Corvus Pharmaceuticals (NASDAQ:CRVS) Downgraded to "Sell" Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded Corvus Pharmaceuticals (NASDAQ:CRVS) from a “hold” to a “sell” rating in a report issued Saturday, even though the broader analyst view remains more positive.
• Most analysts are still bullish on the stock: seven research analysts rate Corvus a Buy, one rates it a Sell, and MarketBeat shows an average rating of “Moderate Buy” with a $33.33 target price.
• Recent results were mixed, as the company reported a quarterly loss of $0.15 per share, missing estimates by one cent. The stock opened at $15.55 and has traded between $3.38 and $26.95 over the past year.

Corvus Pharmaceuticals (NASDAQ:CRVS - Get Free Report) was downgraded by Wall Street Zen from a "hold" rating to a "sell" rating in a report issued on Saturday.

A number of other research analysts have also weighed in on CRVS. Mizuho set a $30.00 price objective on Corvus Pharmaceuticals in a research report on Thursday, January 29th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Corvus Pharmaceuticals in a research report on Friday, March 13th. Barclays lifted their price target on Corvus Pharmaceuticals from $16.00 to $28.00 and gave the stock an "overweight" rating in a research report on Tuesday, January 20th. HC Wainwright lifted their price target on Corvus Pharmaceuticals from $11.00 to $27.00 and gave the stock a "buy" rating in a research report on Tuesday, January 20th. Finally, Weiss Ratings raised shares of Corvus Pharmaceuticals from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Wednesday, April 29th. Seven research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, Corvus Pharmaceuticals currently has an average rating of "Moderate Buy" and an average target price of $33.33.

Corvus Pharmaceuticals Price Performance

CRVS opened at $15.55 on Friday. The stock's 50 day simple moving average is $15.52 and its 200 day simple moving average is $12.83. Corvus Pharmaceuticals has a 1 year low of $3.38 and a 1 year high of $26.95. The firm has a market cap of $1.31 billion, a price-to-earnings ratio of -29.90 and a beta of 0.94.

Corvus Pharmaceuticals (NASDAQ:CRVS - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.01). As a group, sell-side analysts anticipate that Corvus Pharmaceuticals will post -0.66 EPS for the current year.

Institutional Trading of Corvus Pharmaceuticals

Several institutional investors have recently bought and sold shares of the company. Quarry LP bought a new stake in shares of Corvus Pharmaceuticals in the 3rd quarter worth $27,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Corvus Pharmaceuticals by 26.0% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,629 shares of the company's stock worth $28,000 after purchasing an additional 748 shares in the last quarter. Russell Investments Group Ltd. bought a new stake in shares of Corvus Pharmaceuticals in the 3rd quarter worth $49,000. Sender Co & Partners Inc. bought a new stake in shares of Corvus Pharmaceuticals in the 2nd quarter worth $52,000. Finally, Bayesian Capital Management LP bought a new stake in shares of Corvus Pharmaceuticals in the 2nd quarter worth $70,000. 46.64% of the stock is owned by hedge funds and other institutional investors.

About Corvus Pharmaceuticals

Corvus Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of next-generation immuno-oncology therapies. The company's research efforts are centered on harnessing both the innate and adaptive immune systems to counteract tumor-driven immunosuppression. By targeting key pathways that regulate immune cell function, Corvus aims to create novel agents that can be combined with existing cancer treatments to improve patient outcomes.

Corvus's lead pipeline candidates include small-molecule and antibody therapies designed to inhibit the adenosine pathway, a known mediator of tumor immune escape.

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