Raymond James Financial Inc. Invests $583,000 in Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS)

Raymond James Financial Inc. purchased a new stake in Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 108,989 shares of the company's stock, valued at approximately $583,000. Raymond James Financial Inc. owned 0.17% of Corvus Pharmaceuticals at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of CRVS. Geode Capital Management LLC grew its holdings in shares of Corvus Pharmaceuticals by 22.4% during the 3rd quarter. Geode Capital Management LLC now owns 563,009 shares of the company's stock worth $2,974,000 after purchasing an additional 102,869 shares in the last quarter. State Street Corp lifted its position in Corvus Pharmaceuticals by 48.2% in the third quarter. State Street Corp now owns 178,246 shares of the company's stock worth $941,000 after purchasing an additional 57,943 shares during the period. Jane Street Group LLC acquired a new stake in Corvus Pharmaceuticals during the third quarter worth $265,000. JPMorgan Chase & Co. increased its holdings in Corvus Pharmaceuticals by 441.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 49,556 shares of the company's stock valued at $262,000 after buying an additional 40,404 shares during the period. Finally, Masso Torrence Wealth Management Inc. raised its stake in shares of Corvus Pharmaceuticals by 200.0% in the 4th quarter. Masso Torrence Wealth Management Inc. now owns 30,000 shares of the company's stock valued at $160,000 after buying an additional 20,000 shares in the last quarter. 46.64% of the stock is owned by institutional investors.

Remove Ads

Analysts Set New Price Targets

A number of analysts recently weighed in on CRVS shares. HC Wainwright reissued a "buy" rating and issued a $11.00 target price on shares of Corvus Pharmaceuticals in a research note on Wednesday, March 26th. Oppenheimer reiterated an "outperform" rating and issued a $15.00 price objective (up from $14.00) on shares of Corvus Pharmaceuticals in a research note on Wednesday, March 26th. One investment analyst has rated the stock with a sell rating, three have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Corvus Pharmaceuticals currently has a consensus rating of "Moderate Buy" and an average price target of $15.67.

Corvus Pharmaceuticals Stock Performance

Shares of NASDAQ CRVS traded up $0.11 during mid-day trading on Friday, hitting $2.98. 466,530 shares of the stock were exchanged, compared to its average volume of 603,294. Corvus Pharmaceuticals, Inc. has a twelve month low of $1.30 and a twelve month high of $10.00. The stock's fifty day simple moving average is $4.07 and its two-hundred day simple moving average is $5.86. The company has a market cap of $203.05 million, a P/E ratio of -3.20 and a beta of 0.71.

Corvus Pharmaceuticals (NASDAQ:CRVS - Get Free Report) last released its quarterly earnings results on Tuesday, March 25th. The company reported ($0.18) earnings per share for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.06). As a group, equities research analysts predict that Corvus Pharmaceuticals, Inc. will post -0.63 earnings per share for the current fiscal year.

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.