SEB Asset Management AB Makes New Investment in Corvus Pharmaceuticals, Inc. $CRVS

Key Points

• SEB Asset Management AB initiated a new position in Corvus Pharmaceuticals during the first quarter, buying 226,837 shares worth about $3.32 million. The stake represented roughly 0.27% of the company.
• Institutional interest remains meaningful, with hedge funds and other institutions owning 46.64% of Corvus shares. Recent filings also show additional buying and position increases from several smaller investment firms.
• Analyst sentiment is mixed but still tilted positive: Goldman Sachs assigned a Buy rating with a $40 price target, while other firms recently downgraded the stock. Corvus also reported a recent quarterly EPS miss and the shares were trading lower on the day.

SEB Asset Management AB bought a new stake in Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 226,837 shares of the company's stock, valued at approximately $3,319,000. SEB Asset Management AB owned 0.27% of Corvus Pharmaceuticals at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Quarry LP purchased a new stake in Corvus Pharmaceuticals in the 3rd quarter worth about $27,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Corvus Pharmaceuticals by 26.0% during the fourth 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. purchased a new stake in Corvus Pharmaceuticals during the third quarter valued at about $49,000. Sender Co & Partners Inc. bought a new position in Corvus Pharmaceuticals during the second quarter worth about $52,000. Finally, Bayesian Capital Management LP bought a new position in Corvus Pharmaceuticals during the second quarter worth about $70,000. Hedge funds and other institutional investors own 46.64% of the company's stock.

Analyst Ratings Changes

Several research firms have recently issued reports on CRVS. Weiss Ratings lowered shares of Corvus Pharmaceuticals from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Friday, July 10th. Wall Street Zen downgraded shares of Corvus Pharmaceuticals from a "hold" rating to a "sell" rating in a report on Saturday, May 9th. Finally, The Goldman Sachs Group started coverage on shares of Corvus Pharmaceuticals in a research note on Friday, April 17th. They issued a "buy" rating and a $40.00 price objective for the company. Six equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $33.33.

Corvus Pharmaceuticals Trading Down 3.3%

Shares of Corvus Pharmaceuticals stock opened at $13.99 on Thursday. The company's 50-day moving average price is $13.20 and its 200-day moving average price is $14.85. Corvus Pharmaceuticals, Inc. has a 12-month low of $3.96 and a 12-month high of $26.95. The company has a market cap of $1.18 billion, a price-to-earnings ratio of -26.90 and a beta of 0.82.

Corvus Pharmaceuticals (NASDAQ:CRVS - Get Free Report) last posted its earnings results on Thursday, May 7th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.01). On average, sell-side analysts predict that Corvus Pharmaceuticals, Inc. will post -0.7 earnings per share for the current year.

Insider Buying and Selling at Corvus Pharmaceuticals

In other Corvus Pharmaceuticals news, Director David Scott Moore acquired 21,700 shares of the stock in a transaction that occurred on Thursday, June 11th. The shares were bought at an average price of $11.53 per share, for a total transaction of $250,201.00. Following the completion of the transaction, the director owned 21,700 shares of the company's stock, valued at approximately $250,201. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 19.70% of the company's stock.

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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