Foresite Capital Management VI LLC Trims Stake in Corvus Pharmaceuticals, Inc. $CRVS

Foresite Capital Management VI LLC lowered its position in Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) by 20.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,381,233 shares of the company’s stock after selling 350,000 shares during the period. Corvus Pharmaceuticals makes up approximately 3.2% of Foresite Capital Management VI LLC’s investment portfolio, making the stock its 11th biggest holding. Foresite Capital Management VI LLC’s holdings in Corvus Pharmaceuticals were worth $10,635,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Quarry LP purchased a new stake in shares of Corvus Pharmaceuticals in the third quarter worth approximately $27,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Corvus Pharmaceuticals by 26.0% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,629 shares of the company’s stock valued at $28,000 after acquiring an additional 748 shares during the period. Russell Investments Group Ltd. bought a new position in Corvus Pharmaceuticals in the 3rd quarter valued at $49,000. Sender Co & Partners Inc. purchased a new stake in Corvus Pharmaceuticals in the second quarter worth $52,000. Finally, Bayesian Capital Management LP purchased a new stake in Corvus Pharmaceuticals in the second quarter worth $70,000. Hedge funds and other institutional investors own 46.64% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CRVS. The Goldman Sachs Group initiated coverage on shares of Corvus Pharmaceuticals in a research note on Friday, April 17th. They set a “buy” rating and a $40.00 target price for the company. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Corvus Pharmaceuticals in a research note on Friday, March 13th. Oppenheimer reissued an “outperform” rating and issued a $33.00 price objective (up from $32.00) on shares of Corvus Pharmaceuticals in a research report on Friday, March 13th. Wall Street Zen downgraded shares of Corvus Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Finally, Weiss Ratings raised shares of Corvus Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, April 29th. Six research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $33.33.

Insider Activity at Corvus Pharmaceuticals

In other Corvus Pharmaceuticals news, Director David Scott Moore purchased 21,700 shares of Corvus Pharmaceuticals stock in a transaction dated Thursday, June 11th. The stock was acquired at an average price of $11.53 per share, for a total transaction of $250,201.00. Following the acquisition, the director owned 21,700 shares in the company, valued at $250,201. This trade represents a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 19.70% of the company’s stock.

Corvus Pharmaceuticals Trading Down 0.3%

Shares of Corvus Pharmaceuticals stock opened at $11.90 on Tuesday. The firm has a market cap of $1.00 billion, a P/E ratio of -22.88 and a beta of 0.84. Corvus Pharmaceuticals, Inc. has a 12 month low of $3.55 and a 12 month high of $26.95. The stock’s fifty day moving average price is $13.95 and its 200-day moving average price is $13.71.

Corvus Pharmaceuticals (NASDAQ:CRVS) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.01). Analysts forecast that Corvus Pharmaceuticals, Inc. will post -0.7 earnings per share for the current year.

About Corvus Pharmaceuticals

Corvus Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of next-generation immuno-oncology therapies. The company’s research efforts are centered on harnessing both the innate and adaptive immune systems to counteract tumor-driven immunosuppression. By targeting key pathways that regulate immune cell function, Corvus aims to create novel agents that can be combined with existing cancer treatments to improve patient outcomes.

Corvus’s lead pipeline candidates include small-molecule and antibody therapies designed to inhibit the adenosine pathway, a known mediator of tumor immune escape.