ValuEngine upgraded shares of Corvus Pharmaceuticals (NASDAQ:CRVS) from a strong sell rating to a sell rating in a report published on Wednesday morning.
Other analysts also recently issued research reports about the company. Zacks Investment Research downgraded Corvus Pharmaceuticals from a buy rating to a hold rating in a research note on Friday, January 5th. Cowen reiterated 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 assigned a hold rating and two have given a buy rating to the company’s stock. Corvus Pharmaceuticals presently has a consensus rating of Hold and an average price target of $18.67.
Corvus Pharmaceuticals stock opened at $10.12 on Wednesday. Corvus Pharmaceuticals has a fifty-two week low of $7.42 and a fifty-two week high of $17.64.
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 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.
In related news, major shareholder Adams Street Partners Llc bought 588,235 shares of the stock in a transaction dated Monday, March 12th. The shares were purchased at an average price of $8.50 per share, for a total transaction of $4,999,997.50. Following the completion of the purchase, the insider now directly owns 4,420,516 shares of the company’s stock, valued at $37,574,386. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Richard A. Md Miller bought 100,000 shares of the stock in a transaction dated Monday, March 12th. The stock was bought at an average price of $8.50 per share, for a total transaction of $850,000.00. The disclosure for this purchase can be found here. 46.40% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP purchased a new stake in shares of Corvus Pharmaceuticals in the second quarter worth about $320,000. SG Americas Securities LLC purchased a new stake in shares of Corvus Pharmaceuticals in the fourth quarter worth about $150,000. Northern Trust Corp boosted its stake in shares of Corvus Pharmaceuticals by 97.6% in the second quarter. Northern Trust Corp now owns 86,525 shares of the company’s stock worth $1,047,000 after buying an additional 42,739 shares during the last quarter. Spark Investment Management LLC purchased a new stake in shares of Corvus Pharmaceuticals in the fourth quarter worth about $295,000. Finally, California State Teachers Retirement System boosted its stake in shares of Corvus Pharmaceuticals by 121.2% in the second quarter. California State Teachers Retirement System now owns 14,967 shares of the company’s stock worth $181,000 after buying an additional 8,200 shares during the last quarter. 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, 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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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