Corvus Pharmaceuticals (NASDAQ:CRVS) Stock Rating Lowered by Zacks Investment Research

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

Several other analysts also recently weighed in on the company. Roth Capital began coverage on Forty Seven in a research note on Wednesday, May 29th. They set a “buy” rating and a $28.00 target price for the company. Wedbush decreased their target price on Hercules Capital from $15.00 to $13.50 and set a “hold” rating for the company in a research note on Wednesday, March 13th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $9.19.



Shares of CRVS traded down $0.22 during trading hours on Tuesday, hitting $5.38. 9,484 shares of the company were exchanged, compared to its average volume of 125,834. The company’s 50 day simple moving average is $4.10. Corvus Pharmaceuticals has a 52 week low of $3.22 and a 52 week high of $11.38. The company has a debt-to-equity ratio of 0.03, a quick ratio of 12.39 and a current ratio of 12.39.

Corvus Pharmaceuticals (NASDAQ:CRVS) last announced its earnings results on Thursday, May 9th. The company reported ($0.40) earnings per share for the quarter, meeting the consensus estimate of ($0.40). On average, research analysts predict that Corvus Pharmaceuticals will post -1.61 earnings per share for the current year.

In other news, Director Orbimed Advisors Llc purchased 657,344 shares of the business’s stock in a transaction on Monday, July 1st. The stock was purchased at an average price of $3.72 per share, with a total value of $2,445,319.68. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Peter A. Thompson purchased 32,923 shares of the business’s stock in a transaction on Thursday, June 27th. The stock was purchased at an average cost of $3.34 per share, with a total value of $109,962.82. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 730,534 shares of company stock valued at $2,695,804. Insiders own 40.40% of the company’s stock.

Institutional investors have recently bought and sold shares of the business. Puissance Capital Management LP acquired a new position in Corvus Pharmaceuticals in the 4th quarter valued at approximately $1,045,000. Raymond James Trust N.A. acquired a new position in shares of Corvus Pharmaceuticals in the 1st quarter worth approximately $53,000. Dimensional Fund Advisors LP raised its holdings in shares of Corvus Pharmaceuticals by 29.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 336,327 shares of the company’s stock worth $1,234,000 after buying an additional 75,626 shares in the last quarter. Telemetry Investments L.L.C. acquired a new position in shares of Corvus Pharmaceuticals in the 4th quarter worth approximately $496,000. Finally, Paloma Partners Management Co acquired a new position in shares of Corvus Pharmaceuticals in the 4th quarter worth approximately $58,000. 84.46% of the stock is owned by hedge funds and other institutional investors.

Corvus Pharmaceuticals Company Profile

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.

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