Foresite Capital Management VI LLC Acquires 150,000 Shares of Corvus Pharmaceuticals, Inc. $CRVS

Foresite Capital Management VI LLC boosted its holdings in Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) by 9.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,731,233 shares of the company’s stock after buying an additional 150,000 shares during the period. Corvus Pharmaceuticals makes up about 3.9% of Foresite Capital Management VI LLC’s investment portfolio, making the stock its 9th largest position. Foresite Capital Management VI LLC’s holdings in Corvus Pharmaceuticals were worth $6,925,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of CRVS. American Century Companies Inc. increased its position in Corvus Pharmaceuticals by 103.9% during the first quarter. American Century Companies Inc. now owns 89,265 shares of the company’s stock worth $284,000 after acquiring an additional 45,491 shares during the period. Wellington Management Group LLP bought a new position in Corvus Pharmaceuticals during the first quarter valued at about $333,000. Jump Financial LLC bought a new position in Corvus Pharmaceuticals during the first quarter valued at about $143,000. OMERS ADMINISTRATION Corp raised its holdings in Corvus Pharmaceuticals by 9.0% in the 1st quarter. OMERS ADMINISTRATION Corp now owns 82,300 shares of the company’s stock valued at $262,000 after acquiring an additional 6,800 shares in the last quarter. Finally, Masso Torrence Wealth Management Inc. lifted its position in shares of Corvus Pharmaceuticals by 42.9% in the 2nd quarter. Masso Torrence Wealth Management Inc. now owns 50,000 shares of the company’s stock worth $200,000 after acquiring an additional 15,000 shares during the period. 46.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently commented on CRVS. Wall Street Zen raised Corvus Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Barclays began coverage on shares of Corvus Pharmaceuticals in a report on Monday, October 13th. They set an “overweight” rating and a $16.00 price objective for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Corvus Pharmaceuticals in a research note on Wednesday, October 8th. Finally, Mizuho set a $13.00 price target on shares of Corvus Pharmaceuticals in a research note on Wednesday, October 29th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $14.25.

Corvus Pharmaceuticals Stock Performance

Shares of NASDAQ:CRVS opened at $8.58 on Tuesday. The business has a fifty day moving average of $7.42 and a 200-day moving average of $5.51. Corvus Pharmaceuticals, Inc. has a twelve month low of $2.54 and a twelve month high of $9.55. The firm has a market cap of $640.75 million, a PE ratio of -16.19 and a beta of 0.56.

Corvus Pharmaceuticals (NASDAQ:CRVS) last announced its earnings results on Tuesday, November 4th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.02. On average, analysts anticipate that Corvus Pharmaceuticals, Inc. will post -0.63 EPS for the current fiscal year.

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.