45 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of CRVS. Point72 Asset Management L.P. bought a new position in Corvus Pharmaceuticals in the second quarter valued at approximately $10,855,000. Samlyn Capital LLC boosted its stake in shares of Corvus Pharmaceuticals by 160.7% during the 2nd quarter. Samlyn Capital LLC now owns 6,123,021 shares of the company's stock worth $11,144,000 after acquiring an additional 3,774,658 shares during the period. Vanguard Group Inc. boosted its stake in shares of Corvus Pharmaceuticals by 10.6% during the 1st 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. Marshall Wace LLP bought a new position in shares of Corvus Pharmaceuticals during the 2nd quarter worth approximately $136,000. Finally, Cubist Systematic Strategies LLC bought a new position in shares of Corvus Pharmaceuticals during the 2nd quarter worth approximately $44,000. 46.64% of the stock is currently 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.