Corvus Pharmaceuticals (NASDAQ:CRVS) Stock Price Down 6.5% – Should You Sell?
by Teresa Graham · The Cerbat GemCorvus Pharmaceuticals, Inc. (NASDAQ:CRVS – Get Free Report)’s share price fell 6.5% during trading on Friday . The company traded as low as $7.16 and last traded at $7.20. 465,204 shares traded hands during trading, a decline of 72% from the average session volume of 1,632,679 shares. The stock had previously closed at $7.70.
Wall Street Analyst Weigh In
A number of brokerages have weighed in on CRVS. Cantor Fitzgerald restated an “overweight” rating on shares of Corvus Pharmaceuticals in a research note on Thursday, December 11th. Mizuho set a $13.00 price objective on shares of Corvus Pharmaceuticals in a report on Wednesday, October 29th. Barclays assumed coverage on shares of Corvus Pharmaceuticals in a research note on Monday, October 13th. They issued an “overweight” rating and a $16.00 target price on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Corvus Pharmaceuticals in a report on Wednesday, October 8th. Finally, Wall Street Zen upgraded Corvus Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Five investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $14.25.
Get Our Latest Analysis on CRVS
Corvus Pharmaceuticals Price Performance
The company has a market cap of $539.04 million, a P/E ratio of -13.67 and a beta of 0.70. The stock has a fifty day moving average price of $8.14 and a two-hundred day moving average price of $6.32.
Corvus Pharmaceuticals (NASDAQ:CRVS – Get Free Report) last posted its quarterly earnings data on Tuesday, November 4th. The company reported ($0.12) earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.02. Equities analysts predict that Corvus Pharmaceuticals, Inc. will post -0.63 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Orbimed Advisors LLC grew its stake in Corvus Pharmaceuticals by 3.2% in the second quarter. Orbimed Advisors LLC now owns 7,165,006 shares of the company’s stock worth $28,660,000 after purchasing an additional 221,352 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Corvus Pharmaceuticals by 5.8% during the 3rd quarter. Vanguard Group Inc. now owns 3,471,925 shares of the company’s stock valued at $25,588,000 after acquiring an additional 191,216 shares during the last quarter. Foresite Capital Management VI LLC grew its position in Corvus Pharmaceuticals by 9.5% in the 2nd 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 period. Perceptive Advisors LLC purchased a new stake in Corvus Pharmaceuticals during the second quarter valued at $5,754,000. Finally, Geode Capital Management LLC grew its stake in shares of Corvus Pharmaceuticals by 130.7% during the 2nd quarter. Geode Capital Management LLC now owns 1,361,740 shares of the company’s stock valued at $5,448,000 after purchasing an additional 771,454 shares during the period. 46.64% of the stock is currently owned by hedge funds and other institutional investors.
Corvus Pharmaceuticals Company Profile
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.