Corvus Pharmaceuticals (NASDAQ:CRVS) was upgraded by equities researchers at BidaskClub from a “strong sell” rating to a “sell” rating in a research report issued to clients and investors on Friday.
A number of other brokerages have also recently issued reports on CRVS. Cowen reaffirmed a “buy” rating on shares of Corvus Pharmaceuticals in a research note on Friday, March 2nd. ValuEngine cut shares of Corvus Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Friday, February 2nd. Finally, Zacks Investment Research cut shares of Corvus Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Wednesday, March 7th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $17.00.
Shares of Corvus Pharmaceuticals traded up $0.10, reaching $11.22, during midday trading on Friday, MarketBeat.com reports. The company had a trading volume of 520 shares, compared to its average volume of 57,352. The firm has a market cap of $323.75 million, a P/E ratio of -4.11 and a beta of -2.65. Corvus Pharmaceuticals has a 1-year low of $7.42 and a 1-year high of $17.64.
Corvus Pharmaceuticals (NASDAQ:CRVS) last issued its quarterly earnings results on Thursday, May 3rd. The company reported ($0.63) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.74) by $0.11. equities analysts anticipate that Corvus Pharmaceuticals will post -2.88 earnings per share for the current fiscal year.
In other news, major shareholder Adams Street Partners Llc purchased 588,235 shares of Corvus Pharmaceuticals stock in a transaction dated Monday, March 12th. The shares were bought at an average cost of $8.50 per share, with a total value of $4,999,997.50. Following the completion of the transaction, the insider now directly owns 4,420,516 shares in the company, valued at approximately $37,574,386. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Richard A. Md Miller purchased 100,000 shares of Corvus Pharmaceuticals stock in a transaction dated Monday, March 12th. The shares were purchased at an average cost of $8.50 per share, for a total transaction of $850,000.00. The disclosure for this purchase can be found here. 39.50% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in CRVS. SG Americas Securities LLC bought a new position in shares of Corvus Pharmaceuticals during the fourth quarter worth $150,000. Deutsche Bank AG boosted its position in shares of Corvus Pharmaceuticals by 118.1% during the fourth quarter. Deutsche Bank AG now owns 19,058 shares of the company’s stock worth $196,000 after purchasing an additional 10,320 shares in the last quarter. Goldman Sachs Group Inc. bought a new position in shares of Corvus Pharmaceuticals during the fourth quarter worth $253,000. Spark Investment Management LLC bought a new position in shares of Corvus Pharmaceuticals during the fourth quarter worth $295,000. Finally, Millennium Management LLC boosted its position in shares of Corvus Pharmaceuticals by 180.8% during the fourth quarter. Millennium Management LLC now owns 59,017 shares of the company’s stock worth $611,000 after purchasing an additional 37,998 shares in the last quarter. 85.35% 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 that are designed to harness the immune system to attack cancer cells. Its lead product candidate is CPI-444, an oral, small molecule antagonist of the A2A receptor that is in Phase I/Ib clinical trial for adenosine, an immune checkpoint.
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