RTW Investments LP Makes New Investment in Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS)

RTW Investments LP bought a new position in shares of Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) in the 4th quarter, Holdings Channel reports. The fund bought 2,679,479 shares of the company’s stock, valued at approximately $14,335,000.

Other hedge funds have also made changes to their positions in the company. Virtus ETF Advisers LLC acquired a new stake in shares of Corvus Pharmaceuticals during the fourth quarter worth about $47,000. PKS Advisory Services LLC acquired a new stake in shares of Corvus Pharmaceuticals during the fourth quarter worth about $56,000. Alpine Global Management LLC acquired a new stake in shares of Corvus Pharmaceuticals during the fourth quarter worth about $62,000. ExodusPoint Capital Management LP acquired a new stake in shares of Corvus Pharmaceuticals during the fourth quarter worth about $72,000. Finally, China Universal Asset Management Co. Ltd. acquired a new stake in shares of Corvus Pharmaceuticals during the fourth quarter worth about $73,000. Institutional investors and hedge funds own 46.64% of the company’s stock.

Corvus Pharmaceuticals Stock Down 1.1%

Shares of NASDAQ:CRVS opened at $3.58 on Friday. The company has a market cap of $244.05 million, a P/E ratio of -3.85 and a beta of 0.67. Corvus Pharmaceuticals, Inc. has a 52 week low of $1.75 and a 52 week high of $10.00. The company has a 50-day moving average price of $3.57 and a 200 day moving average price of $5.37.

Corvus Pharmaceuticals (NASDAQ:CRVS) last issued its earnings results on Thursday, May 8th. The company reported ($0.13) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.13). Analysts expect that Corvus Pharmaceuticals, Inc. will post -0.63 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. StockNews.com upgraded shares of Corvus Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Monday. Oppenheimer restated an “outperform” rating and issued a $17.00 price objective (up previously from $15.00) on shares of Corvus Pharmaceuticals in a research report on Friday, May 9th. Finally, HC Wainwright restated a “buy” rating and issued a $11.00 price objective on shares of Corvus Pharmaceuticals in a research report on Wednesday, March 26th. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $16.33.

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.