Corvus Pharmaceuticals (NASDAQ:CRVS) Trading Down 9.3% – Time to Sell?

Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS)’s share price dropped 9.3% on Monday . The company traded as low as $21.82 and last traded at $22.7710. Approximately 1,364,709 shares traded hands during trading, a decline of 84% from the average daily volume of 8,520,810 shares. The stock had previously closed at $25.10.

Analyst Ratings Changes

CRVS has been the topic of a number of recent analyst reports. Cantor Fitzgerald reissued an “overweight” rating on shares of Corvus Pharmaceuticals in a research note on Thursday, December 11th. Mizuho set a $20.00 price target on Corvus Pharmaceuticals in a report on Tuesday, January 20th. Barclays lifted their price objective on shares of Corvus Pharmaceuticals from $16.00 to $28.00 and gave the company an “overweight” rating in a research note on Tuesday, January 20th. Wall Street Zen raised shares of Corvus Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Finally, HC Wainwright lifted their price target on shares of Corvus Pharmaceuticals from $11.00 to $27.00 and gave the company a “buy” rating in a research note on Tuesday, January 20th. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $29.80.

Corvus Pharmaceuticals Stock Performance

The company has a market cap of $1.72 billion, a price-to-earnings ratio of -43.42 and a beta of 0.70. The stock’s fifty day moving average is $9.21 and its two-hundred day moving average is $7.17.

Corvus Pharmaceuticals (NASDAQ:CRVS) last posted its quarterly earnings data on Tuesday, November 4th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.02. On average, equities research analysts expect that Corvus Pharmaceuticals, Inc. will post -0.63 EPS for the current year.

Hedge Funds Weigh In On Corvus Pharmaceuticals

Several institutional investors have recently modified their holdings of CRVS. Quarry LP bought a new stake in Corvus Pharmaceuticals during the third quarter worth $27,000. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Corvus Pharmaceuticals by 26.0% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,629 shares of the company’s stock valued at $28,000 after purchasing an additional 748 shares during the last quarter. Police & Firemen s Retirement System of New Jersey bought a new stake in shares of Corvus Pharmaceuticals during the 2nd quarter worth $49,000. Russell Investments Group Ltd. purchased a new position in shares of Corvus Pharmaceuticals in the 3rd quarter worth about $49,000. Finally, Sender Co & Partners Inc. bought a new position in Corvus Pharmaceuticals during the second quarter valued at about $52,000. 46.64% of the stock is owned by institutional investors.

About Corvus Pharmaceuticals

Corvus Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of next-generation immuno-oncology therapies. The company’s research efforts are centered on harnessing both the innate and adaptive immune systems to counteract tumor-driven immunosuppression. By targeting key pathways that regulate immune cell function, Corvus aims to create novel agents that can be combined with existing cancer treatments to improve patient outcomes.

Corvus’s lead pipeline candidates include small-molecule and antibody therapies designed to inhibit the adenosine pathway, a known mediator of tumor immune escape.