Corvus Pharmaceuticals (NASDAQ:CRVS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Monday, Zacks.com reports.

According to Zacks, “Corvus Pharmaceuticals, Inc. is a biopharmaceutical company. It focuses on the development and commercialization of immuno-oncology therapies to harness the immune system to attack cancer cells. Its products include CPI-444, Adenosine production inhibitor, Adenosine A2B antagonist and Interleukin-2 (IL-2)-inducible T cell kinase (ITK) inhibitors. Corvus Pharmaceuticals, Inc. is based in Burlingame, California. “

CRVS has been the topic of several other reports. Wedbush lowered their price target on shares of Corvus Pharmaceuticals from $19.00 to $11.00 and set an “outperform” rating on the stock in a report on Wednesday, March 13th. Roth Capital began coverage on shares of Corvus Pharmaceuticals in a report on Wednesday, May 29th. They issued a “buy” rating and a $6.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $9.19.

Corvus Pharmaceuticals stock opened at $3.47 on Monday. The company has a current ratio of 12.39, a quick ratio of 12.39 and a debt-to-equity ratio of 0.03. Corvus Pharmaceuticals has a twelve month low of $3.22 and a twelve month high of $13.91.

Corvus Pharmaceuticals (NASDAQ:CRVS) last released its quarterly earnings results on Thursday, May 9th. The company reported ($0.40) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.40). Analysts predict that Corvus Pharmaceuticals will post -1.61 earnings per share for the current fiscal year.

In other Corvus Pharmaceuticals news, insider Richard A. Md Miller bought 15,212 shares of the firm’s stock in a transaction on Tuesday, June 11th. The shares were purchased at an average price of $3.49 per share, for a total transaction of $53,089.88. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Richard A. Md Miller bought 9,212 shares of the firm’s stock in a transaction on Friday, June 7th. The shares were acquired at an average price of $3.37 per share, for a total transaction of $31,044.44. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 39,924 shares of company stock worth $139,314. Company insiders own 39.50% of the company’s stock.

Large investors have recently made changes to their positions in the business. Raymond James Trust N.A. acquired a new position in shares of Corvus Pharmaceuticals during the 1st quarter worth approximately $53,000. Paloma Partners Management Co acquired a new stake in shares of Corvus Pharmaceuticals during the 4th quarter worth approximately $58,000. Rhumbline Advisers boosted its position in shares of Corvus Pharmaceuticals by 44.1% during the 4th quarter. Rhumbline Advisers now owns 18,203 shares of the company’s stock worth $67,000 after acquiring an additional 5,570 shares in the last quarter. State of Wisconsin Investment Board boosted its position in shares of Corvus Pharmaceuticals by 29.4% during the 1st quarter. State of Wisconsin Investment Board now owns 18,500 shares of the company’s stock worth $74,000 after acquiring an additional 4,200 shares in the last quarter. Finally, Prudential Financial Inc. boosted its position in shares of Corvus Pharmaceuticals by 15.0% during the 4th quarter. Prudential Financial Inc. now owns 21,545 shares of the company’s stock worth $79,000 after acquiring an additional 2,805 shares in the last quarter. Hedge funds and other institutional investors own 84.46% of the company’s stock.

About Corvus Pharmaceuticals

Corvus Pharmaceuticals, Inc, a clinical stage biopharmaceutical company, focuses on the development and commercialization of immuno-oncology therapies. Its lead product candidate is CPI-444, an oral, small molecule antagonist of the A2A receptor that is in Phase I/Ib clinical trial for adenosine, an immune checkpoint.

Further Reading: Sell-Side Analysts

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