Corvus Pharmaceuticals (NASDAQ:CRVS) Cut to “Sell” at Wall Street Zen

by · The Cerbat Gem

Wall Street Zen cut shares of Corvus Pharmaceuticals (NASDAQ:CRVS – Free Report) from a hold rating to a sell rating in a research note issued to investors on Saturday morning.

CRVS has been the topic of a number of other research reports. HC Wainwright raised their target price on shares of Corvus Pharmaceuticals from $11.00 to $27.00 and gave the company a “buy” rating in a research report on Tuesday, January 20th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Corvus Pharmaceuticals in a report on Friday. Jefferies Financial Group increased their price target on Corvus Pharmaceuticals from $13.00 to $42.00 and gave the company a “buy” rating in a research note on Thursday, January 22nd. Weiss Ratings reissued a “sell (d-)” rating on shares of Corvus Pharmaceuticals in a report on Wednesday, January 21st. Finally, Barclays boosted their price objective on Corvus Pharmaceuticals from $16.00 to $28.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 20th. Six 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, Corvus Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.00.

View Our Latest Stock Analysis on Corvus Pharmaceuticals

Corvus Pharmaceuticals Trading Up 2.6%

CRVS stock opened at $15.72 on Friday. The firm has a 50-day moving average price of $16.64 and a 200-day moving average price of $10.68. Corvus Pharmaceuticals has a 12 month low of $2.54 and a 12 month high of $26.95. The stock has a market capitalization of $1.32 billion, a P/E ratio of -31.44 and a beta of 0.79.

Corvus Pharmaceuticals (NASDAQ:CRVS – Get Free Report) last announced its quarterly earnings results on Thursday, March 12th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.01). As a group, equities analysts predict that Corvus Pharmaceuticals will post -0.63 EPS for the current fiscal year.

Hedge Funds Weigh In On Corvus Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. GSA Capital Partners LLP raised its stake in shares of Corvus Pharmaceuticals by 25.9% during the third quarter. GSA Capital Partners LLP now owns 401,407 shares of the company’s stock valued at $2,958,000 after acquiring an additional 82,675 shares during the last quarter. BML Capital Management LLC bought a new stake in shares of Corvus Pharmaceuticals in the second quarter worth $475,000. Foresite Capital Management VI LLC grew its stake in shares of Corvus Pharmaceuticals by 9.5% in the second quarter. Foresite Capital Management VI LLC now owns 1,731,233 shares of the company’s stock worth $6,925,000 after purchasing an additional 150,000 shares during the last quarter. Police & Firemen s Retirement System of New Jersey acquired a new stake in Corvus Pharmaceuticals in the second quarter valued at $49,000. Finally, NEOS Investment Management LLC acquired a new stake in Corvus Pharmaceuticals in the third quarter valued at $436,000. 46.64% of the stock is currently owned by institutional investors and hedge funds.

About Corvus Pharmaceuticals

(Get Free Report)

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.

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