American Century Companies Inc. Has $284,000 Stake in Corvus Pharmaceuticals, Inc. $CRVS

Key Points

• American Century Companies Inc. significantly increased its stake in Corvus Pharmaceuticals by 103.9%, now holding about 89,265 shares valued at approximately $284,000.
• Corvus Pharmaceuticals saw a stock increase of 7.5% and reported quarterly earnings of ($0.10) EPS, surpassing analysts' expectations of ($0.13).
• Several research firms have upgraded their ratings on Corvus Pharmaceuticals, with Mizuho setting a price target of $11.00 and the consensus price target reaching $15.00.

American Century Companies Inc. lifted its position in shares of Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS - Free Report) by 103.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 89,265 shares of the company's stock after purchasing an additional 45,491 shares during the period. American Century Companies Inc. owned about 0.13% of Corvus Pharmaceuticals worth $284,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in CRVS. Dimensional Fund Advisors LP boosted its holdings in Corvus Pharmaceuticals by 91.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 22,793 shares of the company's stock valued at $122,000 after acquiring an additional 10,869 shares during the last quarter. Tower Research Capital LLC TRC bought a new stake in Corvus Pharmaceuticals in the fourth quarter valued at approximately $74,000. Bank of America Corp DE boosted its holdings in Corvus Pharmaceuticals by 23,611.7% in the fourth quarter. Bank of America Corp DE now owns 96,981 shares of the company's stock valued at $519,000 after acquiring an additional 96,572 shares during the last quarter. Balyasny Asset Management L.P. bought a new stake in Corvus Pharmaceuticals in the fourth quarter valued at approximately $259,000. Finally, Graham Capital Management L.P. bought a new stake in Corvus Pharmaceuticals in the fourth quarter valued at approximately $98,000. 46.64% of the stock is currently owned by institutional investors.

Corvus Pharmaceuticals Stock Up 2.2%

CRVS traded up $0.13 during trading on Thursday, hitting $6.06. The company's stock had a trading volume of 449,947 shares, compared to its average volume of 577,501. Corvus Pharmaceuticals, Inc. has a twelve month low of $2.54 and a twelve month high of $10.00. The stock's fifty day moving average price is $4.86 and its 200-day moving average price is $4.14. The firm has a market capitalization of $451.53 million, a P/E ratio of -6.00 and a beta of 0.52.

Corvus Pharmaceuticals (NASDAQ:CRVS - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.03. Equities research analysts expect that Corvus Pharmaceuticals, Inc. will post -0.63 EPS for the current fiscal year.

Insider Buying and Selling at Corvus Pharmaceuticals

In other news, Director Peter A. Thompson sold 1,176,332 shares of the company's stock in a transaction that occurred on Friday, June 27th. The stock was sold at an average price of $4.16, for a total transaction of $4,893,541.12. Following the transaction, the director directly owned 7,165,006 shares of the company's stock, valued at $29,806,424.96. This represents a 14.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 28.50% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Wall Street Zen upgraded Corvus Pharmaceuticals from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Mizuho set a $11.00 target price on Corvus Pharmaceuticals and gave the company an "outperform" rating in a report on Tuesday, May 20th. Four investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $15.00.

About Corvus Pharmaceuticals

Corvus Pharmaceuticals, Inc, a clinical stage biopharmaceutical company, focuses on the development and commercialization of immune modulator product candidates to treat solid cancers, T cell lymphomas, autoimmune, allergic, and infectious diseases. Its lead product candidate is soquelitinib (CPI-818), a selective covalent inhibitor of interleukin 2 inducible T cell kinase (ITK), which is in a multi-center Phase 1/1b clinical trial for the treatment of peripheral T cell lymphoma, solid tumors, and atopic dermatitis.