Corvus Pharmaceuticals Inc (NASDAQ:CRVS) – Research analysts at Cantor Fitzgerald lowered their FY2018 earnings estimates for Corvus Pharmaceuticals in a research report issued to clients and investors on Sunday, Zacks Investment Research reports. Cantor Fitzgerald analyst M. Goldstein now anticipates that the company will post earnings per share of ($3.22) for the year, down from their prior forecast of ($3.18).
CRVS has been the subject of several other reports. ValuEngine downgraded shares of Corvus Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Friday, February 2nd. Zacks Investment Research downgraded shares of Corvus Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Friday, January 5th. Finally, Cowen reaffirmed a “buy” rating on shares of Corvus Pharmaceuticals in a research note on Friday, March 2nd. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company’s stock. Corvus Pharmaceuticals has a consensus rating of “Hold” and a consensus target price of $20.25.
Corvus Pharmaceuticals (CRVS) traded down $0.09 on Wednesday, reaching $10.54. 132,077 shares of the company’s stock traded hands, compared to its average volume of 146,164. Corvus Pharmaceuticals has a 12-month low of $7.42 and a 12-month high of $22.14. The company has a market capitalization of $221.77 and a P/E ratio of -3.88.
Corvus Pharmaceuticals (NASDAQ:CRVS) last posted its quarterly earnings results on Thursday, March 1st. The company reported ($0.58) earnings per share for the quarter, beating the consensus estimate of ($0.76) by $0.18.
In other Corvus Pharmaceuticals news, major shareholder Adams Street Partners Llc acquired 588,235 shares of Corvus Pharmaceuticals stock in a transaction dated Monday, March 12th. The stock was purchased at an average cost of $8.50 per share, for a total transaction of $4,999,997.50. Following the completion of the acquisition, the insider now directly owns 4,420,516 shares of the company’s stock, valued at $37,574,386. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Richard A. Md Miller acquired 100,000 shares of Corvus Pharmaceuticals stock in a transaction dated Monday, March 12th. The shares were acquired at an average price of $8.50 per share, with a total value of $850,000.00. The disclosure for this purchase can be found here. 46.40% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of CRVS. Vanguard Group Inc. boosted its holdings in Corvus Pharmaceuticals by 37.1% during the second quarter. Vanguard Group Inc. now owns 373,512 shares of the company’s stock worth $4,520,000 after purchasing an additional 101,013 shares during the last quarter. Dimensional Fund Advisors LP purchased a new position in Corvus Pharmaceuticals during the second quarter worth about $320,000. Northern Trust Corp boosted its holdings in Corvus Pharmaceuticals by 97.6% during the second quarter. Northern Trust Corp now owns 86,525 shares of the company’s stock worth $1,047,000 after purchasing an additional 42,739 shares during the last quarter. TIAA CREF Investment Management LLC boosted its holdings in Corvus Pharmaceuticals by 225.2% during the second quarter. TIAA CREF Investment Management LLC now owns 23,354 shares of the company’s stock worth $283,000 after purchasing an additional 16,173 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new position in Corvus Pharmaceuticals during the fourth quarter worth about $150,000. Hedge funds and other institutional investors own 82.71% 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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