Point72 Asset Management L.P. Decreases Stock Position in Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS)

Point72 Asset Management L.P. cut its position in Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS - Free Report) by 6.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,562,729 shares of the company's stock after selling 401,781 shares during the period. Point72 Asset Management L.P. owned 8.89% of Corvus Pharmaceuticals worth $29,371,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CRVS. Nwam LLC bought a new position in Corvus Pharmaceuticals in the third quarter worth approximately $53,000. Avity Investment Management Inc. lifted its holdings in shares of Corvus Pharmaceuticals by 138.2% in the 3rd quarter. Avity Investment Management Inc. now owns 27,580 shares of the company's stock worth $146,000 after purchasing an additional 16,000 shares in the last quarter. Oppenheimer & Co. Inc. acquired a new stake in Corvus Pharmaceuticals in the 3rd quarter valued at $89,000. Towerview LLC increased its stake in Corvus Pharmaceuticals by 4.6% during the 2nd quarter. Towerview LLC now owns 400,000 shares of the company's stock valued at $728,000 after purchasing an additional 17,500 shares in the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new position in Corvus Pharmaceuticals during the second quarter worth $44,000. 46.64% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

CRVS has been the subject of several recent research reports. StockNews.com downgraded shares of Corvus Pharmaceuticals from a "hold" rating to a "sell" rating in a research report on Thursday, October 31st. Oppenheimer boosted their price objective on Corvus Pharmaceuticals from $8.00 to $14.00 and gave the stock an "outperform" rating in a report on Wednesday, November 13th. Mizuho upgraded Corvus Pharmaceuticals from a "hold" rating to a "strong-buy" rating in a report on Tuesday, October 22nd. Finally, LADENBURG THALM/SH SH lifted their target price on Corvus Pharmaceuticals from $12.00 to $21.00 and gave the company a "buy" rating in a research report on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $12.83.

Corvus Pharmaceuticals Stock Up 1.6 %

CRVS stock traded up $0.13 during trading on Friday, reaching $8.26. The stock had a trading volume of 477,032 shares, compared to its average volume of 389,160. The company has a market capitalization of $530.79 million, a price-to-earnings ratio of -8.88 and a beta of 1.05. Corvus Pharmaceuticals, Inc. has a one year low of $1.30 and a one year high of $10.00. The company's 50 day moving average is $7.86 and its two-hundred day moving average is $4.74.

About Corvus Pharmaceuticals

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.