Connor Clark & Lunn Investment Management Ltd. Invests $3.25 Million in Corvus Pharmaceuticals, Inc. $CRVS

Key Points

• Connor Clark & Lunn Investment Management acquired 217,750 Corvus Pharmaceuticals shares worth approximately $3.25 million, representing about 0.26% of the company. Institutional investors collectively own 46.64% of CRVS.
• Analyst sentiment is generally favorable, with a consensus “Moderate Buy” rating and an average price target of $33.33, although ratings include one Sell recommendation.
• CRVS opened at $14.16, well below its 52-week high of $26.95, while the company reported a quarterly loss of $0.19 per share, missing estimates by $0.03.

Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS - Free Report) in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund acquired 217,750 shares of the company's stock, valued at approximately $3,253,000. Connor Clark & Lunn Investment Management Ltd. owned about 0.26% of Corvus Pharmaceuticals at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CRVS. Quarry LP purchased a new position in shares of Corvus Pharmaceuticals during the third quarter valued at approximately $27,000. Global Retirement Partners LLC acquired a new position in Corvus Pharmaceuticals in the second quarter valued at $30,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Corvus Pharmaceuticals in the 2nd quarter valued at about $48,000. Russell Investments Group Ltd. acquired a new position in Corvus Pharmaceuticals during the third quarter valued at approximately $49,000. Finally, Sender Co & Partners Inc. acquired a new position in shares of Corvus Pharmaceuticals during the 2nd quarter valued at $52,000. 46.64% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Corvus Pharmaceuticals

In related news, Director David Scott Moore purchased 21,700 shares of the company's stock in a transaction that occurred on Thursday, June 11th. The stock was acquired at an average price 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 approximately $250,201. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 19.70% of the company's stock.

Corvus Pharmaceuticals Stock Performance

Shares of CRVS opened at $14.16 on Friday. The company has a market capitalization of $1.19 billion, a P/E ratio of -23.21 and a beta of 0.87. Corvus Pharmaceuticals, Inc. has a one year low of $5.34 and a one year high of $26.95. The stock has a 50-day moving average price of $14.31 and a 200 day moving average price of $14.69.

Corvus Pharmaceuticals (NASDAQ:CRVS - Get Free Report) last posted its quarterly earnings data 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). As a group, equities research analysts forecast that Corvus Pharmaceuticals, Inc. will post -0.79 earnings per share for the current fiscal year.

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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