Corvus Pharmaceuticals (NASDAQ:CRVS) Lowered to Sell Rating by Wall Street Zen

Wall Street Zen lowered shares of Corvus Pharmaceuticals (NASDAQ:CRVS) from a hold rating to a sell rating in a report released on Saturday.

CRVS has been the subject of several other reports. Mizuho set a $30.00 price objective on shares of Corvus Pharmaceuticals in a research note on Thursday, January 29th. Weiss Ratings raised shares of Corvus Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, April 29th. HC Wainwright lifted their price target on shares of Corvus Pharmaceuticals from $11.00 to $27.00 and gave the stock a “buy” rating in a research note on Tuesday, January 20th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Corvus Pharmaceuticals in a report on Friday, March 13th. Finally, Jefferies Financial Group increased their price objective on shares of Corvus Pharmaceuticals from $13.00 to $42.00 and gave the stock a “buy” rating in a research report on Thursday, January 22nd. Seven investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Corvus Pharmaceuticals has an average rating of “Moderate Buy” and an average price target of $33.33.

Corvus Pharmaceuticals Price Performance

Shares of CRVS stock opened at $15.55 on Friday. The company has a market cap of $1.31 billion, a PE ratio of -29.90 and a beta of 0.94. Corvus Pharmaceuticals has a 1 year low of $3.38 and a 1 year high of $26.95. The stock’s 50 day simple moving average is $15.52 and its two-hundred day simple moving average is $12.83.

Corvus Pharmaceuticals (NASDAQ:CRVS) last announced its earnings results on Thursday, May 7th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.01). Equities research analysts expect that Corvus Pharmaceuticals will post -0.66 EPS for the current year.

Institutional Investors Weigh In On Corvus Pharmaceuticals

Several large investors have recently added to or reduced their stakes in the stock. Orbimed Advisors LLC increased its position in shares of Corvus Pharmaceuticals by 3.2% during the second quarter. Orbimed Advisors LLC now owns 7,165,006 shares of the company’s stock worth $28,660,000 after acquiring an additional 221,352 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Corvus Pharmaceuticals by 5.8% in the third quarter. Vanguard Group Inc. now owns 3,471,925 shares of the company’s stock valued at $25,588,000 after purchasing an additional 191,216 shares during the period. State Street Corp grew its stake in Corvus Pharmaceuticals by 177.1% in the fourth quarter. State Street Corp now owns 2,788,223 shares of the company’s stock worth $21,469,000 after purchasing an additional 1,781,904 shares in the last quarter. MPM Bioimpact LLC bought a new position in Corvus Pharmaceuticals in the fourth quarter worth approximately $21,126,000. Finally, Geode Capital Management LLC increased its holdings in Corvus Pharmaceuticals by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 1,473,026 shares of the company’s stock worth $11,345,000 after purchasing an additional 16,498 shares during the period. 46.64% of the stock is 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.