Vivo Capital LLC grew its stake in Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS – Free Report) by 25.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,805,816 shares of the company’s stock after purchasing an additional 571,250 shares during the quarter. Corvus Pharmaceuticals comprises about 3.4% of Vivo Capital LLC’s holdings, making the stock its 9th biggest holding. Vivo Capital LLC’s holdings in Corvus Pharmaceuticals were worth $41,049,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Corvus Pharmaceuticals by 26.0% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,629 shares of the company’s stock valued at $28,000 after purchasing an additional 748 shares in the last quarter. Quarry LP bought a new position in Corvus Pharmaceuticals in the third quarter worth about $27,000. Russell Investments Group Ltd. bought a new position in Corvus Pharmaceuticals in the third quarter worth about $49,000. Teachers Retirement System of The State of Kentucky purchased a new stake in Corvus Pharmaceuticals in the first quarter worth about $117,000. Finally, Truvestments Capital LLC lifted its holdings in Corvus Pharmaceuticals by 86.1% in the fourth quarter. Truvestments Capital LLC now owns 10,257 shares of the company’s stock worth $79,000 after buying an additional 4,744 shares during the period. 46.64% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
CRVS has been the topic of a number of research analyst reports. Wall Street Zen downgraded Corvus Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. The Goldman Sachs Group assumed coverage on Corvus Pharmaceuticals in a research note on Friday, April 17th. They issued a “buy” rating and a $40.00 target price for the company. Finally, Weiss Ratings upgraded Corvus Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday. Six research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $33.33.
Insider Activity at Corvus Pharmaceuticals
In related news, Director David Scott Moore purchased 21,700 shares of the company’s stock in a transaction dated 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 transaction, the director directly owned 21,700 shares in the company, valued at $250,201. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 19.70% of the stock is currently owned by corporate insiders.
Corvus Pharmaceuticals Price Performance
Shares of NASDAQ CRVS opened at $13.19 on Friday. Corvus Pharmaceuticals, Inc. has a 1 year low of $3.96 and a 1 year high of $26.95. The firm has a 50-day moving average of $13.28 and a 200 day moving average of $15.11. The stock has a market cap of $1.11 billion, a P/E ratio of -25.36 and a beta of 0.82.
Corvus Pharmaceuticals (NASDAQ:CRVS – Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.01). Research analysts expect that Corvus Pharmaceuticals, Inc. will post -0.7 earnings per share for the current fiscal year.
About Corvus Pharmaceuticals
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.
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