Corvus Pharmaceuticals (CRVS) Downgraded by Zacks Investment Research to Hold

Corvus Pharmaceuticals (NASDAQ:CRVS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.

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. “

Corvus Pharmaceuticals (NASDAQ:CRVS) traded down $0.36 on Friday, hitting $10.85. 19,885 shares of the stock traded hands, compared to its average volume of 52,825. Corvus Pharmaceuticals has a fifty-two week low of $8.27 and a fifty-two week high of $22.14. The company has a market cap of $228.93 and a price-to-earnings ratio of -4.03.

Corvus Pharmaceuticals (NASDAQ:CRVS) last posted its earnings results on Thursday, November 2nd. The company reported ($0.62) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.81) by $0.19. analysts predict that Corvus Pharmaceuticals will post -2.82 EPS for the current fiscal year.

In other news, CEO Richard A. Md Miller bought 10,000 shares of the stock in a transaction dated Monday, November 20th. The shares were acquired at an average price of $10.79 per share, with a total value of $107,900.00. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. 46.40% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of CRVS. Russell Investments Group Ltd. lifted its position in Corvus Pharmaceuticals by 29.3% during the 2nd quarter. Russell Investments Group Ltd. now owns 9,286 shares of the company’s stock worth $112,000 after buying an additional 2,105 shares in the last quarter. New York State Common Retirement Fund lifted its position in Corvus Pharmaceuticals by 2,269.1% during the 2nd quarter. New York State Common Retirement Fund now owns 9,500 shares of the company’s stock worth $115,000 after buying an additional 9,099 shares in the last quarter. Alliancebernstein L.P. acquired a new position in Corvus Pharmaceuticals during the 2nd quarter worth about $175,000. California State Teachers Retirement System lifted its position in Corvus Pharmaceuticals by 121.2% during the 2nd 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 in the last quarter. Finally, Teachers Advisors LLC lifted its position in Corvus Pharmaceuticals by 338.4% during the 2nd quarter. Teachers Advisors LLC now owns 15,568 shares of the company’s stock worth $188,000 after buying an additional 12,017 shares in the last quarter. Institutional investors and hedge funds own 83.39% of the company’s stock.

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Corvus Pharmaceuticals Company Profile

Corvus Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company. The Company is focused on the development and commercialization of immuno-oncology therapies. The Company is developing drugs and antibodies that block crucial immune checkpoints and reprogram immune T-cells. The Company has a pipeline of four immuno-oncology programs, three of which focus on the adenosine-cancer axis to modulate an immune response.

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