Corvus Pharmaceuticals (NASDAQ:CRVS) Shares Down 7.6% – Time to Sell?

Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) traded down 7.6% on Friday . The company traded as low as $16.13 and last traded at $16.20. 685,615 shares traded hands during trading, a decline of 87% from the average session volume of 5,160,725 shares. The stock had previously closed at $17.53.

Analysts Set New Price Targets

Several brokerages have issued reports on CRVS. Jefferies Financial Group upped their target price on Corvus Pharmaceuticals from $13.00 to $42.00 and gave the stock a “buy” rating in a research note on Thursday, January 22nd. Wall Street Zen upgraded shares of Corvus Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Corvus Pharmaceuticals in a report on Thursday, December 11th. Barclays lifted their target price on shares of Corvus Pharmaceuticals from $16.00 to $28.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 20th. Finally, HC Wainwright upped their price target on shares of Corvus Pharmaceuticals from $11.00 to $27.00 and gave the company a “buy” rating in a research report on Tuesday, January 20th. Six analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Corvus Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average target price of $31.80.

Corvus Pharmaceuticals Trading Down 5.5%

The business’s fifty day simple moving average is $13.48 and its 200-day simple moving average is $9.18. The firm has a market cap of $1.39 billion, a P/E ratio of -31.26 and a beta of 0.73.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. lifted its holdings in 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 buying an additional 748 shares during the period. Quarry LP purchased a new position in shares of Corvus Pharmaceuticals during the third quarter valued at approximately $27,000. Russell Investments Group Ltd. bought a new position in shares of Corvus Pharmaceuticals during the third quarter valued at approximately $49,000. Truvestments Capital LLC lifted its stake in Corvus Pharmaceuticals by 86.1% in the fourth quarter. Truvestments Capital LLC now owns 10,257 shares of the company’s stock worth $79,000 after acquiring an additional 4,744 shares during the period. Finally, Captrust Financial Advisors purchased a new stake in Corvus Pharmaceuticals in the fourth quarter worth $85,000. Hedge funds and other institutional investors own 46.64% of the company’s stock.

Corvus Pharmaceuticals Company Profile

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.