ADAR1 Capital Management LLC Sells 377,974 Shares of Corvus Pharmaceuticals, Inc. $CRVS

ADAR1 Capital Management LLC lowered its position in Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS - Free Report) by 81.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 87,901 shares of the company's stock after selling 377,974 shares during the quarter. ADAR1 Capital Management LLC owned approximately 0.10% of Corvus Pharmaceuticals worth $1,286,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Geode Capital Management LLC grew its position in shares of Corvus Pharmaceuticals by 130.7% during the 2nd quarter. Geode Capital Management LLC now owns 1,361,740 shares of the company's stock worth $5,448,000 after purchasing an additional 771,454 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Corvus Pharmaceuticals by 541.9% in the second quarter. JPMorgan Chase & Co. now owns 30,420 shares of the company's stock valued at $122,000 after buying an additional 25,681 shares in the last quarter. Rhumbline Advisers boosted its stake in shares of Corvus Pharmaceuticals by 9,501.8% in the second quarter. Rhumbline Advisers now owns 75,950 shares of the company's stock valued at $304,000 after buying an additional 75,159 shares during the period. Hsbc Holdings PLC bought a new stake in shares of Corvus Pharmaceuticals in the second quarter valued at approximately $332,000. Finally, New York State Common Retirement Fund acquired a new stake in Corvus Pharmaceuticals during the second quarter worth approximately $95,000. Institutional investors own 46.64% of the company's stock.

Insider Transactions at Corvus Pharmaceuticals

In related news, Director David Scott Moore acquired 21,700 shares of the business's stock in a transaction dated Thursday, June 11th. The shares were bought at an average price of $11.53 per share, with a total value of $250,201.00. Following the transaction, the director directly owned 21,700 shares of the company's stock, valued at $250,201. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 19.70% of the stock is currently owned by corporate insiders.

Corvus Pharmaceuticals Price Performance

NASDAQ:CRVS opened at $13.04 on Thursday. The firm's 50 day simple moving average is $13.28 and its 200 day simple moving average is $15.07. Corvus Pharmaceuticals, Inc. has a one year low of $3.96 and a one year high of $26.95. The company has a market cap of $1.10 billion, a PE ratio of -25.08 and a beta of 0.82.

Corvus Pharmaceuticals (NASDAQ:CRVS - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.01). Equities research analysts expect that Corvus Pharmaceuticals, Inc. will post -0.7 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on CRVS. The Goldman Sachs Group assumed coverage on Corvus Pharmaceuticals in a report on Friday, April 17th. They set a "buy" rating and a $40.00 target price on the stock. Wall Street Zen cut shares of Corvus Pharmaceuticals from a "hold" rating to a "sell" rating in a research report on Saturday, May 9th. Finally, Weiss Ratings raised shares of Corvus Pharmaceuticals from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Tuesday. Six investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently 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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