UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Buys 68,253 Shares of Corvus Pharmaceuticals, Inc. $CRVS

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) by 1,116.0% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 74,369 shares of the company’s stock after buying an additional 68,253 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.09% of Corvus Pharmaceuticals worth $1,111,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. BlackRock Inc. bought a new position in Corvus Pharmaceuticals in the 2nd quarter valued at about $106,654,000. MPM Bioimpact LLC acquired a new stake in Corvus Pharmaceuticals during the fourth quarter worth approximately $21,126,000. Commodore Capital LP bought a new stake in shares of Corvus Pharmaceuticals during the first quarter worth approximately $33,045,000. State Street Corp boosted its holdings in shares of Corvus Pharmaceuticals by 177.1% during the fourth quarter. State Street Corp now owns 2,788,223 shares of the company’s stock worth $21,469,000 after acquiring an additional 1,781,904 shares during the period. Finally, Perceptive Advisors LLC grew its position in shares of Corvus Pharmaceuticals by 231.1% in the first quarter. Perceptive Advisors LLC now owns 2,292,441 shares of the company’s stock valued at $33,538,000 after purchasing an additional 1,600,000 shares during the last quarter. Institutional investors own 46.64% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on CRVS shares. Weiss Ratings raised Corvus Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, July 28th. LADENBURG THALM/SH SH upgraded Corvus Pharmaceuticals to a “strong-buy” rating in a research note on Thursday, July 30th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, Corvus Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus price target of $33.33.

Corvus Pharmaceuticals Stock Down 0.2%

Shares of Corvus Pharmaceuticals stock opened at $12.91 on Friday. The stock has a market capitalization of $1.09 billion, a price-to-earnings ratio of -21.16 and a beta of 0.87. Corvus Pharmaceuticals, Inc. has a twelve month low of $5.64 and a twelve month high of $26.95. The company has a 50-day simple moving average of $14.31 and a two-hundred day simple moving average of $14.37.

Corvus Pharmaceuticals (NASDAQ:CRVS) last announced its earnings results on Thursday, August 6th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.03). On average, sell-side analysts anticipate that Corvus Pharmaceuticals, Inc. will post -0.79 earnings per share for the current fiscal year.

About Corvus Pharmaceuticals

Corvus Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on developing medicines that regulate the immune system to treat cancer and other serious diseases. The company’s research is centered on small-molecule and antibody-based therapies designed to influence immune-cell activity and improve the body’s ability to respond to disease.

Corvus’ lead investigational product is soquelitinib, also known as CPI-818, an oral, selective inhibitor of interleukin-2-inducible T-cell kinase (ITK).