Correvio Pharma (NASDAQ:CORV) Trading Down 39.8%
Correvio Pharma Corp (NASDAQ:CORV) shares were down 39.8% during trading on Friday . The company traded as low as $1.27 and last traded at $1.30, approximately 14,895,231 shares were traded during mid-day trading. An increase of 5,463% from the average daily volume of 267,767 shares. The stock had previously closed at $2.16.
Several brokerages recently weighed in on CORV. HC Wainwright reaffirmed a “buy” rating and issued a $7.00 price target on shares of Correvio Pharma in a research note on Friday, November 15th. Cantor Fitzgerald initiated coverage on Correvio Pharma in a report on Tuesday, September 3rd. They issued an “overweight” rating and a $6.00 price objective for the company. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $6.67.
The company has a market capitalization of $104.58 million, a P/E ratio of -1.46 and a beta of 0.49. The company’s 50 day moving average is $2.11 and its 200-day moving average is $2.07. The company has a current ratio of 1.45, a quick ratio of 1.25 and a debt-to-equity ratio of 22.54.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Tamarack Advisers LP lifted its holdings in shares of Correvio Pharma by 34.3% during the third quarter. Tamarack Advisers LP now owns 4,500,000 shares of the company’s stock valued at $9,000,000 after purchasing an additional 1,150,000 shares during the last quarter. River & Mercantile Asset Management LLP purchased a new stake in shares of Correvio Pharma in the 2nd quarter worth approximately $1,212,000. ARS Investment Partners LLC increased its position in Correvio Pharma by 24.9% during the 2nd quarter. ARS Investment Partners LLC now owns 422,123 shares of the company’s stock valued at $912,000 after buying an additional 84,255 shares in the last quarter. LPL Financial LLC increased its position in Correvio Pharma by 177.1% during the 2nd quarter. LPL Financial LLC now owns 63,855 shares of the company’s stock valued at $138,000 after buying an additional 40,815 shares in the last quarter. Finally, Westfield Capital Management Co. LP raised its stake in Correvio Pharma by 0.8% during the second quarter. Westfield Capital Management Co. LP now owns 4,825,255 shares of the company’s stock valued at $10,423,000 after buying an additional 37,223 shares during the last quarter. 48.62% of the stock is owned by institutional investors and hedge funds.
Correvio Pharma Company Profile (NASDAQ:CORV)
Correvio Pharma Corp. operates as a pharmaceutical company, which engages in the provision of development and commercialization of medical products. It operates through the Europe and Rest of the World geographical segments. The firm focuses on cardiovascular therapies that will improve the quality of life and health of patients suffering from heart disease.
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