Corvus Pharmaceuticals (NASDAQ:CRVS) Shares Pass Below 50-Day Moving Average of $1.83

Shares of Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) passed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $1.83 and traded as low as $1.53. Corvus Pharmaceuticals shares last traded at $1.55, with a volume of 56,501 shares changing hands.

Wall Street Analyst Weigh In

CRVS has been the topic of a number of research reports. Cantor Fitzgerald restated an “overweight” rating on shares of Corvus Pharmaceuticals in a report on Monday, April 1st. Oppenheimer lowered their price target on Corvus Pharmaceuticals from $8.00 to $7.00 and set an “outperform” rating for the company in a research report on Wednesday, March 20th. Finally, Mizuho reaffirmed a “neutral” rating and issued a $3.50 price target on shares of Corvus Pharmaceuticals in a research report on Wednesday, March 27th.

Corvus Pharmaceuticals Stock Performance

The firm has a 50-day moving average price of $1.83 and a 200-day moving average price of $1.77. The stock has a market cap of $76.01 million, a PE ratio of -2.72 and a beta of 1.03.

Corvus Pharmaceuticals (NASDAQ:CRVS) last posted its quarterly earnings results on Tuesday, March 19th. The company reported ($0.14) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.14). As a group, sell-side analysts anticipate that Corvus Pharmaceuticals, Inc. will post -0.47 EPS for the current fiscal year.

Hedge Funds Weigh In On Corvus Pharmaceuticals

An institutional investor recently raised its position in Corvus Pharmaceuticals stock. Towerview LLC boosted its holdings in Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) by 27.6% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 436,873 shares of the company’s stock after buying an additional 94,395 shares during the quarter. Corvus Pharmaceuticals accounts for approximately 0.5% of Towerview LLC’s holdings, making the stock its 17th biggest position. Towerview LLC owned approximately 0.89% of Corvus Pharmaceuticals worth $769,000 as of its most recent SEC filing. 46.64% of the stock is owned by hedge funds and other institutional investors.

Corvus Pharmaceuticals Company Profile

Corvus Pharmaceuticals, Inc, a clinical stage biopharmaceutical company, focuses on the development and commercialization of immune modulator product candidates to treat solid cancers, T cell lymphomas, autoimmune, allergic, and infectious diseases. Its lead product candidate is soquelitinib (CPI-818), a selective covalent inhibitor of interleukin 2 inducible T cell kinase (ITK), which is in a multi-center Phase 1/1b clinical trial for the treatment of peripheral T cell lymphoma, solid tumors, and atopic dermatitis.