Seven Fleet Capital Management LP Takes Position in Corvus Pharmaceuticals, Inc. $CRVS

Seven Fleet Capital Management LP purchased a new stake in shares of Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 82,890 shares of the company’s stock, valued at approximately $1,238,377,000.

Other hedge funds have also bought and sold shares of the company. Orbimed Advisors LLC raised its holdings 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 acquiring an additional 221,352 shares during the period. BlackRock Inc. bought a new position in shares of Corvus Pharmaceuticals in the second quarter worth $106,654,000. Vanguard Group Inc. grew its position in shares of Corvus Pharmaceuticals by 5.8% in the third quarter. Vanguard Group Inc. now owns 3,471,925 shares of the company’s stock valued at $25,588,000 after purchasing an additional 191,216 shares in the last quarter. Vivo Capital LLC raised its stake in shares of Corvus Pharmaceuticals by 25.6% during the 1st quarter. Vivo Capital LLC now owns 2,805,816 shares of the company’s stock valued at $41,049,000 after purchasing an additional 571,250 shares during the period. Finally, State Street Corp raised its stake in shares of Corvus Pharmaceuticals by 177.1% during 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 currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on the company. Weiss Ratings upgraded Corvus Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a research note 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 lowered shares of Corvus Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. One 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, Corvus Pharmaceuticals has an average rating of “Moderate Buy” and an average price target of $33.33.

Corvus Pharmaceuticals Trading Up 1.2%

Shares of CRVS opened at $14.73 on Thursday. The company has a market cap of $1.24 billion, a PE ratio of -24.15 and a beta of 0.87. The stock has a 50-day moving average price of $14.21 and a 200-day moving average price of $14.74. Corvus Pharmaceuticals, Inc. has a 12-month low of $5.28 and a 12-month high of $26.95.

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

Insider Activity

In other news, Director David Scott Moore purchased 21,700 shares of the company’s stock in a transaction on Thursday, June 11th. The stock was purchased at an average price of $11.53 per share, with a total value of $250,201.00. Following the completion of the purchase, the director directly owned 21,700 shares in the company, valued at approximately $250,201. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 19.70% of the company’s stock.

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.