Corvus Pharmaceuticals (NASDAQ:CRVS) Shares Down 7.6% – Time to Sell?

Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS)’s share price traded down 7.6% on Friday . The company traded as low as $16.13 and last traded at $16.20. 685,615 shares were traded during mid-day trading, a decline of 87% from the average session volume of 5,160,725 shares. The stock had previously closed at $17.53.

Analysts Set New Price Targets

A number of equities analysts have recently commented on CRVS shares. HC Wainwright raised their price target on Corvus Pharmaceuticals from $11.00 to $27.00 and gave the stock a “buy” rating in a report on Tuesday, January 20th. Oppenheimer increased their price objective on Corvus Pharmaceuticals from $15.00 to $32.00 and gave the stock an “outperform” rating in a report on Wednesday, January 21st. Wall Street Zen raised Corvus Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Barclays increased their price target on shares of Corvus Pharmaceuticals from $16.00 to $28.00 and gave the stock an “overweight” rating in a report on Tuesday, January 20th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Corvus Pharmaceuticals in a research note on Thursday, December 11th. Six research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $31.80.

Corvus Pharmaceuticals Stock Performance

The stock has a market cap of $1.39 billion, a P/E ratio of -31.26 and a beta of 0.73. The stock has a 50-day moving average price of $13.48 and a 200-day moving average price of $9.18.

Hedge Funds Weigh In On Corvus Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Quarry LP bought a new stake in shares of Corvus Pharmaceuticals during the 3rd quarter worth $27,000. Mirae Asset Global Investments Co. Ltd. raised its position in Corvus Pharmaceuticals by 26.0% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,629 shares of the company’s stock valued at $28,000 after purchasing an additional 748 shares in the last quarter. Police & Firemen s Retirement System of New Jersey bought a new stake in Corvus Pharmaceuticals during the second quarter worth about $49,000. Russell Investments Group Ltd. bought a new stake in Corvus Pharmaceuticals during the third quarter worth about $49,000. Finally, Sender Co & Partners Inc. purchased a new position in shares of Corvus Pharmaceuticals in the 2nd quarter worth about $52,000. Hedge funds and other institutional investors own 46.64% of the company’s stock.

About Corvus Pharmaceuticals

Corvus Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of next-generation immuno-oncology therapies. The company’s research efforts are centered on harnessing both the innate and adaptive immune systems to counteract tumor-driven immunosuppression. By targeting key pathways that regulate immune cell function, Corvus aims to create novel agents that can be combined with existing cancer treatments to improve patient outcomes.

Corvus’s lead pipeline candidates include small-molecule and antibody therapies designed to inhibit the adenosine pathway, a known mediator of tumor immune escape.