Seven Fleet Capital Management LP Takes $1.24 Billion Position in Corvus Pharmaceuticals, Inc. $CRVS

Seven Fleet Capital Management LP purchased a new position in Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 82,890 shares of the company’s stock, valued at approximately $1,238,377,000. Seven Fleet Capital Management LP owned approximately 0.10% of Corvus Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in CRVS. The Manufacturers Life Insurance Company raised its holdings in Corvus Pharmaceuticals by 481.7% during the first quarter. The Manufacturers Life Insurance Company now owns 101,779 shares of the company’s stock worth $1,489,000 after buying an additional 84,282 shares during the last quarter. DCF Advisers LLC acquired a new position in shares of Corvus Pharmaceuticals during the second quarter valued at about $9,524,000. Blue Owl Capital Holdings LP bought a new stake in shares of Corvus Pharmaceuticals during the second quarter worth about $9,092,000. Renaissance Technologies LLC acquired a new stake in shares of Corvus Pharmaceuticals in the 1st quarter worth about $1,190,000. Finally, Avidity Partners Management LP acquired a new stake in shares of Corvus Pharmaceuticals in the 1st quarter worth about $1,682,000. Institutional investors and hedge funds own 46.64% of the company’s stock.

Insider Buying and Selling at Corvus Pharmaceuticals

In related news, Director David Scott Moore purchased 21,700 shares of the stock in a transaction that occurred on Thursday, June 11th. The shares were bought at an average price of $11.53 per share, with a total value of $250,201.00. Following the acquisition, the director owned 21,700 shares of the company’s stock, valued at $250,201. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 19.70% of the stock is owned by corporate insiders.

Corvus Pharmaceuticals Price Performance

Shares of Corvus Pharmaceuticals stock opened at $14.73 on Thursday. The firm has a market cap of $1.24 billion, a PE ratio of -24.15 and a beta of 0.87. Corvus Pharmaceuticals, Inc. has a 1 year low of $5.28 and a 1 year high of $26.95. The stock has a fifty day moving average price of $14.21 and a 200-day moving average price of $14.74.

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

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CRVS. Weiss Ratings raised Corvus Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, July 28th. LADENBURG THALM/SH SH raised Corvus Pharmaceuticals to a “strong-buy” rating in a research report on Thursday, July 30th. Finally, Wall Street Zen downgraded Corvus Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $33.33.

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.