Commodore Capital LP Acquires Shares of 2,258,735 Corvus Pharmaceuticals, Inc. $CRVS

Commodore Capital LP acquired a new stake in Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 2,258,735 shares of the company’s stock, valued at approximately $33,045,000. Corvus Pharmaceuticals comprises approximately 1.9% of Commodore Capital LP’s investment portfolio, making the stock its 20th largest position.

A number of other institutional investors and hedge funds have also recently modified their holdings of CRVS. Orbimed Advisors LLC increased its position in shares of Corvus Pharmaceuticals by 3.2% during the 2nd quarter. Orbimed Advisors LLC now owns 7,165,006 shares of the company’s stock valued at $28,660,000 after purchasing an additional 221,352 shares during the last quarter. Vanguard Group Inc. boosted its stake in Corvus Pharmaceuticals by 5.8% during the third quarter. Vanguard Group Inc. now owns 3,471,925 shares of the company’s stock worth $25,588,000 after buying an additional 191,216 shares during the period. State Street Corp boosted its stake in Corvus Pharmaceuticals by 177.1% during the fourth quarter. State Street Corp now owns 2,788,223 shares of the company’s stock worth $21,469,000 after buying an additional 1,781,904 shares during the period. MPM Bioimpact LLC bought a new position in Corvus Pharmaceuticals during the fourth quarter valued at $21,126,000. Finally, Geode Capital Management LLC increased its position in Corvus Pharmaceuticals by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 1,473,026 shares of the company’s stock valued at $11,345,000 after acquiring an additional 16,498 shares during the last quarter. Hedge funds and other institutional investors own 46.64% of the company’s stock.

Corvus Pharmaceuticals Stock Performance

Shares of CRVS opened at $13.07 on Monday. The firm has a market capitalization of $1.10 billion, a P/E ratio of -25.13 and a beta of 0.82. Corvus Pharmaceuticals, Inc. has a 12-month low of $3.96 and a 12-month high of $26.95. The firm has a fifty day moving average price of $13.21 and a 200-day moving average price of $14.94.

Corvus Pharmaceuticals (NASDAQ:CRVS) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.01). Analysts predict that Corvus Pharmaceuticals, Inc. will post -0.7 earnings per share for the current year.

Analyst Upgrades and Downgrades

CRVS has been the subject of several analyst reports. Wall Street Zen lowered shares of Corvus Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Weiss Ratings downgraded shares of Corvus Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, July 10th. Finally, The Goldman Sachs Group initiated coverage on Corvus Pharmaceuticals in a research report on Friday, April 17th. They set a “buy” rating and a $40.00 target price for the company. Six research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Corvus Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus price target of $33.33.

Insider Transactions at Corvus Pharmaceuticals

In related news, Director David Scott Moore bought 21,700 shares of the company’s stock in a transaction on Thursday, June 11th. The shares were acquired at an average cost of $11.53 per share, for a total transaction of $250,201.00. Following the purchase, the director directly owned 21,700 shares of the company’s stock, valued at approximately $250,201. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 19.70% of the stock is currently owned by company insiders.

Corvus Pharmaceuticals Profile

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.