Corvus Pharmaceuticals (NASDAQ:CRVS) Director Purchases $250,201.00 in Stock

Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) Director David Scott Moore bought 21,700 shares of Corvus Pharmaceuticals stock in a transaction on Thursday, June 11th. The shares were acquired at an average cost 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 of the company’s stock, valued at $250,201. The trade was a ? increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink.

Corvus Pharmaceuticals Trading Up 2.2%

Shares of CRVS stock opened at $12.00 on Thursday. Corvus Pharmaceuticals, Inc. has a 12 month low of $3.55 and a 12 month high of $26.95. The stock has a market cap of $1.01 billion, a P/E ratio of -23.08 and a beta of 0.84. The company has a 50 day simple moving average of $13.83 and a two-hundred day simple moving average of $13.75.

Corvus Pharmaceuticals (NASDAQ:CRVS) last announced its earnings results on Thursday, May 7th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.01). As a group, equities analysts forecast that Corvus Pharmaceuticals, Inc. will post -0.7 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Oppenheimer reaffirmed an “outperform” rating and set a $33.00 target price (up from $32.00) on shares of Corvus Pharmaceuticals in a report on Friday, March 13th. The Goldman Sachs Group started coverage on shares of Corvus Pharmaceuticals in a report on Friday, April 17th. They set a “buy” rating and a $40.00 target price for the company. Wall Street Zen cut shares of Corvus Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Cantor Fitzgerald reissued an “overweight” rating on shares of Corvus Pharmaceuticals in a research note on Friday, March 13th. Finally, Weiss Ratings raised shares of Corvus Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, April 29th. Six research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $33.33.

Hedge Funds Weigh In On Corvus Pharmaceuticals

Several institutional investors have recently bought and sold shares of the stock. Seven Fleet Capital Management LP purchased a new position in Corvus Pharmaceuticals during the first quarter valued at $1,213,000. Perceptive Advisors LLC grew its stake in Corvus Pharmaceuticals by 231.1% during the first quarter. Perceptive Advisors LLC now owns 2,292,441 shares of the company’s stock valued at $33,538,000 after acquiring an additional 1,600,000 shares in the last quarter. Avidity Partners Management LP purchased a new position in Corvus Pharmaceuticals during the first quarter valued at $1,682,000. Vivo Capital LLC grew its stake in Corvus Pharmaceuticals by 25.6% during the first quarter. Vivo Capital LLC now owns 2,805,816 shares of the company’s stock valued at $41,049,000 after acquiring an additional 571,250 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in Corvus Pharmaceuticals by 481.7% during the first quarter. The Manufacturers Life Insurance Company now owns 101,779 shares of the company’s stock valued at $1,489,000 after acquiring an additional 84,282 shares in the last quarter. 46.64% of the stock is owned by hedge funds and other institutional investors.

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.