Geode Capital Management LLC Increases Stake in Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS)

Geode Capital Management LLC boosted its holdings in shares of Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) by 22.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 563,009 shares of the company’s stock after buying an additional 102,869 shares during the quarter. Geode Capital Management LLC owned 0.90% of Corvus Pharmaceuticals worth $2,974,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Point72 Asset Management L.P. purchased a new stake in shares of Corvus Pharmaceuticals in the 2nd quarter valued at approximately $10,855,000. Samlyn Capital LLC lifted its position in shares of 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 purchasing an additional 3,774,658 shares during the last quarter. Marshall Wace LLP acquired a new position in shares of Corvus Pharmaceuticals during the second quarter worth $136,000. State Street Corp increased its holdings in Corvus Pharmaceuticals by 48.2% in the third quarter. State Street Corp now owns 178,246 shares of the company’s stock valued at $941,000 after buying an additional 57,943 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in Corvus Pharmaceuticals by 64.7% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 137,031 shares of the company’s stock valued at $724,000 after buying an additional 53,809 shares in the last quarter. Hedge funds and other institutional investors own 46.64% of the company’s stock.

Corvus Pharmaceuticals Trading Down 4.6 %

Shares of NASDAQ CRVS opened at $5.75 on Wednesday. The stock has a market cap of $369.48 million, a P/E ratio of -6.18 and a beta of 1.07. Corvus Pharmaceuticals, Inc. has a twelve month low of $1.30 and a twelve month high of $10.00. The stock has a 50 day moving average of $7.62 and a two-hundred day moving average of $5.36.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Mizuho raised Corvus Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 22nd. HC Wainwright assumed coverage on Corvus Pharmaceuticals in a report on Thursday, January 2nd. They issued a “buy” rating and a $11.00 price target for the company. LADENBURG THALM/SH SH raised their price objective on shares of Corvus Pharmaceuticals from $12.00 to $21.00 and gave the stock a “buy” rating in a report on Monday, September 16th. StockNews.com cut shares of Corvus Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Thursday, October 31st. Finally, Oppenheimer increased their target price on shares of Corvus Pharmaceuticals from $8.00 to $14.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. One analyst has rated the stock with a sell rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $12.38.

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.