Squarepoint Ops LLC Sells 79,691 Shares of Corvus Pharmaceuticals, Inc. $CRVS

Key Points

• Squarepoint Ops LLC reduced its Corvus Pharmaceuticals stake by 64.3% in the second quarter, selling 79,691 shares and retaining 44,205 shares valued at approximately $660,000.
• Other institutional investors, including Braidwell, UBS Asset Management and Wellington Management, increased their positions; institutional investors collectively own 46.64% of CRVS.
• CRVS opened at $12.56, while analysts maintain a consensus “Moderate Buy” rating with a $33.33 price target. Corvus reported a quarterly loss of $0.19 per share, missing estimates by $0.03.

Squarepoint Ops LLC cut its position in Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS - Free Report) by 64.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 44,205 shares of the company's stock after selling 79,691 shares during the quarter. Squarepoint Ops LLC owned 0.05% of Corvus Pharmaceuticals worth $660,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Arizona State Retirement System bought a new stake in Corvus Pharmaceuticals during the second quarter worth $260,000. Braidwell LP lifted its position in shares of Corvus Pharmaceuticals by 21.3% during the 2nd quarter. Braidwell LP now owns 2,126,298 shares of the company's stock worth $31,767,000 after buying an additional 373,500 shares during the last quarter. Ancora Advisors LLC boosted its stake in Corvus Pharmaceuticals by 3.6% in the second quarter. Ancora Advisors LLC now owns 56,723 shares of the company's stock valued at $847,000 after buying an additional 1,955 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Corvus Pharmaceuticals by 1,116.0% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 74,369 shares of the company's stock valued at $1,111,000 after acquiring an additional 68,253 shares during the last quarter. Finally, Wellington Management Group LLP raised its stake in Corvus Pharmaceuticals by 17.8% during the second quarter. Wellington Management Group LLP now owns 2,731,632 shares of the company's stock worth $40,811,000 after acquiring an additional 413,115 shares in the last quarter. Institutional investors and hedge funds own 46.64% of the company's stock.

Corvus Pharmaceuticals Stock Performance

NASDAQ:CRVS opened at $12.56 on Friday. The firm has a market cap of $1.06 billion, a P/E ratio of -20.59 and a beta of 0.87. Corvus Pharmaceuticals, Inc. has a 52 week low of $5.74 and a 52 week high of $26.95. The firm's fifty day moving average is $14.00 and its 200-day moving average is $14.18.

Corvus Pharmaceuticals (NASDAQ:CRVS - Get Free Report) last announced 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, sell-side analysts anticipate that Corvus Pharmaceuticals, Inc. will post -0.79 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on CRVS shares. LADENBURG THALM/SH SH upgraded shares of Corvus Pharmaceuticals to a "strong-buy" rating in a research note on Thursday, July 30th. Weiss Ratings raised shares of Corvus Pharmaceuticals from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Tuesday, July 28th. Finally, Cantor Fitzgerald restated an "overweight" rating on shares of Corvus Pharmaceuticals in a research report on Wednesday. One investment 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's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $33.33.

Corvus Pharmaceuticals Profile

Corvus Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on developing medicines that regulate the immune system to treat cancer and other serious diseases. The company's research is centered on small-molecule and antibody-based therapies designed to influence immune-cell activity and improve the body's ability to respond to disease.

Corvus' lead investigational product is soquelitinib, also known as CPI-818, an oral, selective inhibitor of interleukin-2-inducible T-cell kinase (ITK).

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