Jump Financial LLC Makes New $143,000 Investment in Corvus Pharmaceuticals, Inc. $CRVS

Key Points

• Jump Financial LLC invested approximately $143,000 in Corvus Pharmaceuticals, purchasing 45,013 shares, which represents 0.07% ownership in the company.
• Insider transactions revealed that Director Peter A. Thompson sold over 1.1 million shares for around $4.89 million, decreasing his ownership by 14.10%.
• Corvus Pharmaceuticals has a consensus rating of "Buy" among equity research analysts, with a current average price target of $15.00 per share.

Jump Financial LLC purchased a new position in shares of Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 45,013 shares of the company's stock, valued at approximately $143,000. Jump Financial LLC owned about 0.07% of Corvus Pharmaceuticals at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Sowell Financial Services LLC purchased a new position in shares of Corvus Pharmaceuticals during the 1st quarter worth $38,000. Alpine Global Management LLC purchased a new position in shares of Corvus Pharmaceuticals during the 4th quarter worth $62,000. Oppenheimer & Co. Inc. boosted its stake in shares of Corvus Pharmaceuticals by 24.9% during the 1st quarter. Oppenheimer & Co. Inc. now owns 22,534 shares of the company's stock worth $72,000 after acquiring an additional 4,490 shares during the last quarter. Man Group plc purchased a new position in shares of Corvus Pharmaceuticals during the 4th quarter worth $73,000. Finally, Tower Research Capital LLC TRC purchased a new position in shares of Corvus Pharmaceuticals during the 4th quarter worth $74,000. Hedge funds and other institutional investors own 46.64% of the company's stock.

Analyst Ratings Changes

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

Insider Buying and Selling

In other Corvus Pharmaceuticals news, Director Peter A. Thompson sold 1,176,332 shares of the business's stock in a transaction on Friday, June 27th. The shares were sold at an average price of $4.16, for a total value of $4,893,541.12. Following the sale, the director owned 7,165,006 shares in the company, valued at $29,806,424.96. The trade was a 14.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 28.50% of the stock is currently owned by insiders.

Corvus Pharmaceuticals Trading Down 3.9%

Shares of CRVS traded down $0.24 during trading hours on Wednesday, reaching $5.93. 576,422 shares of the stock traded hands, compared to its average volume of 580,095. Corvus Pharmaceuticals, Inc. has a 52-week low of $2.54 and a 52-week high of $10.00. The company's 50-day moving average price is $4.82 and its two-hundred day moving average price is $4.12. The company has a market cap of $441.84 million, a P/E ratio of -5.87 and a beta of 0.52.

Corvus Pharmaceuticals (NASDAQ:CRVS - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported ($0.10) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.03. On average, research analysts forecast that Corvus Pharmaceuticals, Inc. will post -0.63 EPS for the current year.

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.