Corvus Pharmaceuticals (NASDAQ:CRVS) Stock Price Down 12.5% – What’s Next?

Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) shares traded down 12.5% during mid-day trading on Thursday . The stock traded as low as $13.51 and last traded at $13.8650. 572,110 shares changed hands during trading, a decline of 79% from the average session volume of 2,694,258 shares. The stock had previously closed at $15.84.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Wall Street Zen lowered Corvus Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Cantor Fitzgerald restated an “overweight” rating on shares of Corvus Pharmaceuticals in a research note on Friday, March 13th. The Goldman Sachs Group assumed coverage on Corvus Pharmaceuticals in a research note on Friday, April 17th. They set a “buy” rating and a $40.00 price target on the stock. Mizuho set a $30.00 price target on Corvus Pharmaceuticals in a research note on Thursday, January 29th. Finally, Jefferies Financial Group lifted their price objective on Corvus Pharmaceuticals from $13.00 to $42.00 and gave the company a “buy” rating in a report on Thursday, January 22nd. Seven equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $33.33.

Corvus Pharmaceuticals Stock Down 14.9%

The business has a fifty day simple moving average of $15.33 and a two-hundred day simple moving average of $13.07. The company has a market capitalization of $1.13 billion, a price-to-earnings ratio of -26.27 and a beta of 0.94.

Corvus Pharmaceuticals (NASDAQ:CRVS) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.01). As a group, equities analysts predict that Corvus Pharmaceuticals, Inc. will post -0.66 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Corvus Pharmaceuticals by 26.0% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,629 shares of the company’s stock worth $28,000 after acquiring an additional 748 shares in the last quarter. ProShare Advisors LLC boosted its holdings in shares of Corvus Pharmaceuticals by 7.7% in the 4th quarter. ProShare Advisors LLC now owns 13,764 shares of the company’s stock worth $106,000 after acquiring an additional 979 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Corvus Pharmaceuticals by 5.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 34,105 shares of the company’s stock worth $263,000 after acquiring an additional 1,696 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Corvus Pharmaceuticals by 6.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 32,232 shares of the company’s stock worth $238,000 after acquiring an additional 1,812 shares in the last quarter. Finally, Shelton Wealth Management LLC boosted its holdings in shares of Corvus Pharmaceuticals by 13.8% in the 4th quarter. Shelton Wealth Management LLC now owns 15,638 shares of the company’s stock worth $120,000 after acquiring an additional 1,896 shares in the last quarter. 46.64% of the stock is owned by institutional investors and hedge funds.

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.