Emerald Advisers LLC Invests $10.04 Million in Corvus Pharmaceuticals, Inc. $CRVS

Key Points

• Emerald Advisers LLC disclosed a new position in Corvus Pharmaceuticals, buying 686,216 shares valued at about $10.04 million in the first quarter. The stake represented 0.82% of the company.
• Institutional interest in CRVS remains notable, with several other hedge funds and investors also adding or initiating positions. Overall, institutional investors own 46.64% of the stock.
• Analyst sentiment is mixed but leans positive: Goldman Sachs started coverage with a buy rating and a $40 price target, while other firms downgraded the stock. MarketBeat data shows a consensus rating of Moderate Buy and a target price of $33.33.

Emerald Advisers LLC bought a new stake in Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 686,216 shares of the company's stock, valued at approximately $10,039,000. Emerald Advisers LLC owned 0.82% of Corvus Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in CRVS. Quarry LP acquired a new stake in Corvus Pharmaceuticals in the third quarter worth about $27,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Corvus Pharmaceuticals by 26.0% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,629 shares of the company's stock valued at $28,000 after purchasing an additional 748 shares during the last quarter. Russell Investments Group Ltd. acquired a new stake in shares of Corvus Pharmaceuticals during the 3rd quarter worth approximately $49,000. Sender Co & Partners Inc. acquired a new stake in shares of Corvus Pharmaceuticals during the 2nd quarter worth approximately $52,000. Finally, Bayesian Capital Management LP acquired a new position in Corvus Pharmaceuticals in the second quarter valued at approximately $70,000. Institutional investors and hedge funds own 46.64% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CRVS. Wall Street Zen cut shares of Corvus Pharmaceuticals from a "hold" rating to a "sell" rating in a research note on Saturday, May 9th. Weiss Ratings cut shares of Corvus Pharmaceuticals from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Friday. Finally, The Goldman Sachs Group started coverage on Corvus Pharmaceuticals in a report on Friday, April 17th. They issued a "buy" rating and a $40.00 price objective for the company. Six analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $33.33.

Corvus Pharmaceuticals Stock Down 6.1%

Shares of CRVS stock opened at $14.71 on Tuesday. The firm has a fifty day moving average of $13.34 and a 200-day moving average of $14.51. Corvus Pharmaceuticals, Inc. has a 12-month low of $3.96 and a 12-month high of $26.95. The company has a market capitalization of $1.24 billion, a price-to-earnings ratio of -28.29 and a beta of 0.82.

Corvus Pharmaceuticals (NASDAQ:CRVS - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.15) EPS for the quarter, missing analysts' consensus estimates of ($0.14) by ($0.01). On average, equities analysts expect that Corvus Pharmaceuticals, Inc. will post -0.7 EPS for the current year.

Insider Activity

In other news, Director David Scott Moore purchased 21,700 shares of the business's stock in a transaction dated Thursday, June 11th. The shares were bought at an average cost of $11.53 per share, for a total transaction of $250,201.00. Following the completion of the acquisition, the director directly owned 21,700 shares in the company, valued at approximately $250,201. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 19.70% of the stock is owned by corporate insiders.

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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