Corvus Pharmaceuticals (NASDAQ:CRVS) Cut to “Sell” at Zacks Investment Research

Zacks Investment Research downgraded shares of Corvus Pharmaceuticals (NASDAQ:CRVS) from a hold rating to a sell rating in a research report sent to investors on Monday morning, 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. “

Other equities analysts have also issued reports about the company. Roth Capital began coverage on Corvus Pharmaceuticals in a report on Wednesday, May 29th. They set a buy rating and a $6.00 target price for the company. Wedbush lowered their target price on Corvus Pharmaceuticals from $19.00 to $11.00 and set an outperform rating for the company in a report on Wednesday, March 13th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of Hold and a consensus price target of $9.19.

NASDAQ:CRVS opened at $3.46 on Monday. Corvus Pharmaceuticals has a 52 week low of $3.22 and a 52 week high of $13.91. The company has a current ratio of 12.39, a quick ratio of 12.39 and a debt-to-equity ratio of 0.03.

Corvus Pharmaceuticals (NASDAQ:CRVS) last posted its earnings results on Thursday, May 9th. The company reported ($0.40) EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.40). As a group, equities research analysts expect that Corvus Pharmaceuticals will post -1.61 EPS for the current fiscal year.

In other Corvus Pharmaceuticals news, CFO Leiv Lea acquired 15,500 shares of Corvus Pharmaceuticals stock in a transaction dated Thursday, June 6th. The stock was acquired at an average cost of $3.56 per share, for a total transaction of $55,180.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Richard A. Md Miller acquired 9,212 shares of Corvus Pharmaceuticals stock in a transaction dated Friday, June 7th. The shares were acquired at an average price of $3.37 per share, with a total value of $31,044.44. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 39,924 shares of company stock valued at $139,314. Insiders own 39.50% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. Raymond James Trust N.A. acquired a new stake in Corvus Pharmaceuticals in the first quarter worth approximately $53,000. Paloma Partners Management Co acquired a new stake in Corvus Pharmaceuticals in the fourth quarter worth approximately $58,000. Rhumbline Advisers lifted its position in Corvus Pharmaceuticals by 44.1% in the fourth quarter. Rhumbline Advisers now owns 18,203 shares of the company’s stock worth $67,000 after purchasing an additional 5,570 shares during the period. State of Wisconsin Investment Board lifted its position in Corvus Pharmaceuticals by 29.4% in the first quarter. State of Wisconsin Investment Board now owns 18,500 shares of the company’s stock worth $74,000 after purchasing an additional 4,200 shares during the period. Finally, Prudential Financial Inc. lifted its position in Corvus Pharmaceuticals by 15.0% in the fourth quarter. Prudential Financial Inc. now owns 21,545 shares of the company’s stock worth $79,000 after purchasing an additional 2,805 shares during the period. Institutional investors and hedge funds own 84.46% of the company’s stock.

About Corvus Pharmaceuticals

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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