Corvus Pharmaceuticals (NASDAQ:CRVS) Stock Moved Down to Strong Sell by Wall Street Zen

Wall Street Zen lowered shares of Corvus Pharmaceuticals (NASDAQ:CRVS) from a sell rating to a strong sell rating in a research note released on Saturday morning,Wall Street Zen reports.

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

Corvus Pharmaceuticals Stock Up 8.3%

Shares of NASDAQ:CRVS opened at $10.54 on Friday. The stock has a market capitalization of $886.64 million, a PE ratio of -14.84 and a beta of 1.57. The firm’s 50 day moving average price is $11.50 and its 200-day moving average price is $14.36. Corvus Pharmaceuticals has a twelve month low of $6.39 and a twelve month high of $26.95.

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

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Ancora Advisors LLC increased its holdings in Corvus Pharmaceuticals by 3.6% in the 2nd quarter. Ancora Advisors LLC now owns 56,723 shares of the company’s stock worth $847,000 after buying an additional 1,955 shares during the period. Global Retirement Partners LLC purchased a new position in Corvus Pharmaceuticals during the 2nd quarter worth approximately $30,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Corvus Pharmaceuticals during the 2nd quarter valued at approximately $48,000. Avity Investment Management Inc. lifted its stake in Corvus Pharmaceuticals by 11.9% during the 2nd quarter. Avity Investment Management Inc. now owns 37,150 shares of the company’s stock valued at $555,000 after acquiring an additional 3,950 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Corvus Pharmaceuticals in the 3rd quarter valued at $50,000. 46.64% of the stock is currently owned by 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.