JPMorgan Chase & Co. Buys 40,404 Shares of Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS)

JPMorgan Chase & Co. lifted its stake in shares of Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) by 441.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 49,556 shares of the company’s stock after purchasing an additional 40,404 shares during the quarter. JPMorgan Chase & Co. owned 0.08% of Corvus Pharmaceuticals worth $262,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Cubist Systematic Strategies LLC purchased a new position in Corvus Pharmaceuticals during the 2nd quarter valued at about $44,000. Nwam LLC bought a new position in shares of Corvus Pharmaceuticals in the third quarter valued at approximately $53,000. XTX Topco Ltd purchased a new position in Corvus Pharmaceuticals during the third quarter valued at approximately $74,000. Virtu Financial LLC bought a new stake in Corvus Pharmaceuticals during the 3rd quarter worth approximately $83,000. Finally, Oppenheimer & Co. Inc. purchased a new stake in Corvus Pharmaceuticals in the 3rd quarter worth approximately $89,000. Hedge funds and other institutional investors own 46.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Oppenheimer upped their price target on shares of Corvus Pharmaceuticals from $8.00 to $14.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. StockNews.com cut Corvus Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Thursday, October 31st. Mizuho upgraded Corvus Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 22nd. Finally, HC Wainwright restated a “buy” rating and issued a $11.00 price objective on shares of Corvus Pharmaceuticals in a research report on Tuesday, January 14th. One equities research analyst has rated the stock with a sell rating, four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $12.38.

Corvus Pharmaceuticals Price Performance

CRVS opened at $5.36 on Friday. The stock’s 50 day simple moving average is $6.26 and its 200 day simple moving average is $5.76. The firm has a market cap of $344.43 million, a price-to-earnings ratio of -5.76 and a beta of 1.07. Corvus Pharmaceuticals, Inc. has a 1 year low of $1.30 and a 1 year high of $10.00.

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.