Corvus Pharmaceuticals (NASDAQ:CRVS) Rating Lowered to “Strong Sell” at Wall Street Zen

Corvus Pharmaceuticals (NASDAQ:CRVS) was downgraded by research analysts at Wall Street Zen from a “sell” rating to a “strong sell” rating in a report issued on Saturday, Wall Street Zen reports.

A number of other research firms also recently weighed in on CRVS. Cantor Fitzgerald reiterated an “overweight” rating on shares of Corvus Pharmaceuticals in a report on Wednesday, September 16th. LADENBURG THALM/SH SH raised Corvus Pharmaceuticals to a “strong-buy” rating in a research report on Thursday, July 30th. Mizuho set a $27.00 target price on Corvus Pharmaceuticals in a research note on Thursday, October 29th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Corvus Pharmaceuticals in a research report on Monday, October 26th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $32.83.

Corvus Pharmaceuticals Price Performance

Shares of NASDAQ CRVS opened at $10.54 on Friday. Corvus Pharmaceuticals has a 1 year low of $6.39 and a 1 year high of $26.95. The company’s 50-day moving average is $11.50 and its 200 day moving average is $14.36. The stock has a market capitalization of $886.62 million, a P/E ratio of -14.84 and a beta of 1.57.

Corvus Pharmaceuticals (NASDAQ:CRVS) last released its quarterly earnings results on Thursday, November 5th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.03). Research analysts anticipate that Corvus Pharmaceuticals will post -0.79 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of CRVS. The Manufacturers Life Insurance Company boosted its stake in Corvus Pharmaceuticals by 481.7% during the first quarter. The Manufacturers Life Insurance Company now owns 101,779 shares of the company’s stock worth $1,489,000 after acquiring an additional 84,282 shares in the last quarter. DCF Advisers LLC purchased a new stake in Corvus Pharmaceuticals in the second quarter worth about $9,524,000. Blue Owl Capital Holdings LP bought a new position in shares of Corvus Pharmaceuticals during the second quarter valued at approximately $9,092,000. Renaissance Technologies LLC bought a new position in shares of Corvus Pharmaceuticals during the first quarter valued at approximately $1,190,000. Finally, Bank of America Corp DE purchased a new position in shares of Corvus Pharmaceuticals during the second quarter valued at approximately $11,322,000. 46.64% of the stock is owned by hedge funds and other institutional investors.

About Corvus Pharmaceuticals

Corvus Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on developing medicines that harness the immune system to treat cancer. The company’s research centers on therapies designed to modulate immune-cell activity and address diseases with significant unmet medical needs.

Corvus’ leading product candidate is soquelitinib, formerly known as CPI-818, an oral, selective inhibitor of inducible T-cell kinase (ITK). The company is studying soquelitinib as a potential treatment for T-cell malignancies, including peripheral T-cell lymphoma.