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.
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.
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