Bank of New York Mellon Corp Takes $3.03 Million Position in Corvus Pharmaceuticals, Inc. $CRVS

Key Points

• Bank of New York Mellon acquired 202,609 Corvus Pharmaceuticals shares worth approximately $3.03 million, representing about 0.24% of the company. Institutional investors collectively own 46.64% of CRVS.
• Corvus insiders own 19.70% of the stock, and director David Moore recently purchased 21,700 shares for approximately $250,201.
• CRVS recently traded at $14.39 after the company reported a quarterly loss of $0.19 per share, missing estimates by $0.03. Analysts maintain a “Moderate Buy” consensus with an average price target of $33.33.

Bank of New York Mellon Corp acquired a new stake in 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 (SEC). The fund acquired 202,609 shares of the company's stock, valued at approximately $3,027,000. Bank of New York Mellon Corp owned approximately 0.24% of Corvus Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. Orbimed Advisors LLC increased its stake in shares of Corvus Pharmaceuticals by 3.2% in the 2nd quarter. Orbimed Advisors LLC now owns 7,165,006 shares of the company's stock valued at $28,660,000 after purchasing an additional 221,352 shares in the last quarter. Vanguard Group Inc. boosted its position in Corvus Pharmaceuticals by 5.8% during 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 in the last quarter. Vivo Capital LLC boosted its position in Corvus Pharmaceuticals by 25.6% during the first quarter. Vivo Capital LLC now owns 2,805,816 shares of the company's stock worth $41,049,000 after purchasing an additional 571,250 shares in the last quarter. State Street Corp grew its holdings in Corvus Pharmaceuticals by 177.1% in 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 during the period. Finally, MPM Bioimpact LLC acquired a new stake in Corvus Pharmaceuticals in the fourth quarter valued at approximately $21,126,000. Institutional investors and hedge funds own 46.64% of the company's stock.

Insider Transactions at Corvus Pharmaceuticals

In other Corvus Pharmaceuticals news, Director David Moore bought 21,700 shares of Corvus Pharmaceuticals stock in a transaction dated Thursday, June 11th. The stock was acquired at an average cost of $11.53 per share, for a total transaction of $250,201.00. Following the completion of the transaction, the director directly owned 21,700 shares of the company's stock, valued at approximately $250,201. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 19.70% of the stock is currently owned by company insiders.

Corvus Pharmaceuticals Price Performance

Shares of Corvus Pharmaceuticals stock opened at $14.39 on Monday. The stock has a market capitalization of $1.21 billion, a P/E ratio of -23.59 and a beta of 0.87. The business has a 50 day simple moving average of $14.45 and a two-hundred day simple moving average of $14.48. Corvus Pharmaceuticals, Inc. has a 12 month low of $5.64 and a 12 month high of $26.95.

Corvus Pharmaceuticals (NASDAQ:CRVS - Get Free Report) last issued its quarterly 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). As a group, research analysts anticipate that Corvus Pharmaceuticals, Inc. will post -0.79 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. LADENBURG THALM/SH SH upgraded Corvus Pharmaceuticals to a "strong-buy" rating in a research report on Thursday, July 30th. Weiss Ratings raised shares of Corvus Pharmaceuticals from a "sell (e+)" rating to a "sell (d-)" rating in a report on Tuesday, July 28th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $33.33.

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.

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