Corvus Pharmaceuticals (CRVS) Downgraded to Hold at Zacks Investment Research
Zacks Investment Research downgraded shares of Corvus Pharmaceuticals (NASDAQ:CRVS) from a buy rating to a hold rating in a research report sent to investors on Tuesday morning.
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 analysts also recently issued reports about the stock. Wedbush restated an outperform rating on shares of Corvus Pharmaceuticals in a research note on Wednesday, August 8th. BidaskClub downgraded shares of Corvus Pharmaceuticals from a hold rating to a sell rating in a research note on Tuesday, July 31st. Credit Suisse Group upgraded shares of Corvus Pharmaceuticals from a neutral rating to a buy rating and increased their price objective for the stock from $11.00 to $15.00 in a research note on Wednesday, August 15th. Finally, ValuEngine downgraded shares of Corvus Pharmaceuticals from a buy rating to a hold rating in a research note on Monday, June 18th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus price target of $14.00.
Corvus Pharmaceuticals (NASDAQ:CRVS) last posted its quarterly earnings data on Thursday, August 2nd. The company reported ($0.40) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.64) by $0.24. Analysts expect that Corvus Pharmaceuticals will post -1.98 earnings per share for the current year.
Several institutional investors have recently bought and sold shares of CRVS. Rhumbline Advisers acquired a new position in shares of Corvus Pharmaceuticals during the 2nd quarter worth about $147,000. Acadian Asset Management LLC lifted its stake in Corvus Pharmaceuticals by 129.3% in the 2nd quarter. Acadian Asset Management LLC now owns 21,494 shares of the company’s stock valued at $236,000 after purchasing an additional 12,119 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its stake in Corvus Pharmaceuticals by 48.0% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 25,900 shares of the company’s stock valued at $285,000 after purchasing an additional 8,400 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Corvus Pharmaceuticals by 35.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 37,099 shares of the company’s stock valued at $407,000 after purchasing an additional 9,782 shares during the last quarter. Finally, International Biotechnology Trust PLC acquired a new stake in Corvus Pharmaceuticals in the 2nd quarter valued at about $892,000. Institutional investors own 88.72% of the company’s stock.
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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