Wellington Management Group LLP Takes $333,000 Position in Corvus Pharmaceuticals, Inc. $CRVS

Wellington Management Group LLP bought a new stake in shares of Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 104,872 shares of the company's stock, valued at approximately $333,000. Wellington Management Group LLP owned approximately 0.15% of Corvus Pharmaceuticals at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Oppenheimer & Co. Inc. boosted its stake in Corvus Pharmaceuticals by 24.9% during the first quarter. Oppenheimer & Co. Inc. now owns 22,534 shares of the company's stock worth $72,000 after acquiring an additional 4,490 shares in the last quarter. Masso Torrence Wealth Management Inc. raised its stake in Corvus Pharmaceuticals by 16.7% during the first quarter. Masso Torrence Wealth Management Inc. now owns 35,000 shares of the company's stock valued at $111,000 after buying an additional 5,000 shares during the last quarter. 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 worth $122,000 after acquiring an additional 10,869 shares in the last quarter. Alpine Global Management LLC purchased a new stake in shares of Corvus Pharmaceuticals in the fourth quarter worth $62,000. Finally, Sowell Financial Services LLC purchased a new stake in Corvus Pharmaceuticals during the 1st quarter valued at about $38,000. 46.64% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on CRVS shares. Oppenheimer reiterated an "outperform" rating and issued a $17.00 target price (up previously from $15.00) on shares of Corvus Pharmaceuticals in a research note on Friday, May 9th. Wall Street Zen raised Corvus Pharmaceuticals from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Finally, Mizuho set a $11.00 price target on Corvus Pharmaceuticals and gave the stock an "outperform" rating in a research note on Tuesday, May 20th. Four equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Corvus Pharmaceuticals presently has a consensus rating of "Buy" and an average target price of $15.00.

Corvus Pharmaceuticals Stock Down 0.9%

CRVS traded down $0.05 during midday trading on Wednesday, reaching $5.62. The company had a trading volume of 565,507 shares, compared to its average volume of 496,328. Corvus Pharmaceuticals, Inc. has a 1 year low of $2.54 and a 1 year high of $10.00. The company has a market cap of $418.75 million, a P/E ratio of -5.56 and a beta of 0.52. The business has a 50-day moving average of $4.62 and a two-hundred day moving average of $4.07.

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

Insiders Place Their Bets

In other Corvus Pharmaceuticals news, Director Peter A. Thompson sold 1,176,332 shares of the stock in a transaction on Friday, June 27th. The stock was sold at an average price of $4.16, for a total value of $4,893,541.12. Following the completion of the sale, the director owned 7,165,006 shares in the company, valued at approximately $29,806,424.96. This represents a 14.10% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 31.30% of the company's stock.

Corvus Pharmaceuticals Company Profile

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.