RTW Investments LP Purchases Shares of 2,679,479 Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS)

RTW Investments LP bought a new stake in Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 2,679,479 shares of the company's stock, valued at approximately $14,335,000. RTW Investments LP owned about 4.17% of Corvus Pharmaceuticals at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of CRVS. Virtus ETF Advisers LLC purchased a new position in shares of Corvus Pharmaceuticals in the 4th quarter valued at approximately $47,000. PKS Advisory Services LLC purchased a new position in shares of Corvus Pharmaceuticals in the 4th quarter valued at approximately $56,000. Alpine Global Management LLC purchased a new position in shares of Corvus Pharmaceuticals in the 4th quarter valued at approximately $62,000. ExodusPoint Capital Management LP purchased a new position in shares of Corvus Pharmaceuticals in the 4th quarter valued at approximately $72,000. Finally, China Universal Asset Management Co. Ltd. purchased a new position in shares of Corvus Pharmaceuticals in the 4th quarter valued at approximately $73,000. 46.64% of the stock is currently owned by hedge funds and other institutional investors.

Corvus Pharmaceuticals Price Performance

Corvus Pharmaceuticals stock traded up $0.01 during mid-day trading on Monday, reaching $3.62. The company had a trading volume of 713,945 shares, compared to its average volume of 720,690. The stock's 50-day simple moving average is $3.54 and its 200-day simple moving average is $5.25. Corvus Pharmaceuticals, Inc. has a 1 year low of $1.75 and a 1 year high of $10.00. The company has a market capitalization of $246.77 million, a P/E ratio of -3.89 and a beta of 0.67.

Corvus Pharmaceuticals (NASDAQ:CRVS - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($0.13) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.13). On average, equities analysts forecast that Corvus Pharmaceuticals, Inc. will post -0.63 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on CRVS shares. StockNews.com raised Corvus Pharmaceuticals from a "sell" rating to a "hold" rating in a report on Monday, May 12th. Oppenheimer restated an "outperform" rating and issued a $17.00 price target (up from $15.00) on shares of Corvus Pharmaceuticals in a research note on Friday, May 9th. Finally, HC Wainwright reiterated a "buy" rating and issued a $11.00 price objective on shares of Corvus Pharmaceuticals in a research report on Wednesday, March 26th. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price 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.