Corvus Pharmaceuticals (NASDAQ:CRVS) Stock Rating Upgraded by Wall Street Zen

Key Points

• Corvus Pharmaceuticals (NASDAQ:CRVS) has been upgraded from a "sell" to a "hold" rating by analysts at Wall Street Zen.
• The stock is currently priced at $4.31, with a consensus rating of "Moderate Buy" and a target price averaging $15.00.
• Recently, a significant insider sale occurred, with Director Peter A. Thompson selling over 1.17 million shares, marking a 14.10% decrease in his ownership.

Wall Street Zen upgraded shares of Corvus Pharmaceuticals (NASDAQ:CRVS - Free Report) from a sell rating to a hold rating in a report released on Saturday.

Several other research firms have also weighed in on CRVS. Mizuho set a $11.00 price objective on shares of Corvus Pharmaceuticals and gave the stock an "outperform" rating in a research note on Tuesday, May 20th. Oppenheimer restated an "outperform" rating and set a $17.00 price objective (up from $15.00) on shares of Corvus Pharmaceuticals in a research note on Friday, May 9th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $15.00.

Corvus Pharmaceuticals Price Performance

CRVS stock traded up $0.31 during midday trading on Friday, hitting $4.81. The company's stock had a trading volume of 207,979 shares, compared to its average volume of 809,775. Corvus Pharmaceuticals has a twelve month low of $2.54 and a twelve month high of $10.00. The company's fifty day moving average price is $4.19 and its 200 day moving average price is $4.04. The stock has a market capitalization of $358.39 million, a P/E ratio of -4.76 and a beta of 0.42.

Corvus Pharmaceuticals (NASDAQ:CRVS - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.03. Equities analysts expect that Corvus Pharmaceuticals will post -0.63 EPS for the current fiscal year.

Insider Buying and Selling at Corvus Pharmaceuticals

In related news, Director Peter A. Thompson sold 1,176,332 shares of Corvus Pharmaceuticals stock in a transaction dated Friday, June 27th. The shares were sold at an average price of $4.16, for a total transaction of $4,893,541.12. Following the completion of the sale, the director owned 7,165,006 shares of the company's stock, valued at approximately $29,806,424.96. The trade was a 14.10% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 31.30% of the stock is owned by corporate insiders.

Institutional Trading of Corvus Pharmaceuticals

Hedge funds and other institutional investors have recently modified their holdings of the stock. Virtus ETF Advisers LLC bought a new stake in shares of Corvus Pharmaceuticals during the 4th quarter worth about $47,000. Alpine Global Management LLC bought a new stake in shares of Corvus Pharmaceuticals during the 4th quarter worth about $62,000. Sowell Financial Services LLC bought a new stake in shares of Corvus Pharmaceuticals during the 1st quarter worth about $38,000. Police & Firemen s Retirement System of New Jersey bought a new stake in shares of Corvus Pharmaceuticals during the 2nd quarter worth about $49,000. Finally, ExodusPoint Capital Management LP bought a new stake in shares of Corvus Pharmaceuticals during the 4th quarter worth about $72,000. Institutional investors 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.