Corvus Pharmaceuticals (CRVS) Cut to Strong Sell at BidaskClub

Corvus Pharmaceuticals (NASDAQ:CRVS) was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued to investors on Thursday.

Several other research analysts also recently issued reports on CRVS. ValuEngine downgraded Corvus Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Friday, February 2nd. Cowen reaffirmed a “buy” rating on shares of Corvus Pharmaceuticals in a research note on Friday, March 2nd. Finally, Zacks Investment Research downgraded Corvus Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Wednesday, March 7th. Two analysts have rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. Corvus Pharmaceuticals presently has a consensus rating of “Hold” and an average price target of $17.00.

Shares of Corvus Pharmaceuticals traded up $9.81, hitting $9.81, during trading on Thursday, according to Marketbeat.com. 76,500 shares of the company were exchanged, compared to its average volume of 105,098. Corvus Pharmaceuticals has a 1 year low of $9.50 and a 1 year high of $9.86.

Corvus Pharmaceuticals (NASDAQ:CRVS) last released its quarterly earnings results on Thursday, May 3rd. The company reported ($0.63) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.74) by $0.11. analysts forecast that Corvus Pharmaceuticals will post -2.61 EPS for the current year.

In other news, major shareholder Adams Street Partners Llc bought 588,235 shares of the business’s stock in a transaction that occurred on Monday, March 12th. The stock was purchased at an average price of $8.50 per share, with a total value of $4,999,997.50. Following the purchase, the insider now owns 4,420,516 shares of the company’s stock, valued at approximately $37,574,386. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Richard A. Md Miller bought 100,000 shares of the business’s stock in a transaction that occurred on Monday, March 12th. The stock was purchased at an average cost of $8.50 per share, with a total value of $850,000.00. The disclosure for this purchase can be found here. Insiders own 46.40% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the stock. Deutsche Bank AG raised its stake in Corvus Pharmaceuticals by 118.1% in the 4th quarter. Deutsche Bank AG now owns 19,058 shares of the company’s stock valued at $196,000 after purchasing an additional 10,320 shares during the last quarter. SG Americas Securities LLC acquired a new position in Corvus Pharmaceuticals in the 4th quarter valued at about $150,000. Goldman Sachs Group Inc. acquired a new position in Corvus Pharmaceuticals in the 4th quarter valued at about $253,000. Spark Investment Management LLC acquired a new position in Corvus Pharmaceuticals in the 4th quarter valued at about $295,000. Finally, Millennium Management LLC raised its stake in Corvus Pharmaceuticals by 180.8% in the 4th quarter. Millennium Management LLC now owns 59,017 shares of the company’s stock valued at $611,000 after purchasing an additional 37,998 shares during the last quarter. 87.49% of the stock is owned by hedge funds and other institutional investors.

About Corvus Pharmaceuticals

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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