Corvus Pharmaceuticals (NASDAQ:CRVS) Trading Down 7.8% – Time to Sell?

by · The Markets Daily

Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS – Get Free Report)’s stock price fell 7.8% during trading on Monday . The company traded as low as $8.38 and last traded at $8.38. 264,867 shares were traded during mid-day trading, a decline of 31% from the average session volume of 381,395 shares. The stock had previously closed at $9.09.

Analysts Set New Price Targets

A number of brokerages have recently commented on CRVS. Oppenheimer increased their price target on shares of Corvus Pharmaceuticals from $8.00 to $14.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. StockNews.com lowered shares of Corvus Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Thursday, October 31st. LADENBURG THALM/SH SH increased their target price on shares of Corvus Pharmaceuticals from $12.00 to $21.00 and gave the company a “buy” rating in a report on Monday, September 16th. Finally, Mizuho raised shares of Corvus Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $12.83.

View Our Latest Stock Report on Corvus Pharmaceuticals

Corvus Pharmaceuticals Stock Performance

The firm has a market cap of $515.98 million, a PE ratio of -8.90 and a beta of 1.05. The company’s 50-day simple moving average is $7.68 and its two-hundred day simple moving average is $4.65.

Institutional Investors Weigh In On Corvus Pharmaceuticals

Institutional investors and hedge funds have recently modified their holdings of the stock. Cubist Systematic Strategies LLC purchased a new position in Corvus Pharmaceuticals during the 2nd quarter valued at about $44,000. Nwam LLC purchased a new position in Corvus Pharmaceuticals during the 3rd quarter valued at about $53,000. XTX Topco Ltd purchased a new position in Corvus Pharmaceuticals during the 3rd quarter valued at about $74,000. Virtu Financial LLC purchased a new position in Corvus Pharmaceuticals during the 3rd quarter valued at about $83,000. Finally, Oppenheimer & Co. Inc. purchased a new position in Corvus Pharmaceuticals during the 3rd quarter valued at about $89,000. 46.64% of the stock is owned by hedge funds and other institutional investors.

About Corvus Pharmaceuticals

(Get Free Report)

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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