Zacks Investment Research cut shares of Corvus Pharmaceuticals (NASDAQ:CRVS) from a hold rating to a sell rating in a report published on Wednesday.
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. “
Other equities research analysts also recently issued research reports about the stock. Cowen reaffirmed a buy rating on shares of Corvus Pharmaceuticals in a research note on Friday, March 2nd. ValuEngine downgraded shares of Corvus Pharmaceuticals from a sell rating to a strong sell rating in a research note on Friday, February 2nd. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. The stock presently has an average rating of Hold and a consensus price target of $20.25.
Corvus Pharmaceuticals (NASDAQ:CRVS) last released its quarterly earnings results on Thursday, March 1st. The company reported ($0.58) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.76) by $0.18. sell-side analysts anticipate that Corvus Pharmaceuticals will post -3.15 earnings per share for the current year.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Corvus Pharmaceuticals by 37.1% in the 2nd 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 bought a new stake in shares of Corvus Pharmaceuticals in the 2nd quarter worth about $320,000. Northern Trust Corp increased its position in shares of Corvus Pharmaceuticals by 97.6% in the 2nd 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 increased its position in shares of Corvus Pharmaceuticals by 225.2% in the 2nd 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, Spark Investment Management LLC bought a new stake in shares of Corvus Pharmaceuticals in the 4th quarter worth about $295,000. 82.79% of the stock is owned by institutional investors.
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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