JPMorgan Chase & Co. Reduces Stock Holdings in Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS)

JPMorgan Chase & Co. cut its holdings in Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) by 50.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 24,455 shares of the company’s stock after selling 25,101 shares during the quarter. JPMorgan Chase & Co.’s holdings in Corvus Pharmaceuticals were worth $131,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in CRVS. Geode Capital Management LLC boosted its stake in Corvus Pharmaceuticals by 22.4% in 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. Jane Street Group LLC acquired a new stake in shares of Corvus Pharmaceuticals during the third quarter worth $265,000. PKS Advisory Services LLC purchased a new stake in shares of Corvus Pharmaceuticals during the fourth quarter valued at $56,000. Nwam LLC increased its position in shares of Corvus Pharmaceuticals by 54.2% in the 4th quarter. Nwam LLC now owns 15,500 shares of the company’s stock valued at $83,000 after acquiring an additional 5,450 shares during the period. Finally, China Universal Asset Management Co. Ltd. purchased a new position in Corvus Pharmaceuticals in the 4th quarter worth $73,000. Institutional investors and hedge funds own 46.64% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on CRVS. HC Wainwright reiterated a “buy” rating and set a $11.00 price target on shares of Corvus Pharmaceuticals in a research note on Wednesday, March 26th. Oppenheimer reiterated an “outperform” rating and issued a $15.00 price target (up previously from $14.00) on shares of Corvus Pharmaceuticals in a report on Wednesday, March 26th. One research analyst has rated the stock with a sell rating, three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Corvus Pharmaceuticals has an average rating of “Moderate Buy” and a consensus price target of $15.67.

Corvus Pharmaceuticals Stock Performance

NASDAQ CRVS opened at $3.57 on Tuesday. Corvus Pharmaceuticals, Inc. has a fifty-two week low of $1.43 and a fifty-two week high of $10.00. The firm has a market capitalization of $243.36 million, a P/E ratio of -3.84 and a beta of 0.67. The stock has a 50-day simple moving average of $3.65 and a two-hundred day simple moving average of $5.57.

Corvus Pharmaceuticals (NASDAQ:CRVS) last announced its quarterly earnings results on Tuesday, March 25th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.06). As a group, analysts forecast that Corvus Pharmaceuticals, Inc. will post -0.63 earnings per share for the current 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.