Blue Owl Capital Holdings LP Takes Position in Corvus Pharmaceuticals, Inc. $CRVS

Key Points

• Blue Owl Capital Holdings LP acquired 608,600 shares of Corvus Pharmaceuticals in the second quarter, worth approximately $9.1 million and representing about 0.72% of the company. Institutional investors collectively own 46.64% of CRVS.
• Analyst sentiment is mixed but leans positive: Corvus has a consensus rating of “Moderate Buy” and an average price target of $33.33, despite one sell rating and recent downgrades.
• CRVS opened at $14.33, with a 12-month range of $5.03 to $26.95. The company reported a quarterly loss of $0.19 per share, missing the $0.16 consensus estimate, and analysts expect a full-year loss of $0.79 per share.

Blue Owl Capital Holdings LP purchased a new stake in shares of Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 608,600 shares of the company's stock, valued at approximately $9,092,000. Corvus Pharmaceuticals accounts for approximately 1.4% of Blue Owl Capital Holdings LP's portfolio, making the stock its 15th largest holding. Blue Owl Capital Holdings LP owned approximately 0.72% of Corvus Pharmaceuticals at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in CRVS. E Fund Management Co. Ltd. acquired a new position in Corvus Pharmaceuticals in the second quarter worth about $172,000. DCF Advisers LLC acquired a new stake in Corvus Pharmaceuticals during the second quarter valued at approximately $9,524,000. Meeder Asset Management Inc. acquired a new stake in Corvus Pharmaceuticals during the second quarter valued at approximately $90,000. BlackRock Inc. bought a new stake in shares of Corvus Pharmaceuticals in the 2nd quarter valued at approximately $106,654,000. Finally, Deutsche Bank AG bought a new stake in shares of Corvus Pharmaceuticals in the 2nd quarter valued at approximately $1,113,000. Institutional investors and hedge funds own 46.64% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Wall Street Zen downgraded shares of Corvus Pharmaceuticals from a "hold" rating to a "sell" rating in a research note on Saturday, May 9th. 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. Finally, LADENBURG THALM/SH SH raised shares of Corvus Pharmaceuticals to a "strong-buy" rating in a report on Thursday, July 30th. 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. According to MarketBeat, Corvus Pharmaceuticals presently has a consensus rating of "Moderate Buy" and an average target price of $33.33.

Insider Buying and Selling at Corvus Pharmaceuticals

In related news, Director David Scott Moore acquired 21,700 shares of the company's stock in a transaction that occurred on Thursday, June 11th. The stock was purchased at an average price of $11.53 per share, for a total transaction of $250,201.00. Following the transaction, the director directly owned 21,700 shares of the company's stock, valued at approximately $250,201. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 19.70% of the stock is currently owned by corporate insiders.

Corvus Pharmaceuticals Stock Performance

Shares of NASDAQ:CRVS opened at $14.33 on Friday. Corvus Pharmaceuticals, Inc. has a twelve month low of $5.03 and a twelve month high of $26.95. The firm has a market cap of $1.21 billion, a PE ratio of -23.49 and a beta of 0.87. The business has a fifty day moving average of $14.01 and a 200-day moving average of $14.91.

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 the consensus estimate of ($0.16) by ($0.03). On average, analysts anticipate that Corvus Pharmaceuticals, Inc. will post -0.79 EPS for the current fiscal year.

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.

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