StockNews.com Lowers Corvus Pharmaceuticals (NASDAQ:CRVS) to Sell

StockNews.com downgraded shares of Corvus Pharmaceuticals (NASDAQ:CRVS) from a hold rating to a sell rating in a report released on Thursday.

Corvus Pharmaceuticals Trading Up 0.8 %

Shares of CRVS opened at $4.03 on Thursday. The firm has a market cap of $252.08 million, a P/E ratio of -7.75 and a beta of 1.13. Corvus Pharmaceuticals has a 12-month low of $1.05 and a 12-month high of $4.75. The company’s 50-day moving average price is $3.06 and its 200 day moving average price is $2.32.

Corvus Pharmaceuticals (NASDAQ:CRVS) last issued its quarterly 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 company posted ($0.14) EPS. Equities research analysts forecast that Corvus Pharmaceuticals will post -0.45 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Cubist Systematic Strategies LLC purchased a new stake in Corvus Pharmaceuticals during the second quarter worth approximately $44,000. Marshall Wace LLP purchased a new stake in shares of Corvus Pharmaceuticals during the 2nd quarter worth approximately $136,000. Towerview LLC boosted its holdings in shares of Corvus Pharmaceuticals by 4.6% in the 2nd quarter. Towerview LLC now owns 400,000 shares of the company’s stock valued at $728,000 after buying an additional 17,500 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Corvus Pharmaceuticals by 10.6% in the 1st 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 in the last quarter. Finally, Point72 Asset Management L.P. purchased a new position in shares of Corvus Pharmaceuticals in the 2nd quarter valued at $10,855,000. 46.64% of the stock is owned by institutional investors and hedge funds.

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.