EntryPoint Capital LLC Decreases Stake in Corvus Pharmaceuticals, Inc. $CRVS

Key Points

• EntryPoint Capital LLC reduced its stake in Corvus Pharmaceuticals by 53.9%, ending up with 53,745 shares worth approximately $171,000.
• Director Peter A. Thompson sold over 1.17 million shares of Corvus Pharmaceuticals, decreasing his ownership by 14.10%, valued at about $4.89 million.
• Several brokerages have upgraded Corvus Pharmaceuticals' stock ratings, with an average price target now set at $15.00 and a general outlook of "Buy."

EntryPoint Capital LLC cut its holdings in Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS - Free Report) by 53.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,745 shares of the company's stock after selling 62,900 shares during the quarter. EntryPoint Capital LLC owned 0.08% of Corvus Pharmaceuticals worth $171,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Geode Capital Management LLC boosted its stake in shares of Corvus Pharmaceuticals by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 566,863 shares of the company's stock valued at $3,034,000 after buying an additional 3,854 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of Corvus Pharmaceuticals by 1.1% in the fourth quarter. Renaissance Technologies LLC now owns 390,688 shares of the company's stock valued at $2,090,000 after buying an additional 4,100 shares in the last quarter. Oppenheimer & Co. Inc. boosted its stake in shares of Corvus Pharmaceuticals by 24.9% in the first quarter. Oppenheimer & Co. Inc. now owns 22,534 shares of the company's stock valued at $72,000 after buying an additional 4,490 shares in the last quarter. Masso Torrence Wealth Management Inc. boosted its stake in shares of Corvus Pharmaceuticals by 16.7% in the first quarter. Masso Torrence Wealth Management Inc. now owns 35,000 shares of the company's stock valued at $111,000 after buying an additional 5,000 shares in the last quarter. Finally, Virtus ETF Advisers LLC purchased a new stake in shares of Corvus Pharmaceuticals in the fourth quarter valued at approximately $47,000. 46.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Corvus Pharmaceuticals

In other news, Director Peter A. Thompson sold 1,176,332 shares of the business's stock in a transaction on Friday, June 27th. The stock was sold at an average price of $4.16, for a total value of $4,893,541.12. Following the completion of the transaction, the director directly owned 7,165,006 shares of the company's stock, valued at $29,806,424.96. The trade was a 14.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 28.50% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CRVS. Wall Street Zen raised Corvus Pharmaceuticals from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Mizuho set a $11.00 price objective on Corvus Pharmaceuticals and gave the stock an "outperform" rating in a report on Tuesday, May 20th. Finally, Oppenheimer reaffirmed an "outperform" rating and set a $17.00 price objective (up from $15.00) on shares of Corvus Pharmaceuticals in a report on Friday, May 9th. Four equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $15.00.

Corvus Pharmaceuticals Stock Up 4.9%

NASDAQ CRVS opened at $5.55 on Monday. Corvus Pharmaceuticals, Inc. has a fifty-two week low of $2.54 and a fifty-two week high of $10.00. The stock has a market cap of $413.55 million, a price-to-earnings ratio of -5.50 and a beta of 0.42. The business has a fifty day moving average of $4.37 and a 200-day moving average of $4.03.

Corvus Pharmaceuticals (NASDAQ:CRVS - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported ($0.10) earnings per share for the quarter, topping analysts' consensus estimates of ($0.13) by $0.03. As a group, analysts anticipate that Corvus Pharmaceuticals, Inc. will post -0.63 EPS for the current year.

About Corvus Pharmaceuticals

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.

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