Towerview LLC Sells 70,000 Shares of Corvus Pharmaceuticals, Inc. $CRVS

Towerview LLC cut its stake in shares of Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) by 50.0% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 70,000 shares of the company’s stock after selling 70,000 shares during the period. Corvus Pharmaceuticals comprises about 0.7% of Towerview LLC’s investment portfolio, making the stock its 12th biggest position. Towerview LLC’s holdings in Corvus Pharmaceuticals were worth $1,024,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently bought and sold shares of CRVS. Mirae Asset Global Investments Co. Ltd. grew its holdings in Corvus Pharmaceuticals by 26.0% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,629 shares of the company’s stock valued at $28,000 after purchasing an additional 748 shares during the period. ProShare Advisors LLC raised its stake in shares of Corvus Pharmaceuticals by 7.7% in the fourth quarter. ProShare Advisors LLC now owns 13,764 shares of the company’s stock worth $106,000 after buying an additional 979 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of Corvus Pharmaceuticals by 5.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 34,105 shares of the company’s stock worth $263,000 after buying an additional 1,696 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Corvus Pharmaceuticals by 6.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 32,232 shares of the company’s stock valued at $238,000 after buying an additional 1,812 shares in the last quarter. Finally, Shelton Wealth Management LLC lifted its position in shares of Corvus Pharmaceuticals by 13.8% during the 4th quarter. Shelton Wealth Management LLC now owns 15,638 shares of the company’s stock valued at $120,000 after buying an additional 1,896 shares in the last quarter. 46.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Corvus Pharmaceuticals news, Director David Scott Moore bought 21,700 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The shares were bought at an average price of $11.53 per share, with a total value of $250,201.00. Following the purchase, the director owned 21,700 shares of the company’s stock, valued at $250,201. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 19.70% of the company’s stock.

Corvus Pharmaceuticals Stock Performance

Shares of CRVS stock opened at $14.27 on Friday. The stock has a fifty day simple moving average of $13.31 and a two-hundred day simple moving average of $14.66. The firm has a market capitalization of $1.20 billion, a PE ratio of -27.44 and a beta of 0.82. Corvus Pharmaceuticals, Inc. has a 52-week low of $3.96 and a 52-week high of $26.95.

Corvus Pharmaceuticals (NASDAQ:CRVS) last announced its quarterly earnings data 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, sell-side analysts forecast that Corvus Pharmaceuticals, Inc. will post -0.7 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Weiss Ratings downgraded Corvus Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, July 10th. Wall Street Zen cut shares of Corvus Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Finally, The Goldman Sachs Group initiated coverage on shares of Corvus Pharmaceuticals in a report on Friday, April 17th. They set a “buy” rating and a $40.00 price target on the stock. Six research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $33.33.

Corvus Pharmaceuticals Company Profile

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.