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

StockNews.com upgraded shares of Corvus Pharmaceuticals (NASDAQ:CRVS) from a sell rating to a hold rating in a report published on Friday.

Corvus Pharmaceuticals Stock Up 13.3 %

Corvus Pharmaceuticals stock opened at $5.78 on Friday. The stock has a market cap of $361.54 million, a PE ratio of -11.12 and a beta of 1.13. Corvus Pharmaceuticals has a 12-month low of $1.05 and a 12-month high of $6.15. The business’s 50-day moving average price is $3.43 and its two-hundred day moving average price is $2.43.

Corvus Pharmaceuticals (NASDAQ:CRVS) last announced its quarterly earnings results on Tuesday, August 6th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.05. During the same quarter in the prior year, the business earned ($0.14) EPS. As a group, analysts expect that Corvus Pharmaceuticals will post -0.45 earnings per share for the current year.

Institutional Investors Weigh In On Corvus Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of CRVS. Point72 Asset Management L.P. acquired a new stake in shares of Corvus Pharmaceuticals during the second quarter valued at about $10,855,000. Samlyn Capital LLC raised its holdings in Corvus Pharmaceuticals by 160.7% in the 2nd quarter. Samlyn Capital LLC now owns 6,123,021 shares of the company’s stock valued at $11,144,000 after buying an additional 3,774,658 shares during the last quarter. Vanguard Group Inc. boosted its position in Corvus Pharmaceuticals by 10.6% during the 1st quarter. Vanguard Group Inc. now owns 1,493,357 shares of the company’s stock worth $2,658,000 after buying an additional 142,724 shares during the period. Marshall Wace LLP bought a new stake in Corvus Pharmaceuticals during the 2nd quarter worth approximately $136,000. Finally, Cubist Systematic Strategies LLC acquired a new position in Corvus Pharmaceuticals in the 2nd quarter valued at approximately $44,000. Institutional investors own 46.64% of the company’s stock.

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.