Corvus Pharmaceuticals (NASDAQ:CRVS) Stock Price Down 11.6%


Share on StockTwits

Shares of Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) traded down 11.6% during mid-day trading on Tuesday . The company traded as low as $3.54 and last traded at $4.04. 2,542,982 shares changed hands during mid-day trading, an increase of 140% from the average session volume of 1,059,377 shares. The stock had previously closed at $4.57.

A number of equities analysts recently issued reports on the stock. Zacks Investment Research downgraded shares of Corvus Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Monday, February 15th. Mizuho downgraded shares of Corvus Pharmaceuticals from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $7.00 to $4.00 in a research note on Wednesday, February 10th.

The firm has a market cap of $113.37 million, a PE ratio of -2.68 and a beta of 1.81. The stock’s fifty day simple moving average is $3.92 and its two-hundred day simple moving average is $3.95.

In other news, Director Orbimed Advisors Llc purchased 1,285,714 shares of the business’s stock in a transaction dated Wednesday, February 17th. The shares were purchased at an average price of $3.50 per share, for a total transaction of $4,499,999.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Richard A. Md Miller purchased 100,000 shares of the business’s stock in a transaction dated Wednesday, February 17th. The shares were purchased at an average price of $3.50 per share, for a total transaction of $350,000.00. 45.12% of the stock is currently owned by corporate insiders.

Several large investors have recently bought and sold shares of CRVS. Morgan Stanley grew its holdings in shares of Corvus Pharmaceuticals by 117.7% during the third quarter. Morgan Stanley now owns 32,746 shares of the company’s stock valued at $131,000 after buying an additional 17,704 shares during the last quarter. Golden Green Inc. purchased a new stake in shares of Corvus Pharmaceuticals during the fourth quarter valued at approximately $70,000. Finally, Truist Financial Corp purchased a new stake in shares of Corvus Pharmaceuticals during the fourth quarter valued at approximately $75,000. Hedge funds and other institutional investors own 60.80% of the company’s stock.

Corvus Pharmaceuticals Company Profile (NASDAQ:CRVS)

Corvus Pharmaceuticals, Inc, a clinical stage biopharmaceutical company, focuses on the development and commercialization of immuno-oncology therapies. Its lead product candidate is Ciforadenant (CPI-444), an oral, small molecule antagonist of the A2A receptor that is in Phase Ib/2 clinical trial for adenosine, an immune checkpoint.

Featured Article: Convertible Shares

Receive News & Ratings for Corvus Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Corvus Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.