Corvus Pharmaceuticals (NASDAQ:CRVS) Trading Down 9.4% – Should You Sell?

Shares of Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) dropped 9.4% on Thursday . The company traded as low as $16.15 and last traded at $16.16. Approximately 548,776 shares were traded during mid-day trading, a decline of 87% from the average daily volume of 4,301,096 shares. The stock had previously closed at $17.84.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CRVS. HC Wainwright raised their price target on shares of Corvus Pharmaceuticals from $11.00 to $27.00 and gave the stock a “buy” rating in a research note on Tuesday, January 20th. Wall Street Zen upgraded shares of Corvus Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Weiss Ratings restated a “sell (d-)” rating on shares of Corvus Pharmaceuticals in a report on Wednesday, January 21st. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Corvus Pharmaceuticals in a report on Thursday, December 11th. Finally, Jefferies Financial Group boosted their price objective on Corvus Pharmaceuticals from $13.00 to $42.00 and gave the stock a “buy” rating in a research note on Thursday, January 22nd. Six research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $31.80.

Corvus Pharmaceuticals Trading Down 1.6%

The stock has a market cap of $1.32 billion, a price-to-earnings ratio of -29.81 and a beta of 0.78. The company’s fifty day moving average is $15.59 and its two-hundred day moving average is $10.16.

Institutional Trading of Corvus Pharmaceuticals

A number of institutional investors have recently bought and sold shares of the business. GSA Capital Partners LLP grew its position in shares of Corvus Pharmaceuticals by 25.9% in the 3rd quarter. GSA Capital Partners LLP now owns 401,407 shares of the company’s stock valued at $2,958,000 after buying an additional 82,675 shares during the last quarter. BML Capital Management LLC acquired a new position in Corvus Pharmaceuticals in the second quarter valued at $475,000. Foresite Capital Management VI LLC grew its holdings in shares of Corvus Pharmaceuticals by 9.5% during the second quarter. Foresite Capital Management VI LLC now owns 1,731,233 shares of the company’s stock worth $6,925,000 after purchasing an additional 150,000 shares during the last quarter. Towerview LLC grew its holdings in shares of Corvus Pharmaceuticals by 33.3% during the second quarter. Towerview LLC now owns 170,000 shares of the company’s stock worth $680,000 after purchasing an additional 42,500 shares during the last quarter. Finally, Police & Firemen s Retirement System of New Jersey acquired a new stake in shares of Corvus Pharmaceuticals during the second quarter worth about $49,000. 46.64% of the stock is owned by hedge funds and other institutional investors.

About Corvus Pharmaceuticals

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.