Corvus Pharmaceuticals (NASDAQ:CRVS) Raised to "Hold" at StockNews.com

Corvus Pharmaceuticals (NASDAQ:CRVS - Get Free Report) was upgraded by investment analysts at StockNews.com from a "sell" rating to a "hold" rating in a report released on Monday.

Other analysts have also recently issued reports about the stock. HC Wainwright reiterated a "buy" rating and issued a $11.00 target price on shares of Corvus Pharmaceuticals in a research note on Wednesday, March 26th. Oppenheimer reiterated an "outperform" rating and issued a $17.00 target price (up from $15.00) on shares of Corvus Pharmaceuticals in a research note on Friday. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $16.33.

Corvus Pharmaceuticals Price Performance

Shares of CRVS traded down $0.38 during mid-day trading on Monday, hitting $4.05. The company's stock had a trading volume of 2,514,640 shares, compared to its average volume of 708,970. The firm has a 50-day moving average price of $3.61 and a 200 day moving average price of $5.43. The stock has a market capitalization of $276.08 million, a price-to-earnings ratio of -4.35 and a beta of 0.67. Corvus Pharmaceuticals has a fifty-two week low of $1.75 and a fifty-two week high of $10.00.

Corvus Pharmaceuticals (NASDAQ:CRVS - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported ($0.13) earnings per share for the quarter, hitting the consensus estimate of ($0.13). As a group, equities analysts anticipate that Corvus Pharmaceuticals will post -0.63 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. lifted its position in Corvus Pharmaceuticals by 441.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 49,556 shares of the company's stock valued at $262,000 after purchasing an additional 40,404 shares during the period. Avity Investment Management Inc. increased its stake in shares of Corvus Pharmaceuticals by 7.6% in the 4th quarter. Avity Investment Management Inc. now owns 29,680 shares of the company's stock valued at $159,000 after acquiring an additional 2,100 shares during the last quarter. Masso Torrence Wealth Management Inc. increased its stake in shares of Corvus Pharmaceuticals by 200.0% in the 4th quarter. Masso Torrence Wealth Management Inc. now owns 30,000 shares of the company's stock valued at $160,000 after acquiring an additional 20,000 shares during the last quarter. China Universal Asset Management Co. Ltd. bought a new stake in shares of Corvus Pharmaceuticals in the 4th quarter valued at about $73,000. Finally, Three Bridge Wealth Advisors LLC bought a new stake in shares of Corvus Pharmaceuticals in the 4th quarter valued at about $120,000. Institutional investors and hedge funds 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.

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