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

Zacks Investment Research lowered shares of Corvus Pharmaceuticals (NASDAQ:CRVS) from a hold rating to a sell rating in a report published on Monday morning, 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. “

A number of other analysts have also recently commented on CRVS. ValuEngine upgraded Corvus Pharmaceuticals from a hold rating to a buy rating in a research report on Thursday, April 2nd. Mizuho reiterated a buy rating and set a $7.00 price objective on shares of Corvus Pharmaceuticals in a research report on Friday, May 1st. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of Buy and an average target price of $7.25.

Shares of CRVS stock opened at $3.81 on Monday. Corvus Pharmaceuticals has a fifty-two week low of $1.01 and a fifty-two week high of $6.88. The business has a fifty day simple moving average of $3.36 and a 200-day simple moving average of $3.59. The company has a debt-to-equity ratio of 0.03, a quick ratio of 5.96 and a current ratio of 5.96.

Corvus Pharmaceuticals (NASDAQ:CRVS) last announced its quarterly earnings results on Thursday, April 30th. The company reported ($0.44) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.04). On average, sell-side analysts expect that Corvus Pharmaceuticals will post -1.19 EPS for the current year.

In related news, major shareholder Holdings A/S Novo sold 1,538,062 shares of Corvus Pharmaceuticals stock in a transaction dated Wednesday, July 8th. The stock was sold at an average price of $5.31, for a total transaction of $8,167,109.22. Following the completion of the sale, the insider now owns 2,130,938 shares in the company, valued at approximately $11,315,280.78. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 45.12% of the company’s stock.

Large investors have recently modified their holdings of the business. Squarepoint Ops LLC acquired a new stake in Corvus Pharmaceuticals in the 1st quarter worth about $52,000. Renaissance Technologies LLC boosted its stake in Corvus Pharmaceuticals by 6.4% in the 4th quarter. Renaissance Technologies LLC now owns 906,200 shares of the company’s stock worth $4,930,000 after buying an additional 54,422 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Corvus Pharmaceuticals by 79.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 107,176 shares of the company’s stock worth $583,000 after buying an additional 47,293 shares during the last quarter. Geode Capital Management LLC boosted its stake in Corvus Pharmaceuticals by 6.3% in the 4th quarter. Geode Capital Management LLC now owns 137,555 shares of the company’s stock worth $748,000 after buying an additional 8,198 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in Corvus Pharmaceuticals by 9.5% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 81,800 shares of the company’s stock worth $445,000 after buying an additional 7,075 shares during the last quarter. 73.89% of the stock is currently owned by hedge funds and other institutional investors.

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.

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