Corvus Pharmaceuticals (NASDAQ:CRVS) Rating Lowered to Hold at Zacks Investment Research

Corvus Pharmaceuticals (NASDAQ:CRVS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Friday, January 5th.

According to Zacks, “Corvus Pharmaceuticals, Inc. is a biopharmaceutical company. It focuses on the development and commercialization of immuno-oncology therapies to harness the immune system to attack cancer cells. Its products include CPI-444, Adenosine production inhibitor, Adenosine A2B antagonist and Interleukin-2 (IL-2)-inducible T cell kinase (ITK) inhibitors. Corvus Pharmaceuticals, Inc. is based in Burlingame, California. “

Corvus Pharmaceuticals (CRVS) traded down $0.12 during trading on Friday, reaching $10.39. The company’s stock had a trading volume of 106,900 shares, compared to its average volume of 75,022. The stock has a market cap of $218.62, a price-to-earnings ratio of -3.86 and a beta of -1.51. Corvus Pharmaceuticals has a 1-year low of $8.27 and a 1-year high of $22.14.

Corvus Pharmaceuticals (NASDAQ:CRVS) last announced its earnings results on Thursday, November 2nd. The company reported ($0.62) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.81) by $0.19. equities analysts expect that Corvus Pharmaceuticals will post -2.82 earnings per share for the current year.

In other Corvus Pharmaceuticals news, CEO Richard A. Md Miller purchased 10,000 shares of the stock in a transaction dated Monday, November 20th. The stock was acquired at an average cost of $10.79 per share, for a total transaction of $107,900.00. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. 46.40% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently made changes to their positions in CRVS. Russell Investments Group Ltd. raised its position in shares of Corvus Pharmaceuticals by 29.3% during the 2nd quarter. Russell Investments Group Ltd. now owns 9,286 shares of the company’s stock worth $112,000 after acquiring an additional 2,105 shares in the last quarter. New York State Common Retirement Fund increased its position in Corvus Pharmaceuticals by 2,269.1% during the second quarter. New York State Common Retirement Fund now owns 9,500 shares of the company’s stock worth $115,000 after buying an additional 9,099 shares during the period. Alliancebernstein L.P. acquired a new position in Corvus Pharmaceuticals during the second quarter worth approximately $175,000. California State Teachers Retirement System increased its position in Corvus Pharmaceuticals by 121.2% during the second quarter. California State Teachers Retirement System now owns 14,967 shares of the company’s stock worth $181,000 after buying an additional 8,200 shares during the period. Finally, Teachers Advisors LLC increased its position in Corvus Pharmaceuticals by 338.4% during the second quarter. Teachers Advisors LLC now owns 15,568 shares of the company’s stock worth $188,000 after buying an additional 12,017 shares during the period. Institutional investors and hedge funds own 83.39% of the company’s stock.

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Corvus Pharmaceuticals Company Profile

Corvus Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company. The Company is focused on the development and commercialization of immuno-oncology therapies. The Company is developing drugs and antibodies that block crucial immune checkpoints and reprogram immune T-cells. The Company has a pipeline of four immuno-oncology programs, three of which focus on the adenosine-cancer axis to modulate an immune response.

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