Foresite Capital Management VI LLC Sells 350,000 Shares of Corvus Pharmaceuticals, Inc. $CRVS

Foresite Capital Management VI LLC cut its holdings in shares of Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) by 20.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,381,233 shares of the company’s stock after selling 350,000 shares during the quarter. Corvus Pharmaceuticals makes up about 3.2% of Foresite Capital Management VI LLC’s investment portfolio, making the stock its 11th biggest position. Foresite Capital Management VI LLC owned about 1.65% of Corvus Pharmaceuticals worth $10,635,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in CRVS. Orbimed Advisors LLC raised its position in shares of Corvus Pharmaceuticals by 3.2% during the second quarter. Orbimed Advisors LLC now owns 7,165,006 shares of the company’s stock valued at $28,660,000 after buying an additional 221,352 shares during the last quarter. Vanguard Group Inc. lifted its stake in Corvus Pharmaceuticals by 5.8% in the 3rd quarter. Vanguard Group Inc. now owns 3,471,925 shares of the company’s stock worth $25,588,000 after purchasing an additional 191,216 shares in the last quarter. State Street Corp boosted 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. Geode Capital Management LLC grew its position in shares of Corvus Pharmaceuticals by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 1,473,026 shares of the company’s stock valued at $11,345,000 after purchasing an additional 16,498 shares in the last quarter. Finally, Perceptive Advisors LLC purchased a new position in shares of Corvus Pharmaceuticals during the second quarter valued at about $5,754,000. 46.64% of the stock is currently owned by hedge funds and other institutional investors.

Corvus Pharmaceuticals Trading Down 0.3%

Shares of NASDAQ CRVS opened at $11.90 on Tuesday. Corvus Pharmaceuticals, Inc. has a 12-month low of $3.55 and a 12-month high of $26.95. The firm’s 50-day moving average price is $13.95 and its 200-day moving average price is $13.71. The stock has a market capitalization of $1.00 billion, a price-to-earnings ratio of -22.88 and a beta of 0.84.

Corvus Pharmaceuticals (NASDAQ:CRVS) last released its quarterly earnings results on Thursday, May 7th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.01). On average, equities analysts predict that Corvus Pharmaceuticals, Inc. will post -0.7 EPS for the current fiscal year.

Insider Activity at Corvus Pharmaceuticals

In related news, Director David Scott Moore bought 21,700 shares of the business’s stock in a transaction dated Thursday, June 11th. The shares were purchased at an average price of $11.53 per share, with a total value of $250,201.00. Following the transaction, the director owned 21,700 shares in the company, valued at $250,201. This trade represents a ? increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 19.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Weiss Ratings upgraded Corvus Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, April 29th. Cantor Fitzgerald restated an “overweight” rating on shares of Corvus Pharmaceuticals in a report on Friday, March 13th. Wall Street Zen downgraded Corvus Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. The Goldman Sachs Group began coverage on Corvus Pharmaceuticals in a report on Friday, April 17th. They set a “buy” rating and a $40.00 price objective on the stock. Finally, Oppenheimer reiterated an “outperform” rating and set a $33.00 target price (up from $32.00) on shares of Corvus Pharmaceuticals in a research report on Friday, March 13th. Six research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.