Seven Fleet Capital Management LP Makes New Investment in Corvus Pharmaceuticals, Inc. $CRVS

Seven Fleet Capital Management LP purchased a new stake in Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) during the 1st quarter, Holdings Channel.com reports. The institutional investor purchased 82,890 shares of the company’s stock, valued at approximately $1,213,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Quarry LP acquired a new stake in shares of Corvus Pharmaceuticals during the 3rd quarter valued at $27,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Corvus Pharmaceuticals by 26.0% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,629 shares of the company’s stock worth $28,000 after acquiring an additional 748 shares during the last quarter. Russell Investments Group Ltd. acquired a new position in shares of Corvus Pharmaceuticals in the 3rd quarter worth $49,000. Sender Co & Partners Inc. acquired a new stake in shares of Corvus Pharmaceuticals during the second quarter worth $52,000. Finally, Bayesian Capital Management LP acquired a new stake in shares of Corvus Pharmaceuticals during the second quarter worth $70,000. Institutional investors and hedge funds own 46.64% of the company’s stock.

Corvus Pharmaceuticals Stock Performance

NASDAQ CRVS opened at $13.26 on Friday. Corvus Pharmaceuticals, Inc. has a twelve month low of $3.96 and a twelve month high of $26.95. The stock has a market cap of $1.12 billion, a price-to-earnings ratio of -25.50 and a beta of 0.82. The firm’s 50 day moving average price is $13.30 and its two-hundred day moving average price is $15.10.

Corvus Pharmaceuticals (NASDAQ:CRVS) last announced its earnings results on Thursday, May 7th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.01). On average, research analysts forecast that Corvus Pharmaceuticals, Inc. will post -0.7 EPS for the current fiscal year.

Insiders Place Their Bets

In other Corvus Pharmaceuticals news, Director David Scott Moore purchased 21,700 shares of the company’s stock in a transaction that occurred on Thursday, June 11th. The shares were purchased at an average cost of $11.53 per share, with a total value of $250,201.00. Following the completion of the transaction, the director owned 21,700 shares of the company’s stock, valued at approximately $250,201. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 19.70% of the company’s stock.

Analysts Set New Price Targets

CRVS has been the subject of several analyst reports. Wall Street Zen downgraded Corvus Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. LADENBURG THALM/SH SH raised Corvus Pharmaceuticals to a “strong-buy” rating in a research note on Thursday. The Goldman Sachs Group assumed coverage on Corvus Pharmaceuticals in a report on Friday, April 17th. They set a “buy” rating and a $40.00 price objective on the stock. Finally, Weiss Ratings raised shares of Corvus Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $33.33.

Corvus Pharmaceuticals Company 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.