Connor Clark & Lunn Investment Management Ltd. Acquires New Position in Corvus Pharmaceuticals, Inc. $CRVS

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 217,750 shares of the company’s stock, valued at approximately $3,253,000.

Other large investors also recently bought and sold shares of the company. Blue Owl Capital Holdings LP acquired a new position in shares of Corvus Pharmaceuticals in the 2nd quarter worth approximately $9,092,000. E Fund Management Co. Ltd. acquired a new stake in shares of Corvus Pharmaceuticals during the 2nd quarter valued at approximately $172,000. DCF Advisers LLC bought a new position in Corvus Pharmaceuticals during the second quarter worth $9,524,000. Meeder Asset Management Inc. bought a new position in Corvus Pharmaceuticals during the second quarter worth $90,000. Finally, BlackRock Inc. acquired a new position in Corvus Pharmaceuticals in the second quarter worth $106,654,000. Institutional investors own 46.64% of the company’s stock.

Corvus Pharmaceuticals Trading Down 3.8%

Shares of Corvus Pharmaceuticals stock opened at $14.16 on Friday. The stock has a market capitalization of $1.19 billion, a price-to-earnings ratio of -23.21 and a beta of 0.87. Corvus Pharmaceuticals, Inc. has a twelve month low of $5.34 and a twelve month high of $26.95. The business’s 50 day simple moving average is $14.31 and its 200-day simple moving average is $14.69.

Corvus Pharmaceuticals (NASDAQ:CRVS) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.03). Sell-side analysts predict that Corvus Pharmaceuticals, Inc. will post -0.79 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on CRVS shares. Weiss Ratings upgraded shares of Corvus Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, July 28th. LADENBURG THALM/SH SH upgraded shares of Corvus Pharmaceuticals to a “strong-buy” rating in a research report on Thursday, July 30th. Finally, Wall Street Zen lowered shares of Corvus Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $33.33.

Insider Activity

In other news, Director David Scott Moore purchased 21,700 shares of Corvus Pharmaceuticals stock in a transaction dated Thursday, June 11th. The stock was bought at an average price of $11.53 per share, with a total value of $250,201.00. Following the completion of the acquisition, the director owned 21,700 shares in the company, valued at $250,201. The trade was a ? increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 19.70% of the company’s stock.

About Corvus Pharmaceuticals

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.