CRVS - Corvus Pharma praised for its focus after end to COVID-19 study

Cristian Storto Fotografia/iStock via Getty Images The shares of Corvus Pharmaceuticals ([[CRVS]] -0.9%) have reached their lowest level in more than a year after the company announced an end to its late-stage study for mupadolimab in COVID-19, citing the positive impact of vaccines on virus-related hospitalizations and death. Noting that the monoclonal antibody is currently undergoing a Phase 1/1b clinical trial in oncology, the treatment will continue to be studied for cancer, the company said. However, several Street analysts covering the stock have maintained their ratings on the company as they note that the trial discontinuation will help the company to refocus on efforts aimed at long-term growth.   Keeping the buy rating, H.C. Wainwright analyst Swayampakula Ramakanth called the decision “a better option for capital allocation and long-term growth.” However, Ramakanth has slashed the price target of Corvus to $6.00 from $9.50 per share, indicating a premium of ~43.5% to the

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Corvus Pharma praised for its focus after end to COVID-19 study