Corvus Pharmaceuticals (NASDAQ:CRVS) Stock Price Down 7.6% – Time to Sell?

Shares of Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) traded down 7.6% on Friday . The company traded as low as $16.13 and last traded at $16.20. 685,615 shares were traded during mid-day trading, a decline of 87% from the average session volume of 5,160,725 shares. The stock had previously closed at $17.53.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on CRVS shares. Mizuho set a $30.00 target price on Corvus Pharmaceuticals in a research report on Thursday, January 29th. Wall Street Zen raised shares of Corvus Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Jefferies Financial Group raised their target price on shares of Corvus Pharmaceuticals from $13.00 to $42.00 and gave the company a “buy” rating in a research note on Thursday, January 22nd. Cantor Fitzgerald reissued an “overweight” rating on shares of Corvus Pharmaceuticals in a research report on Thursday, December 11th. Finally, Oppenheimer upped their price target on shares of Corvus Pharmaceuticals from $15.00 to $32.00 and gave the company an “outperform” rating in a report on Wednesday, January 21st. Six research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Corvus Pharmaceuticals has a consensus rating of “Moderate Buy” and an average target price of $31.80.

Corvus Pharmaceuticals Stock Performance

The stock has a market capitalization of $1.39 billion, a price-to-earnings ratio of -31.26 and a beta of 0.73. The company’s 50 day moving average is $13.64 and its 200 day moving average is $9.30.

Institutional Investors Weigh In On Corvus Pharmaceuticals

Several hedge funds have recently made changes to their positions in the stock. Invesco Ltd. grew its position in Corvus Pharmaceuticals by 12.7% during the fourth quarter. Invesco Ltd. now owns 43,583 shares of the company’s stock worth $336,000 after buying an additional 4,910 shares in the last quarter. Virtus Investment Advisers LLC lifted its position in shares of Corvus Pharmaceuticals by 18.4% in the 4th quarter. Virtus Investment Advisers LLC now owns 31,783 shares of the company’s stock worth $245,000 after acquiring an additional 4,946 shares during the period. Wellington Management Group LLP lifted its position in shares of Corvus Pharmaceuticals by 74.7% in the 4th quarter. Wellington Management Group LLP now owns 314,683 shares of the company’s stock worth $2,423,000 after acquiring an additional 134,508 shares during the period. Millennium Management LLC acquired a new stake in shares of Corvus Pharmaceuticals during the 4th quarter worth approximately $5,304,000. Finally, Logos Global Management LP bought a new stake in shares of Corvus Pharmaceuticals during the fourth quarter valued at approximately $3,850,000. Institutional investors own 46.64% of the company’s stock.

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.