StockNews.com Upgrades Corvus Pharmaceuticals (NASDAQ:CRVS) to Hold

Corvus Pharmaceuticals (NASDAQ:CRVS) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday.

Separately, LADENBURG THALM/SH SH upped their price objective on Corvus Pharmaceuticals from $12.00 to $21.00 and gave the stock a “buy” rating in a research note on Monday, September 16th. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $10.83.

Corvus Pharmaceuticals Trading Up 1.6 %

Shares of CRVS stock opened at $7.68 on Wednesday. Corvus Pharmaceuticals has a twelve month low of $1.05 and a twelve month high of $8.33. The stock has a market capitalization of $480.39 million, a price-to-earnings ratio of -14.77 and a beta of 1.14. The stock has a fifty day simple moving average of $5.33 and a two-hundred day simple moving average of $3.23.

Corvus Pharmaceuticals (NASDAQ:CRVS) last issued its earnings results on Tuesday, August 6th. The company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.12) by $0.05. During the same period in the previous year, the firm earned ($0.14) earnings per share. Research analysts predict that Corvus Pharmaceuticals will post -0.45 EPS for the current fiscal year.

Institutional Investors Weigh In On Corvus Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Cubist Systematic Strategies LLC purchased a new stake in Corvus Pharmaceuticals in the second quarter valued at about $44,000. Marshall Wace LLP purchased a new stake in Corvus Pharmaceuticals in the second quarter valued at about $136,000. Avity Investment Management Inc. raised its stake in Corvus Pharmaceuticals by 138.2% in the third quarter. Avity Investment Management Inc. now owns 27,580 shares of the company’s stock valued at $146,000 after buying an additional 16,000 shares during the last quarter. Towerview LLC raised its stake in Corvus Pharmaceuticals by 4.6% in the second quarter. Towerview LLC now owns 400,000 shares of the company’s stock valued at $728,000 after buying an additional 17,500 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in Corvus Pharmaceuticals by 10.6% in the first quarter. Vanguard Group Inc. now owns 1,493,357 shares of the company’s stock valued at $2,658,000 after buying an additional 142,724 shares during the last quarter. 46.64% of the stock is currently owned by hedge funds and other institutional investors.

Corvus Pharmaceuticals Company Profile

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.