74,529 Shares in Corvus Pharmaceuticals, Inc. $CRVS Purchased by Deutsche Bank AG

Key Points

• Deutsche Bank AG purchased 74,529 Corvus Pharmaceuticals shares in the second quarter, valued at approximately $1.11 million and representing about 0.09% of the company. Other institutions also initiated positions, with institutional ownership reaching 46.64%.
• Analyst sentiment is generally positive: Corvus has a consensus “Moderate Buy” rating and a target price of $33.33, despite mixed individual rating changes.
• Corvus shares opened at $14.16, while the company reported a quarterly loss of $0.19 per share, missing the consensus estimate of a $0.16 loss. Director David Scott Moore separately purchased 21,700 shares for roughly $250,000.

Deutsche Bank AG bought a new stake in shares of Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 74,529 shares of the company's stock, valued at approximately $1,113,000. Deutsche Bank AG owned approximately 0.09% of Corvus Pharmaceuticals as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of CRVS. Global Retirement Partners LLC purchased a new position in Corvus Pharmaceuticals during the second quarter valued at approximately $30,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in Corvus Pharmaceuticals in the 2nd quarter valued at $48,000. Quarry LP purchased a new position in shares of Corvus Pharmaceuticals during the 3rd quarter valued at $27,000. State of Wyoming bought a new position in shares of Corvus Pharmaceuticals in the second quarter worth $71,000. Finally, Russell Investments Group Ltd. bought a new position in shares of Corvus Pharmaceuticals in the third quarter worth $49,000. 46.64% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CRVS has been the topic of a number of research analyst reports. Wall Street Zen lowered Corvus Pharmaceuticals from a "hold" rating to a "sell" rating in a research note on Saturday, May 9th. LADENBURG THALM/SH SH upgraded shares of Corvus Pharmaceuticals to a "strong-buy" rating in a research report on Thursday, July 30th. Finally, Weiss Ratings upgraded 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 assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Corvus Pharmaceuticals has a consensus rating of "Moderate Buy" and a consensus target price of $33.33.

Insider Buying and Selling at Corvus Pharmaceuticals

In related news, Director David Scott Moore purchased 21,700 shares of Corvus Pharmaceuticals stock in a transaction dated Thursday, June 11th. The stock was purchased at an average cost of $11.53 per share, for a total transaction of $250,201.00. Following the completion of the acquisition, the director directly owned 21,700 shares of the company's stock, valued at $250,201. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 19.70% of the stock is owned by insiders.

Corvus Pharmaceuticals Price Performance

Shares of NASDAQ CRVS opened at $14.16 on Monday. Corvus Pharmaceuticals, Inc. has a 1 year low of $5.34 and a 1 year high of $26.95. The firm has a 50-day moving average of $14.31 and a 200 day moving average of $14.65. The stock has a market cap of $1.19 billion, a P/E ratio of -23.21 and a beta of 0.87.

Corvus Pharmaceuticals (NASDAQ:CRVS - Get Free Report) last released its 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). Research analysts expect that Corvus Pharmaceuticals, Inc. will post -0.79 earnings per share for the current fiscal year.

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.

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