ADAR1 Capital Management LLC Makes New Investment in Corvus Pharmaceuticals, Inc. $CRVS

Key Points

• ADAR1 Capital Management acquired 117,101 Corvus Pharmaceuticals shares worth approximately $1.75 million, representing about 0.14% of the company. Institutional investors collectively own 46.64% of CRVS.
• Corvus shares opened at $14.56, with a market capitalization of approximately $1.22 billion. The company’s latest quarterly loss of $0.19 per share missed analyst expectations of $0.16, and analysts project a full-year loss of $0.79 per share.
• Analyst sentiment remains a Moderate Buy, with a consensus price target of $33.33, although ratings range from Strong Buy to Sell. Corvus is developing immuno-oncology therapies targeting tumor-driven immune suppression and the adenosine pathway.

ADAR1 Capital Management LLC acquired a new stake in shares of Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 117,101 shares of the company's stock, valued at approximately $1,749,000. ADAR1 Capital Management LLC owned about 0.14% of Corvus Pharmaceuticals as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in CRVS. Orbimed Advisors LLC raised its holdings in shares of Corvus Pharmaceuticals by 3.2% during the 2nd quarter. Orbimed Advisors LLC now owns 7,165,006 shares of the company's stock worth $28,660,000 after acquiring an additional 221,352 shares in the last quarter. BlackRock Inc. bought a new stake in Corvus Pharmaceuticals in the second quarter worth $106,654,000. Vanguard Group Inc. increased its position in Corvus Pharmaceuticals by 5.8% in the third quarter. Vanguard Group Inc. now owns 3,471,925 shares of the company's stock worth $25,588,000 after purchasing an additional 191,216 shares during the last quarter. Vivo Capital LLC raised 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 purchasing an additional 571,250 shares in the last quarter. Finally, State Street Corp raised its stake in Corvus Pharmaceuticals by 177.1% during the fourth quarter. State Street Corp now owns 2,788,223 shares of the company's stock valued at $21,469,000 after purchasing an additional 1,781,904 shares in the last quarter. Hedge funds and other institutional investors own 46.64% of the company's stock.

Insider Transactions at Corvus Pharmaceuticals

In other Corvus Pharmaceuticals news, Director David Scott Moore bought 21,700 shares of the company's stock in a transaction on Thursday, June 11th. The shares were bought 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 19.70% of the stock is currently owned by insiders.

Corvus Pharmaceuticals Stock Up 3.3%

CRVS opened at $14.56 on Wednesday. The business has a fifty day moving average of $14.16 and a 200 day moving average of $14.77. The stock has a market cap of $1.22 billion, a P/E ratio of -23.87 and a beta of 0.87. Corvus Pharmaceuticals, Inc. has a 52-week low of $5.28 and a 52-week high of $26.95.

Corvus Pharmaceuticals (NASDAQ:CRVS - Get Free Report) last issued its earnings results 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). Equities analysts anticipate that Corvus Pharmaceuticals, Inc. will post -0.79 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently commented on CRVS. Wall Street Zen lowered Corvus Pharmaceuticals from a "hold" rating to a "sell" rating in a research report on Saturday, May 9th. LADENBURG THALM/SH SH raised Corvus Pharmaceuticals to a "strong-buy" rating in a research note on Thursday, July 30th. Finally, Weiss Ratings upgraded Corvus Pharmaceuticals from a "sell (e+)" rating to a "sell (d-)" rating in a report on Tuesday, July 28th. One 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 MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $33.33.

Corvus Pharmaceuticals 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.

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