Corvus Pharmaceuticals (NASDAQ:CRVS) Share Price Passes Below 50 Day Moving Average of $2.01

Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS - Get Free Report) passed below its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $2.01 and traded as low as $1.50. Corvus Pharmaceuticals shares last traded at $1.53, with a volume of 155,079 shares traded.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on CRVS shares. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Corvus Pharmaceuticals in a research report on Monday, April 1st. Mizuho restated a "neutral" rating and set a $3.50 price objective on shares of Corvus Pharmaceuticals in a research report on Wednesday, March 27th. Finally, Oppenheimer reduced their target price on Corvus Pharmaceuticals from $8.00 to $7.00 and set an "outperform" rating on the stock in a report on Wednesday, March 20th.

Corvus Pharmaceuticals Stock Performance

The firm's fifty day moving average is $2.01 and its 200-day moving average is $1.76. The company has a market capitalization of $75.03 million, a P/E ratio of -2.68 and a beta of 1.02.

Corvus Pharmaceuticals (NASDAQ:CRVS - Get Free Report) last issued its earnings results on Tuesday, March 19th. The company reported ($0.14) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.14). As a group, analysts expect that Corvus Pharmaceuticals, Inc. will post -0.47 EPS for the current fiscal year.

Hedge Funds Weigh In On Corvus Pharmaceuticals

Several large investors have recently bought and sold shares of CRVS. Vanguard Group Inc. increased its stake in shares of Corvus Pharmaceuticals by 3.5% in the third quarter. Vanguard Group Inc. now owns 1,346,932 shares of the company's stock valued at $1,967,000 after buying an additional 45,707 shares during the period. Renaissance Technologies LLC increased its position in Corvus Pharmaceuticals by 1.3% in the 3rd quarter. Renaissance Technologies LLC now owns 975,519 shares of the company's stock valued at $798,000 after acquiring an additional 12,587 shares during the period. BlackRock Inc. raised its stake in shares of Corvus Pharmaceuticals by 7.9% during the second quarter. BlackRock Inc. now owns 532,381 shares of the company's stock valued at $1,219,000 after acquiring an additional 39,159 shares during the last quarter. Two Sigma Advisers LP lifted its holdings in shares of Corvus Pharmaceuticals by 28.6% during the third quarter. Two Sigma Advisers LP now owns 480,100 shares of the company's stock worth $393,000 after purchasing an additional 106,700 shares during the period. Finally, Towerview LLC lifted its holdings in shares of Corvus Pharmaceuticals by 27.6% during the fourth quarter. Towerview LLC now owns 436,873 shares of the company's stock worth $769,000 after purchasing an additional 94,395 shares during the period. 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 immuno-oncology therapies. Its lead product candidate is Mupadolimab (CPI-006), an anti-CD73 monoclonal antibody, which is in Phase I/Ib clinical trial for non-small cell lung cancer and head and neck cancers.