Published On: Thu, Sep 22nd, 2016

Corvus Pharmaceuticals Inc. (CRVS) Stock Rating Upgraded by Zacks Investment Research

Corvus Pharmaceuticals Inc. (NASDAQ:CRVS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Thursday.
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. “
Several other brokerages have also recently weighed in on CRVS. BTIG Research began coverage on shares of Corvus Pharmaceuticals in a research report on Thursday, June 2nd. They issued a “buy” rating on the stock. Cantor Fitzgerald set a $23.00 price objective on shares of Corvus Pharmaceuticals and gave the company a “buy” rating in a research report on Saturday, August 6th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $21.60.

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Shares of Corvus Pharmaceuticals (NASDAQ:CRVS) traded up 3.94% on Thursday, hitting $15.57. 15,177 shares of the company traded hands. Corvus Pharmaceuticals has a 1-year low of $9.63 and a 1-year high of $16.62. The firm’s market capitalization is $325.55 million. The firm’s 50-day moving average is $14.32 and its 200 day moving average is $13.86.
A number of hedge funds and other institutional investors have recently bought and sold shares of CRVS. BlackRock Inc. purchased a new position in Corvus Pharmaceuticals during the first quarter worth $174,000. BlackRock Group LTD purchased a new position in Corvus Pharmaceuticals during the first quarter worth $1,740,000. Arrowgrass Capital Partners US LP purchased a new position in Corvus Pharmaceuticals during the first quarter worth $1,668,000. Jennison Associates LLC raised its stake in shares of Corvus Pharmaceuticals by 22.9% in the second quarter. Jennison Associates LLC now owns 570,481 shares of the company’s stock worth $8,067,000 after buying an additional 106,349 shares in the last quarter. Finally, HBK Investments L P bought a new stake in shares of Corvus Pharmaceuticals during the first quarter worth about $1,740,000. Institutional investors and hedge funds own 82.91% of the company’s stock.
Corvus Pharmaceuticals Company Profile
Corvus Pharmaceuticals, Inc is a United States-based clinical-stage biopharmaceutical company. The Company is focused on the development of agents, which target the immune system to treat patients with cancer. The Company is developing drugs and antibodies that block crucial immune checkpoints, and reprogram immune T-cells.

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