Corvus Pharmaceuticals (NASDAQ:CRVS) Raised to Hold at Wall Street Zen

Corvus Pharmaceuticals (NASDAQ:CRVS) was upgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Saturday.

A number of other equities analysts also recently issued reports on CRVS. Mizuho set a $11.00 price objective on Corvus Pharmaceuticals and gave the stock an “outperform” rating in a report on Tuesday, May 20th. Oppenheimer reiterated an “outperform” rating and issued a $17.00 price objective (up previously from $15.00) on shares of Corvus Pharmaceuticals in a report on Friday, May 9th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $15.00.

Corvus Pharmaceuticals Stock Up 4.4%

Shares of Corvus Pharmaceuticals stock opened at $4.31 on Friday. The company has a market cap of $293.81 million, a PE ratio of -4.27 and a beta of 0.42. The business has a 50 day moving average of $4.17 and a 200 day moving average of $4.06. Corvus Pharmaceuticals has a 52 week low of $2.54 and a 52 week high of $10.00.

Corvus Pharmaceuticals (NASDAQ:CRVS) last announced its earnings results on Thursday, August 7th. The company reported ($0.10) EPS for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.03. On average, research analysts anticipate that Corvus Pharmaceuticals will post -0.63 earnings per share for the current year.

Insider Buying and Selling at Corvus Pharmaceuticals

In other news, Director Peter A. Thompson sold 1,176,332 shares of the firm’s stock in a transaction on Friday, June 27th. The stock was sold at an average price of $4.16, for a total transaction of $4,893,541.12. Following the completion of the transaction, the director directly owned 7,165,006 shares in the company, valued at $29,806,424.96. This trade represents a 14.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 28.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Corvus Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of CRVS. RTW Investments LP purchased a new stake in shares of Corvus Pharmaceuticals during the fourth quarter valued at $14,335,000. Foresite Capital Management VI LLC purchased a new stake in shares of Corvus Pharmaceuticals during the fourth quarter valued at $8,460,000. Deerfield Management Company L.P. Series C purchased a new stake in shares of Corvus Pharmaceuticals during the fourth quarter valued at $5,350,000. Geode Capital Management LLC boosted its position in shares of Corvus Pharmaceuticals by 130.7% during the second quarter. Geode Capital Management LLC now owns 1,361,740 shares of the company’s stock valued at $5,448,000 after buying an additional 771,454 shares during the last quarter. Finally, Vivo Capital LLC boosted its position in shares of Corvus Pharmaceuticals by 49.2% during the fourth quarter. Vivo Capital LLC now owns 2,234,566 shares of the company’s stock valued at $11,955,000 after buying an additional 737,298 shares during the last quarter. 46.64% of the stock is currently owned by 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.