Foresite Capital Management VI LLC Acquires Shares of 1,581,233 Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS)

Foresite Capital Management VI LLC acquired a new stake in Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,581,233 shares of the company's stock, valued at approximately $8,460,000. Corvus Pharmaceuticals accounts for about 3.8% of Foresite Capital Management VI LLC's investment portfolio, making the stock its 9th largest holding. Foresite Capital Management VI LLC owned about 2.46% of Corvus Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in the business. State Street Corp lifted its holdings in shares of Corvus Pharmaceuticals by 48.2% in the third quarter. State Street Corp now owns 178,246 shares of the company's stock valued at $941,000 after purchasing an additional 57,943 shares in the last quarter. Jane Street Group LLC purchased a new stake in Corvus Pharmaceuticals in the 3rd quarter valued at approximately $265,000. Geode Capital Management LLC grew its holdings in Corvus Pharmaceuticals by 22.4% during the 3rd quarter. Geode Capital Management LLC now owns 563,009 shares of the company's stock valued at $2,974,000 after buying an additional 102,869 shares during the last quarter. Virtu Financial LLC purchased a new position in Corvus Pharmaceuticals during the third quarter worth $83,000. Finally, JPMorgan Chase & Co. raised its holdings in shares of Corvus Pharmaceuticals by 441.5% in the third quarter. JPMorgan Chase & Co. now owns 49,556 shares of the company's stock worth $262,000 after acquiring an additional 40,404 shares during the last quarter. Hedge funds and other institutional investors own 46.64% of the company's stock.

Corvus Pharmaceuticals Trading Down 1.9 %

NASDAQ CRVS traded down $0.07 on Thursday, hitting $3.52. 638,063 shares of the stock traded hands, compared to its average volume of 650,069. The company has a market capitalization of $239.84 million, a P/E ratio of -3.78 and a beta of 0.71. The stock has a 50-day moving average of $3.68 and a 200 day moving average of $5.66. Corvus Pharmaceuticals, Inc. has a twelve month low of $1.43 and a twelve month high of $10.00.

Corvus Pharmaceuticals (NASDAQ:CRVS - Get Free Report) last announced its quarterly earnings data on Tuesday, March 25th. The company reported ($0.18) earnings per share for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.06). As a group, equities research analysts expect that Corvus Pharmaceuticals, Inc. will post -0.63 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. HC Wainwright reiterated 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 $15.00 price target (up from $14.00) on shares of Corvus Pharmaceuticals in a report on Wednesday, March 26th. One equities research analyst has rated the stock with a sell rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $15.67.

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.