Corvus Pharmaceuticals (NASDAQ:CRVS) Lifted to "Hold" at StockNews.com

Corvus Pharmaceuticals (NASDAQ:CRVS - Get Free Report) was upgraded by equities researchers at StockNews.com from a "sell" rating to a "hold" rating in a research report issued on Wednesday.

Separately, LADENBURG THALM/SH SH raised their price target on Corvus Pharmaceuticals from $12.00 to $21.00 and gave the stock a "buy" rating in a report on Monday, September 16th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $10.83.

Corvus Pharmaceuticals Stock Down 2.5 %

CRVS stock traded down $0.19 during midday trading on Wednesday, hitting $7.56. The company's stock had a trading volume of 1,054,456 shares, compared to its average volume of 307,328. Corvus Pharmaceuticals has a 12 month low of $1.05 and a 12 month high of $8.33. The firm has a market capitalization of $472.89 million, a price-to-earnings ratio of -14.54 and a beta of 1.14. The company has a 50 day moving average of $5.25 and a two-hundred day moving average of $3.20.

Corvus Pharmaceuticals (NASDAQ:CRVS - Get Free Report) last released its quarterly earnings results on Tuesday, August 6th. The company reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.05. During the same period in the previous year, the business posted ($0.14) EPS. On average, analysts anticipate that Corvus Pharmaceuticals will post -0.45 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Avity Investment Management Inc. raised its stake in shares of Corvus Pharmaceuticals by 138.2% during the 3rd quarter. Avity Investment Management Inc. now owns 27,580 shares of the company's stock worth $146,000 after buying an additional 16,000 shares during the period. Cubist Systematic Strategies LLC acquired a new position in shares of Corvus Pharmaceuticals during the 2nd quarter worth approximately $44,000. Point72 Asset Management L.P. acquired a new position in shares of Corvus Pharmaceuticals during the 2nd quarter worth approximately $10,855,000. Marshall Wace LLP acquired a new position in shares of Corvus Pharmaceuticals during the 2nd quarter worth approximately $136,000. Finally, Samlyn Capital LLC raised 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 buying an additional 3,774,658 shares during the period. 46.64% of the stock is owned by institutional investors and hedge funds.

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.

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