Corvus Pharmaceuticals (NASDAQ:CRVS) Trading Down 8.6% – Should You Sell?

Shares of Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) dropped 8.6% during trading on Tuesday . The company traded as low as $8.73 and last traded at $8.74. Approximately 493,465 shares traded hands during mid-day trading, an increase of 40% from the average daily volume of 353,164 shares. The stock had previously closed at $9.56.

Wall Street Analysts Forecast Growth

CRVS has been the subject of a number of research analyst reports. StockNews.com cut Corvus Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Thursday, October 31st. 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. Finally, Mizuho raised Corvus Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Corvus Pharmaceuticals has an average rating of “Moderate Buy” and an average target price of $10.83.

Corvus Pharmaceuticals Stock Down 9.1 %

The business has a fifty day moving average price of $6.47 and a 200 day moving average price of $3.88. The company has a market capitalization of $543.56 million, a P/E ratio of -20.04 and a beta of 1.05.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of CRVS. Samlyn Capital LLC raised its position in shares of Corvus Pharmaceuticals by 160.7% during 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 in the last quarter. Point72 Asset Management L.P. bought a new stake in Corvus Pharmaceuticals in the 2nd quarter worth about $10,855,000. Vanguard Group Inc. grew its holdings in shares of Corvus Pharmaceuticals by 10.6% in the first quarter. Vanguard Group Inc. now owns 1,493,357 shares of the company’s stock worth $2,658,000 after acquiring an additional 142,724 shares during the period. Towerview LLC grew its position in shares of Corvus Pharmaceuticals by 4.6% during the 2nd quarter. Towerview LLC now owns 400,000 shares of the company’s stock valued at $728,000 after acquiring an additional 17,500 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Corvus Pharmaceuticals by 64.7% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 137,031 shares of the company’s stock worth $724,000 after purchasing an additional 53,809 shares in the last quarter. Institutional investors and hedge funds own 46.64% of the company’s stock.

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.