Vivo Capital LLC Has $41.05 Million Position in Corvus Pharmaceuticals, Inc. $CRVS

Vivo Capital LLC boosted its position in Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) by 25.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,805,816 shares of the company’s stock after buying an additional 571,250 shares during the quarter. Corvus Pharmaceuticals makes up approximately 3.4% of Vivo Capital LLC’s portfolio, making the stock its 9th biggest position. Vivo Capital LLC owned about 3.34% of Corvus Pharmaceuticals worth $41,049,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. Orbimed Advisors LLC lifted its holdings in shares of Corvus Pharmaceuticals by 3.2% in the 2nd quarter. Orbimed Advisors LLC now owns 7,165,006 shares of the company’s stock worth $28,660,000 after acquiring an additional 221,352 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Corvus Pharmaceuticals by 5.8% during the 3rd quarter. Vanguard Group Inc. now owns 3,471,925 shares of the company’s stock valued at $25,588,000 after purchasing an additional 191,216 shares during the last quarter. State Street Corp grew its holdings in shares of Corvus Pharmaceuticals by 177.1% during the 4th quarter. State Street Corp now owns 2,788,223 shares of the company’s stock valued at $21,469,000 after purchasing an additional 1,781,904 shares during the last quarter. MPM Bioimpact LLC purchased a new position in Corvus Pharmaceuticals in the 4th quarter worth $21,126,000. Finally, Commodore Capital LP purchased a new position in Corvus Pharmaceuticals in the 1st quarter worth $33,045,000. 46.64% of the stock is owned by hedge funds and other institutional investors.

Corvus Pharmaceuticals Stock Up 1.2%

NASDAQ:CRVS opened at $13.19 on Friday. The firm has a market capitalization of $1.11 billion, a P/E ratio of -25.36 and a beta of 0.82. The company has a fifty day moving average of $13.28 and a 200 day moving average of $15.11. Corvus Pharmaceuticals, Inc. has a 52 week low of $3.96 and a 52 week high of $26.95.

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

Insider Transactions at Corvus Pharmaceuticals

In other Corvus Pharmaceuticals news, Director David Scott Moore purchased 21,700 shares of Corvus Pharmaceuticals stock in a transaction that occurred on Thursday, June 11th. The shares were bought at an average price of $11.53 per share, for a total transaction of $250,201.00. Following the acquisition, the director directly owned 21,700 shares in the company, valued at approximately $250,201. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 19.70% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on CRVS shares. Weiss Ratings upgraded shares of Corvus Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday. Wall Street Zen lowered Corvus Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Finally, The Goldman Sachs Group assumed coverage on Corvus Pharmaceuticals in a report on Friday, April 17th. They set a “buy” rating and a $40.00 target price for the company. Six equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $33.33.

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.