1,000,000 Shares in Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) Acquired by Deerfield Management Company L.P. Series C

Deerfield Management Company L.P. Series C acquired a new position in shares of Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 1,000,000 shares of the company's stock, valued at approximately $5,350,000. Deerfield Management Company L.P. Series C owned 1.56% of Corvus Pharmaceuticals at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of CRVS. Foresite Capital Management VI LLC purchased a new stake in Corvus Pharmaceuticals during the fourth quarter valued at about $8,460,000. Vivo Capital LLC increased its holdings in shares of Corvus Pharmaceuticals by 49.2% during the 4th quarter. Vivo Capital LLC now owns 2,234,566 shares of the company's stock valued at $11,955,000 after acquiring an additional 737,298 shares during the last quarter. EntryPoint Capital LLC bought a new position in Corvus Pharmaceuticals in the fourth quarter worth $624,000. Raymond James Financial Inc. acquired a new position in Corvus Pharmaceuticals in the fourth quarter valued at about $583,000. Finally, Barclays PLC increased its stake in shares of Corvus Pharmaceuticals by 10,601,800.0% in the 4th quarter. Barclays PLC now owns 106,019 shares of the company's stock valued at $567,000 after buying an additional 106,018 shares during the period. 46.64% of the stock is owned by hedge funds and other institutional investors.

Corvus Pharmaceuticals Stock Down 3.2%

Shares of CRVS stock traded down $0.13 during mid-day trading on Tuesday, reaching $3.92. 569,822 shares of the company's stock traded hands, compared to its average volume of 708,532. The company's 50-day moving average price is $3.61 and its 200-day moving average price is $5.43. Corvus Pharmaceuticals, Inc. has a 12 month low of $1.75 and a 12 month high of $10.00. The company has a market cap of $267.22 million, a P/E ratio of -4.22 and a beta of 0.67.

Corvus Pharmaceuticals (NASDAQ:CRVS - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported ($0.13) earnings per share for the quarter, meeting the consensus estimate of ($0.13). Equities analysts predict that Corvus Pharmaceuticals, Inc. will post -0.63 earnings per share for the current year.

Wall Street Analyst Weigh In

CRVS has been the subject of several research reports. HC Wainwright restated a "buy" rating and set a $11.00 price objective on shares of Corvus Pharmaceuticals in a research report on Wednesday, March 26th. Oppenheimer reiterated an "outperform" rating and set a $17.00 price objective (up from $15.00) on shares of Corvus Pharmaceuticals in a report on Friday. Finally, StockNews.com upgraded Corvus Pharmaceuticals from a "sell" rating to a "hold" rating in a research note on Monday. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $16.33.

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.