Hikari Power Ltd Invests $746,000 in Corvus Pharmaceuticals, Inc. $CRVS

Hikari Power Ltd purchased a new position in Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) during the second quarter, Holdings Channel reports. The fund purchased 49,959 shares of the company’s stock, valued at approximately $746,000. Corvus Pharmaceuticals makes up about 0.1% of Hikari Power Ltd’s holdings, making the stock its 26th largest position.

Other institutional investors also recently added to or reduced their stakes in the company. MPM Bioimpact LLC purchased a new position in Corvus Pharmaceuticals in the fourth quarter valued at about $21,126,000. Commodore Capital LP purchased a new stake in shares of Corvus Pharmaceuticals during the 1st quarter worth approximately $33,045,000. State Street Corp raised its holdings in shares of Corvus Pharmaceuticals by 177.1% in the 4th quarter. State Street Corp now owns 2,788,223 shares of the company’s stock worth $21,469,000 after purchasing an additional 1,781,904 shares during the period. Perceptive Advisors LLC raised its holdings in shares of Corvus Pharmaceuticals by 231.1% in the 1st quarter. Perceptive Advisors LLC now owns 2,292,441 shares of the company’s stock worth $33,538,000 after purchasing an additional 1,600,000 shares during the period. Finally, Geode Capital Management LLC lifted its stake in Corvus Pharmaceuticals by 130.7% in the second quarter. Geode Capital Management LLC now owns 1,361,740 shares of the company’s stock valued at $5,448,000 after purchasing an additional 771,454 shares during the last quarter. Institutional investors own 46.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. LADENBURG THALM/SH SH raised Corvus Pharmaceuticals to a “strong-buy” rating in a report on Thursday, July 30th. Wall Street Zen lowered Corvus Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Finally, Weiss Ratings raised Corvus Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, July 28th. One 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 stock. According to data from MarketBeat, Corvus Pharmaceuticals currently has an average rating of “Moderate Buy” and an average target price of $33.33.

Insiders Place Their Bets

In other Corvus Pharmaceuticals news, Director David Scott Moore acquired 21,700 shares of Corvus Pharmaceuticals stock in a transaction that occurred on Thursday, June 11th. The stock was acquired at an average cost of $11.53 per share, for a total transaction of $250,201.00. Following the purchase, the director owned 21,700 shares of the company’s stock, valued at approximately $250,201. This represents a ? increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 19.70% of the company’s stock.

Corvus Pharmaceuticals Price Performance

Shares of NASDAQ:CRVS opened at $14.89 on Monday. The firm has a market capitalization of $1.25 billion, a PE ratio of -24.41 and a beta of 0.87. Corvus Pharmaceuticals, Inc. has a twelve month low of $4.92 and a twelve month high of $26.95. The company has a 50-day moving average price of $13.72 and a two-hundred day moving average price of $15.08.

Corvus Pharmaceuticals (NASDAQ:CRVS) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.03). Analysts anticipate that Corvus Pharmaceuticals, Inc. will post -0.79 earnings per share for the current fiscal year.

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.