Published On: Thu, Sep 8th, 2016

Corvus Pharmaceuticals Inc. (CRVS) Rating Lowered to Sell at Zacks Investment Research

Corvus Pharmaceuticals Inc. (NASDAQ:CRVS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Wednesday.
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. “
A number of institutional investors recently bought and sold shares of CRVS. BlackRock Inc. bought a new position in Corvus Pharmaceuticals during the first quarter valued at about $174,000. Goldman Sachs Group Inc. acquired a new stake in shares of Corvus Pharmaceuticals during the first quarter worth approximately $386,000. BlackRock Group LTD acquired a new stake in shares of Corvus Pharmaceuticals during the first quarter worth approximately $1,740,000. Arrowgrass Capital Partners US LP acquired a new stake in shares of Corvus Pharmaceuticals during the first quarter worth approximately $1,668,000. Finally, HBK Investments L P acquired a new stake in shares of Corvus Pharmaceuticals during the first quarter worth approximately $1,740,000. 82.91% of the stock is currently owned by institutional investors and hedge funds.

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Shares of Corvus Pharmaceuticals (NASDAQ:CRVS) traded up 0.21% during mid-day trading on Wednesday, reaching $14.45. 9,288 shares of the company’s stock were exchanged. The company’s 50 day moving average is $13.76 and its 200 day moving average is $13.72. Corvus Pharmaceuticals has a 1-year low of $9.63 and a 1-year high of $15.90. The stock’s market capitalization is $302.14 million.
In related news, Director Orbimed Advisors Llc acquired 20,000 shares of the firm’s stock in a transaction on Thursday, June 16th. The shares were acquired at an average cost of $12.35 per share, with a total value of $247,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Peter A. Thompson acquired 50,000 shares of the firm’s stock in a transaction on Friday, June 10th. The shares were bought at an average cost of $12.96 per share, for a total transaction of $648,000.00. The disclosure for this purchase can be found here.
A number of other brokerages also recently issued reports on CRVS. BTIG Research initiated coverage on shares of Corvus Pharmaceuticals in a report on Thursday, June 2nd. They set 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 report on Saturday, August 6th. One investment analyst has rated the stock with a sell rating and five have issued a buy rating to the company. Corvus Pharmaceuticals presently has an average rating of “Buy” and an average price target of $21.60.
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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