Sphera Funds Management LTD. Buys New Position in Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS)

Sphera Funds Management LTD. purchased a new stake in Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 500,491 shares of the company's stock, valued at approximately $2,678,000. Sphera Funds Management LTD. owned approximately 0.78% of Corvus Pharmaceuticals at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. RTW Investments LP acquired a new stake in shares of Corvus Pharmaceuticals during the fourth quarter worth $14,335,000. Man Group plc acquired a new stake in shares of Corvus Pharmaceuticals during the fourth quarter worth $73,000. OMERS ADMINISTRATION Corp acquired a new stake in shares of Corvus Pharmaceuticals during the fourth quarter worth $404,000. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of Corvus Pharmaceuticals during the fourth quarter worth $214,000. Finally, Graham Capital Management L.P. acquired a new stake in shares of Corvus Pharmaceuticals during the fourth quarter worth $98,000. 46.64% of the stock is owned by institutional investors and hedge funds.

Corvus Pharmaceuticals Price Performance

Shares of CRVS stock traded up $0.01 during trading hours on Monday, reaching $3.62. The stock had a trading volume of 713,945 shares, compared to its average volume of 720,690. Corvus Pharmaceuticals, Inc. has a twelve month low of $1.75 and a twelve month high of $10.00. The firm has a 50-day simple moving average of $3.54 and a 200-day simple moving average of $5.25. The firm has a market capitalization of $246.77 million, a PE ratio of -3.89 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) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.13). On average, equities analysts anticipate that Corvus Pharmaceuticals, Inc. will post -0.63 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. StockNews.com raised shares of Corvus Pharmaceuticals from a "sell" rating to a "hold" rating in a report on Monday, May 12th. Oppenheimer reissued an "outperform" rating and set a $17.00 target price (up from $15.00) on shares of Corvus Pharmaceuticals in a report on Friday, May 9th. Finally, HC Wainwright reissued a "buy" rating and set a $11.00 target price on shares of Corvus Pharmaceuticals in a report on Wednesday, March 26th. One research analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $16.33.

Corvus Pharmaceuticals 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.