Spruce Street Capital LP bought a new stake in Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 231,585 shares of the company's stock, valued at approximately $3,459,880. Corvus Pharmaceuticals makes up approximately 0.0% of Spruce Street Capital LP's holdings, making the stock its 29th biggest holding. Spruce Street Capital LP owned approximately 0.28% of Corvus Pharmaceuticals at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in CRVS. Quarry LP acquired a new position in shares of Corvus Pharmaceuticals in the third quarter valued at approximately $27,000. Mirae Asset Global Investments Co. Ltd. lifted its position in Corvus Pharmaceuticals by 26.0% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,629 shares of the company's stock valued at $28,000 after acquiring an additional 748 shares during the period. Global Retirement Partners LLC purchased a new stake in Corvus Pharmaceuticals during the second quarter valued at $30,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Corvus Pharmaceuticals in the 2nd quarter worth $48,000. Finally, Russell Investments Group Ltd. purchased a new stake in Corvus Pharmaceuticals in the third quarter valued at approximately $49,000. Institutional investors and hedge funds own 46.64% of the company's stock.
Insider Buying and Selling
In related news, Director David Scott Moore acquired 21,700 shares of Corvus Pharmaceuticals stock in a transaction that occurred on Thursday, June 11th. The stock was acquired at an average price of $11.53 per share, with a total value of $250,201.00. Following the completion of the acquisition, the director directly owned 21,700 shares of the company's stock, valued at $250,201. This trade represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 19.70% of the stock is currently owned by corporate insiders.
Corvus Pharmaceuticals Stock Performance
Shares of NASDAQ CRVS traded down $0.65 during midday trading on Friday, reaching $14.07. The stock had a trading volume of 224,572 shares, compared to its average volume of 2,074,990. The company has a market capitalization of $1.18 billion, a price-to-earnings ratio of -23.07 and a beta of 0.87. The stock has a 50-day moving average of $14.27 and a 200-day moving average of $14.69. Corvus Pharmaceuticals, Inc. has a 12-month low of $5.34 and a 12-month high of $26.95.
Corvus Pharmaceuticals (NASDAQ:CRVS - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.19) earnings per share for the quarter, missing analysts' consensus estimates of ($0.16) by ($0.03). As a group, analysts forecast that Corvus Pharmaceuticals, Inc. will post -0.79 EPS for the current fiscal year.
Wall Street Analyst Weigh In
Several equities research analysts recently weighed in on CRVS shares. Wall Street Zen cut Corvus Pharmaceuticals from a "hold" rating to a "sell" rating in a research note on Saturday, May 9th. Weiss Ratings raised Corvus Pharmaceuticals from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Tuesday, July 28th. Finally, LADENBURG THALM/SH SH raised Corvus Pharmaceuticals to a "strong-buy" rating in a report on Thursday, July 30th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $33.33.
Read Our Latest Research Report on CRVS
Corvus Pharmaceuticals Company Profile
(
Free Report)
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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