Point72 Asset Management L.P. Takes Position in Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS)

Point72 Asset Management L.P. acquired a new stake in Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 5,964,510 shares of the company’s stock, valued at approximately $10,855,000. Point72 Asset Management L.P. owned approximately 9.54% of Corvus Pharmaceuticals as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CRVS. Towerview LLC increased its position in Corvus Pharmaceuticals by 4.6% during the 2nd quarter. Towerview LLC now owns 400,000 shares of the company’s stock worth $728,000 after purchasing an additional 17,500 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new position in shares of Corvus Pharmaceuticals during the second quarter worth $44,000. Marshall Wace LLP bought a new position in shares of Corvus Pharmaceuticals in the 2nd quarter valued at $136,000. Vanguard Group Inc. boosted its holdings in shares of Corvus Pharmaceuticals by 10.6% during the 1st quarter. Vanguard Group Inc. now owns 1,493,357 shares of the company’s stock valued at $2,658,000 after acquiring an additional 142,724 shares in the last quarter. Finally, Samlyn Capital LLC grew its position in Corvus Pharmaceuticals by 160.7% during the 2nd quarter. Samlyn Capital LLC now owns 6,123,021 shares of the company’s stock worth $11,144,000 after acquiring an additional 3,774,658 shares during the last quarter. Institutional investors own 46.64% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on CRVS shares. LADENBURG THALM/SH SH increased their target price on Corvus Pharmaceuticals from $12.00 to $21.00 and gave the company a “buy” rating in a research report on Monday, September 16th. StockNews.com lowered shares of Corvus Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Friday. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $10.83.

Corvus Pharmaceuticals Trading Up 2.5 %

NASDAQ CRVS opened at $5.28 on Tuesday. The firm has a market capitalization of $330.27 million, a PE ratio of -10.15 and a beta of 1.13. The business’s 50-day moving average price is $4.03 and its two-hundred day moving average price is $2.63. Corvus Pharmaceuticals, Inc. has a 12 month low of $1.05 and a 12 month high of $6.15.

Corvus Pharmaceuticals (NASDAQ:CRVS) last issued its quarterly earnings results on Tuesday, August 6th. The company reported ($0.07) EPS for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.05. During the same quarter in the prior year, the firm posted ($0.14) EPS. As a group, analysts forecast that Corvus Pharmaceuticals, Inc. will post -0.45 earnings per share for the current fiscal year.

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.