Seven Fleet Capital Management LP Acquires New Holdings in Corvus Pharmaceuticals, Inc. $CRVS

Seven Fleet Capital Management LP bought a new position in Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 82,890 shares of the company’s stock, valued at approximately $1,238,377. Seven Fleet Capital Management LP owned about 0.10% of Corvus Pharmaceuticals as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of CRVS. Orbimed Advisors LLC grew its stake in 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. BlackRock Inc. acquired a new stake in shares of Corvus Pharmaceuticals in the 2nd quarter valued at about $106,654,000. 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 valued at $25,588,000 after buying an additional 191,216 shares in the last quarter. Vivo Capital LLC grew its position in Corvus Pharmaceuticals by 25.6% in the first quarter. Vivo Capital LLC now owns 2,805,816 shares of the company’s stock worth $41,049,000 after acquiring an additional 571,250 shares in the last quarter. Finally, State Street Corp grew its stake in shares of Corvus Pharmaceuticals by 177.1% in the 4th quarter. State Street Corp now owns 2,788,223 shares of the company’s stock valued at $21,469,000 after purchasing an additional 1,781,904 shares during the period. 46.64% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on CRVS shares. Weiss Ratings upgraded Corvus Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, July 28th. LADENBURG THALM/SH SH upgraded Corvus Pharmaceuticals to a “strong-buy” rating in a research report on Thursday, July 30th. Finally, Wall Street Zen cut shares of Corvus Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $33.33.

Corvus Pharmaceuticals Price Performance

CRVS traded down $0.56 on Friday, reaching $14.16. 644,532 shares of the company’s stock were exchanged, compared to its average volume of 2,077,640. The stock’s fifty day moving average price is $14.27 and its 200-day moving average price is $14.69. The stock has a market cap of $1.19 billion, a PE ratio of -23.21 and a beta of 0.87. Corvus Pharmaceuticals, Inc. has a twelve month low of $5.34 and a twelve month high of $26.95.

Corvus Pharmaceuticals (NASDAQ:CRVS) last released its earnings results on Thursday, August 6th. The company reported ($0.19) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.03). As a group, research analysts predict that Corvus Pharmaceuticals, Inc. will post -0.79 earnings per share for the current fiscal year.

Insider Activity

In related news, Director David Scott Moore acquired 21,700 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The stock was bought at an average price of $11.53 per share, for a total transaction of $250,201.00. Following the acquisition, the director directly owned 21,700 shares of the company’s stock, valued at $250,201. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 19.70% of the stock is currently owned by insiders.

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.