Corvus Pharmaceuticals (CRVS) Downgraded to Sell at Zacks Investment Research

Zacks Investment Research lowered shares of Corvus Pharmaceuticals (NASDAQ:CRVS) from a hold rating to a sell rating in a research report report published on Tuesday, Zacks.com reports.

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. “

CRVS has been the topic of several other research reports. Wedbush dropped their price objective on shares of Corvus Pharmaceuticals from $19.00 to $11.00 and set an outperform rating on the stock in a report on Wednesday, March 13th. ValuEngine lowered shares of Corvus Pharmaceuticals from a buy rating to a hold rating in a report on Friday, December 21st. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of Hold and a consensus price target of $11.94.

CRVS stock opened at $3.86 on Tuesday. Corvus Pharmaceuticals has a 12-month low of $3.22 and a 12-month high of $13.91.

Corvus Pharmaceuticals (NASDAQ:CRVS) last released its earnings results on Thursday, March 7th. The company reported ($0.36) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.46) by $0.10. Equities analysts expect that Corvus Pharmaceuticals will post -1.66 EPS for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Raymond James Trust N.A. acquired a new stake in shares of Corvus Pharmaceuticals in the 1st quarter worth about $53,000. Paloma Partners Management Co acquired a new stake in shares of Corvus Pharmaceuticals in the 4th quarter worth about $58,000. Rhumbline Advisers raised its holdings in shares of Corvus Pharmaceuticals by 44.1% in the 4th quarter. Rhumbline Advisers now owns 18,203 shares of the company’s stock worth $67,000 after acquiring an additional 5,570 shares during the last quarter. Prudential Financial Inc. raised its holdings in shares of Corvus Pharmaceuticals by 15.0% in the 4th quarter. Prudential Financial Inc. now owns 21,545 shares of the company’s stock worth $79,000 after acquiring an additional 2,805 shares during the last quarter. Finally, Citadel Advisors LLC acquired a new stake in shares of Corvus Pharmaceuticals in the 3rd quarter worth about $182,000. Hedge funds and other institutional investors own 85.71% 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. 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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