Braidwell LP Purchases 373,500 Shares of Corvus Pharmaceuticals, Inc. $CRVS

Key Points

• Braidwell LP increased its Corvus Pharmaceuticals stake by 21.3% in the second quarter, purchasing 373,500 shares and bringing its holdings to 2.13 million shares, or about 2.53% of the company.
• Institutional investors own 46.64% of Corvus, while an insider recently purchased 21,700 shares for approximately $250,000, signaling added investor interest.
• Corvus shares opened at $14.20 after the company reported a quarterly loss of $0.19 per share, missing estimates by $0.03. Despite mixed analyst opinions, the stock carries a “Moderate Buy” consensus rating with a $33.33 average price target.

Braidwell LP boosted its position in shares of Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS - Free Report) by 21.3% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,126,298 shares of the company's stock after purchasing an additional 373,500 shares during the quarter. Braidwell LP owned about 2.53% of Corvus Pharmaceuticals worth $31,767,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of CRVS. Quarry LP purchased a new stake in shares of Corvus Pharmaceuticals in the 3rd quarter worth $27,000. Global Retirement Partners LLC purchased a new position in shares of Corvus Pharmaceuticals during the second quarter valued at $30,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Corvus Pharmaceuticals during the second quarter valued at $48,000. Russell Investments Group Ltd. bought a new stake in shares of Corvus Pharmaceuticals in the third quarter valued at about $49,000. Finally, Sender Co & Partners Inc. bought a new stake in shares of Corvus Pharmaceuticals in the second quarter valued at about $52,000. 46.64% of the stock is owned by institutional investors.

Insider Transactions at Corvus Pharmaceuticals

In other Corvus Pharmaceuticals news, Director David Scott Moore purchased 21,700 shares of the firm's stock in a transaction on Thursday, June 11th. The stock was bought at an average cost of $11.53 per share, for a total transaction of $250,201.00. Following the completion of the purchase, the director owned 21,700 shares in the company, valued at $250,201. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 19.70% of the stock is owned by corporate insiders.

Corvus Pharmaceuticals Stock Down 0.5%

NASDAQ:CRVS opened at $14.20 on Thursday. The stock has a market capitalization of $1.19 billion, a price-to-earnings ratio of -23.28 and a beta of 0.87. Corvus Pharmaceuticals, Inc. has a 52 week low of $5.58 and a 52 week high of $26.95. The firm has a 50 day moving average of $14.40 and a 200 day moving average of $14.54.

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, analysts expect that Corvus Pharmaceuticals, Inc. will post -0.79 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Wall Street Zen cut shares of Corvus Pharmaceuticals from a "hold" rating to a "sell" rating in a report on Saturday, May 9th. Weiss Ratings upgraded shares of Corvus Pharmaceuticals from a "sell (e+)" rating to a "sell (d-)" rating in a report on Tuesday, July 28th. Finally, LADENBURG THALM/SH SH raised shares of Corvus Pharmaceuticals to a "strong-buy" rating in a research report on Thursday, July 30th. 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, the company has a consensus rating of "Moderate Buy" and an average 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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