StockNews.com Downgrades Corvus Pharmaceuticals (NASDAQ:CRVS) to Sell

Corvus Pharmaceuticals (NASDAQ:CRVS) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Thursday.

Corvus Pharmaceuticals Stock Down 1.5 %

Shares of NASDAQ:CRVS traded down $0.06 on Thursday, reaching $4.00. 318,673 shares of the company’s stock were exchanged, compared to its average volume of 247,712. The business’s 50-day moving average is $2.97 and its two-hundred day moving average is $2.29. Corvus Pharmaceuticals has a fifty-two week low of $1.05 and a fifty-two week high of $4.75. The firm has a market capitalization of $250.20 million, a price-to-earnings ratio of -7.69 and a beta of 1.11.

Corvus Pharmaceuticals (NASDAQ:CRVS) last released its quarterly earnings data on Tuesday, August 6th. The company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.12) by $0.05. During the same quarter last year, the business posted ($0.14) EPS. Analysts predict that Corvus Pharmaceuticals will post -0.45 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in Corvus Pharmaceuticals by 10.6% in the first quarter. Vanguard Group Inc. now owns 1,493,357 shares of the company’s stock valued at $2,658,000 after buying an additional 142,724 shares during the last quarter. Towerview LLC lifted its position in Corvus Pharmaceuticals by 4.6% in the 2nd quarter. Towerview LLC now owns 400,000 shares of the company’s stock valued at $728,000 after purchasing an additional 17,500 shares during the last quarter. Samlyn Capital LLC boosted its stake in Corvus Pharmaceuticals by 160.7% during the 2nd quarter. Samlyn Capital LLC now owns 6,123,021 shares of the company’s stock valued at $11,144,000 after purchasing an additional 3,774,658 shares during the period. Marshall Wace LLP bought a new position in Corvus Pharmaceuticals in the 2nd quarter worth about $136,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of Corvus Pharmaceuticals in the second quarter valued at approximately $44,000. 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.