Point72 Asset Management L.P. Has $16.21 Million Stake in Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS)

Point72 Asset Management L.P. lowered its position in shares of Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS - Free Report) by 45.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,030,011 shares of the company's stock after selling 2,532,718 shares during the quarter. Point72 Asset Management L.P. owned 4.72% of Corvus Pharmaceuticals worth $16,211,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Foresite Capital Management VI LLC acquired a new stake in shares of Corvus Pharmaceuticals in the fourth quarter valued at about $8,460,000. Deerfield Management Company L.P. Series C acquired a new position in Corvus Pharmaceuticals during the fourth quarter valued at approximately $5,350,000. Vivo Capital LLC grew its stake in Corvus Pharmaceuticals by 49.2% in the fourth quarter. Vivo Capital LLC now owns 2,234,566 shares of the company's stock valued at $11,955,000 after purchasing an additional 737,298 shares in the last quarter. EntryPoint Capital LLC bought a new position in Corvus Pharmaceuticals in the fourth quarter valued at approximately $624,000. Finally, Raymond James Financial Inc. acquired a new position in shares of Corvus Pharmaceuticals during the 4th quarter worth approximately $583,000. 46.64% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on CRVS. HC Wainwright reissued a "buy" rating and issued a $11.00 price objective on shares of Corvus Pharmaceuticals in a report on Wednesday, March 26th. Oppenheimer reiterated an "outperform" rating and issued a $17.00 price target (up previously from $15.00) on shares of Corvus Pharmaceuticals in a research note on Friday, May 9th. Mizuho set a $11.00 price objective on shares of Corvus Pharmaceuticals and gave the company an "outperform" rating in a research report on Tuesday. Finally, Wall Street Zen lowered shares of Corvus Pharmaceuticals from a "hold" rating to a "sell" rating in a research note on Tuesday. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $15.00.

Corvus Pharmaceuticals Stock Down 0.9%

Shares of CRVS stock traded down $0.03 during trading on Friday, reaching $3.44. 202,836 shares of the company's stock were exchanged, compared to its average volume of 724,726. Corvus Pharmaceuticals, Inc. has a twelve month low of $1.75 and a twelve month high of $10.00. The firm's fifty day moving average price is $3.48 and its 200-day moving average price is $5.19. The stock has a market capitalization of $234.50 million, a PE ratio of -3.70 and a beta of 0.67.

Corvus Pharmaceuticals (NASDAQ:CRVS - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported ($0.13) EPS for the quarter, hitting analysts' consensus estimates of ($0.13). As a group, analysts anticipate that Corvus Pharmaceuticals, Inc. will post -0.63 EPS for the current fiscal 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.