637,500 Shares in Corvus Pharmaceuticals, Inc. $CRVS Bought by DCF Advisers LLC

Key Points

• DCF Advisers LLC acquired 637,500 shares of Corvus Pharmaceuticals during the second quarter, worth approximately $9.5 million. The position represents about 0.76% of Corvus and 1.7% of DCF Advisers’ portfolio.
• Institutional investors own 46.64% of Corvus, while insiders own 19.70%; director David Scott Moore also purchased 21,700 shares for approximately $250,000.
• Corvus recently missed quarterly earnings expectations, reporting a loss of $0.19 per share versus the projected $0.16 loss. Despite mixed analyst opinions, the stock carries a “Moderate Buy” consensus rating with an average price target of $33.33.

DCF Advisers LLC acquired a new stake in shares of Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 637,500 shares of the company's stock, valued at approximately $9,524,000. Corvus Pharmaceuticals comprises about 1.7% of DCF Advisers LLC's portfolio, making the stock its 6th biggest holding. DCF Advisers LLC owned approximately 0.76% of Corvus Pharmaceuticals at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Corvus Pharmaceuticals by 26.0% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,629 shares of the company's stock worth $28,000 after purchasing an additional 748 shares during the period. ProShare Advisors LLC lifted its position in shares of Corvus Pharmaceuticals by 7.7% in the 4th quarter. ProShare Advisors LLC now owns 13,764 shares of the company's stock worth $106,000 after buying an additional 979 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Corvus Pharmaceuticals by 5.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 34,105 shares of the company's stock valued at $263,000 after buying an additional 1,696 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Corvus Pharmaceuticals by 6.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 32,232 shares of the company's stock valued at $238,000 after buying an additional 1,812 shares during the period. Finally, Global Retirement Partners LLC bought a new stake in shares of Corvus Pharmaceuticals during the 2nd quarter valued at about $30,000. Institutional investors own 46.64% of the company's stock.

Insider Buying and Selling

In related news, Director David Scott Moore purchased 21,700 shares of the stock in a transaction dated Thursday, June 11th. The shares were acquired at an average cost of $11.53 per share, for a total transaction of $250,201.00. Following the acquisition, the director directly owned 21,700 shares in the company, valued at approximately $250,201. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 19.70% of the company's stock.

Corvus Pharmaceuticals Price Performance

Shares of CRVS opened at $15.40 on Thursday. The firm's 50 day moving average is $13.95 and its 200-day moving average is $14.95. The stock has a market capitalization of $1.30 billion, a P/E ratio of -25.25 and a beta of 0.87. Corvus Pharmaceuticals, Inc. has a 12-month low of $5.03 and a 12-month high of $26.95.

Corvus Pharmaceuticals (NASDAQ:CRVS - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.19) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.03). As a group, equities research analysts forecast that Corvus Pharmaceuticals, Inc. will post -0.79 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on CRVS shares. Wall Street Zen downgraded shares of Corvus Pharmaceuticals from a "hold" rating to a "sell" rating in a report on Saturday, May 9th. LADENBURG THALM/SH SH raised shares of Corvus Pharmaceuticals to a "strong-buy" rating in a report on Thursday, July 30th. Finally, Weiss Ratings upgraded shares of Corvus Pharmaceuticals from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Tuesday, July 28th. One equities 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 company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $33.33.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source