Zacks Investment Research lowered shares of Corvus Pharmaceuticals (NASDAQ:CRVS) from a hold rating to a sell rating in a report released 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. “

Other equities analysts have also issued research reports about the company. Roth Capital began coverage on Forty Seven in a research note on Wednesday, May 29th. They set a buy rating and a $28.00 price objective on the stock. Wedbush decreased their price target on Hercules Capital from $15.00 to $13.50 and set a hold rating on the stock in a research note on Wednesday, March 13th. Two equities 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 company. The company has an average rating of Hold and an average target price of $9.19.

Shares of CRVS stock opened at $5.47 on Tuesday. Corvus Pharmaceuticals has a 1-year low of $3.22 and a 1-year high of $11.38. The company’s 50-day moving average is $4.13. The company has a debt-to-equity ratio of 0.03, a quick ratio of 12.39 and a current ratio of 12.39.

Corvus Pharmaceuticals (NASDAQ:CRVS) last announced its quarterly earnings data on Thursday, May 9th. The company reported ($0.40) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.40). On average, equities analysts anticipate that Corvus Pharmaceuticals will post -1.61 earnings per share for the current fiscal year.

In other news, CFO Leiv Lea bought 15,500 shares of the firm’s stock in a transaction that occurred on Thursday, June 6th. The stock was purchased at an average cost of $3.56 per share, with a total value of $55,180.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Richard A. Md Miller bought 15,212 shares of the firm’s stock in a transaction that occurred on Tuesday, June 11th. The stock was purchased at an average cost of $3.49 per share, with a total value of $53,089.88. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 730,534 shares of company stock valued at $2,695,804. Insiders own 40.40% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Raymond James Trust N.A. purchased a new position in Corvus Pharmaceuticals in the 1st quarter valued at approximately $53,000. Paloma Partners Management Co purchased a new position in Corvus Pharmaceuticals in the 4th quarter valued at approximately $58,000. Rhumbline Advisers increased its stake in Corvus Pharmaceuticals by 44.1% in the 4th quarter. Rhumbline Advisers now owns 18,203 shares of the company’s stock valued at $67,000 after purchasing an additional 5,570 shares in the last quarter. Prudential Financial Inc. increased its stake in Corvus Pharmaceuticals by 15.0% in the 4th quarter. Prudential Financial Inc. now owns 21,545 shares of the company’s stock valued at $79,000 after purchasing an additional 2,805 shares in the last quarter. Finally, Millennium Management LLC increased its stake in Corvus Pharmaceuticals by 61.2% in the 4th quarter. Millennium Management LLC now owns 60,248 shares of the company’s stock valued at $221,000 after purchasing an additional 22,878 shares in the last quarter. 84.46% 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. 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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