Corvus Pharmaceuticals (NASDAQ:CRVS) Stock Price Down 8% – Here’s What Happened

Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS)’s share price fell 8% during mid-day trading on Monday . The company traded as low as $8.49 and last traded at $8.4320. 498,201 shares were traded during mid-day trading, a decline of 40% from the average session volume of 829,212 shares. The stock had previously closed at $9.17.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Corvus Pharmaceuticals in a report on Wednesday, October 8th. Mizuho set a $13.00 price target on shares of Corvus Pharmaceuticals in a research report on Wednesday, October 29th. Barclays began coverage on shares of Corvus Pharmaceuticals in a research report on Monday, October 13th. They set an “overweight” rating and a $16.00 price objective for the company. Finally, Wall Street Zen raised Corvus Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Four research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Corvus Pharmaceuticals has an average rating of “Moderate Buy” and a consensus target price of $14.25.

Corvus Pharmaceuticals Stock Down 7.2%

The firm has a market capitalization of $635.53 million, a P/E ratio of -16.06 and a beta of 0.64. The business’s 50 day moving average is $7.67 and its two-hundred day moving average is $5.65.

Corvus Pharmaceuticals (NASDAQ:CRVS) last released its earnings results on Tuesday, November 4th. The company reported ($0.12) EPS for the quarter, beating the consensus estimate of ($0.14) by $0.02. As a group, equities analysts anticipate that Corvus Pharmaceuticals, Inc. will post -0.63 earnings per share for the current fiscal year.

Institutional Trading of Corvus Pharmaceuticals

A number of large investors have recently added to or reduced their stakes in CRVS. Quarry LP purchased a new stake in shares of Corvus Pharmaceuticals in the 3rd quarter valued at approximately $27,000. Police & Firemen s Retirement System of New Jersey acquired a new stake in shares of Corvus Pharmaceuticals during the 2nd quarter worth approximately $49,000. Russell Investments Group Ltd. bought a new stake in Corvus Pharmaceuticals in the third quarter valued at about $49,000. Sender Co & Partners Inc. acquired a new stake in Corvus Pharmaceuticals in the 2nd quarter valued at $52,000. Finally, ProShare Advisors LLC bought a new stake in Corvus Pharmaceuticals during the 2nd quarter worth approximately $54,000. 46.64% of the stock is currently owned by institutional investors.

About Corvus Pharmaceuticals

Corvus Pharmaceuticals, Inc, a clinical stage biopharmaceutical company, focuses on the development and commercialization of immune modulator product candidates to treat solid cancers, T cell lymphomas, autoimmune, allergic, and infectious diseases. Its lead product candidate is soquelitinib (CPI-818), a selective covalent inhibitor of interleukin 2 inducible T cell kinase (ITK), which is in a multi-center Phase 1/1b clinical trial for the treatment of peripheral T cell lymphoma, solid tumors, and atopic dermatitis.