Corvus Pharmaceuticals (NASDAQ:CRVS) Stock: Insider Jeffrey Arcara Buys 3,000 Shares

Key Points

• Insider Jeffrey Arcara bought 3,000 Corvus Pharmaceuticals shares on November 11 at an average price of $11.46, a $34,380 transaction disclosed in an SEC filing. The article also reports two additional purchases on November 12 and 13.
• CRVS traded at $10.64 on Friday, below its 50-day and 200-day moving averages; its 12-month range is $6.39 to $26.95.
• Corvus reported a quarterly loss of $0.22 per share, missing analyst expectations of a $0.19 loss. Analyst opinions are mixed, though MarketBeat lists an overall “Moderate Buy” rating and a consensus price target of $32.83.

Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS - Get Free Report) insider Jeffrey Arcara purchased 3,000 shares of Corvus Pharmaceuticals stock in a transaction dated Wednesday, November 11th. The stock was bought at an average cost of $11.46 per share, with a total value of $34,380.00. Following the completion of the transaction, the insider owned 3,000 shares in the company, valued at approximately $34,380. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website.

Jeffrey Arcara also recently made the following trade(s):

• On Friday, November 13th, Jeffrey Arcara acquired 1,003 shares of Corvus Pharmaceuticals stock. The shares were bought at an average price of $10.54 per share, with a total value of $10,571.62.
• On Thursday, November 12th, Jeffrey Arcara acquired 497 shares of Corvus Pharmaceuticals stock. The shares were bought at an average cost of $11.12 per share, for a total transaction of $5,526.64.

Corvus Pharmaceuticals Stock Performance

CRVS stock traded up $0.02 during trading on Friday, reaching $10.64. 620,431 shares of the company traded hands, compared to its average volume of 1,837,983. The business has a 50 day simple moving average of $11.26 and a 200 day simple moving average of $14.10. Corvus Pharmaceuticals, Inc. has a 12 month low of $6.39 and a 12 month high of $26.95. The company has a market capitalization of $897.48 million, a price-to-earnings ratio of -14.99 and a beta of 1.57.

Corvus Pharmaceuticals (NASDAQ:CRVS - Get Free Report) last announced its earnings results on Thursday, November 5th. The company reported ($0.22) EPS for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.03). As a group, research analysts forecast that Corvus Pharmaceuticals, Inc. will post -0.80 EPS for the current year.

Institutional Investors Weigh In On Corvus Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new stake in shares of Corvus Pharmaceuticals during the second quarter valued at $106,654,000. Commodore Capital LP acquired a new position in shares of Corvus Pharmaceuticals in the 1st quarter valued at $33,045,000. Perceptive Advisors LLC raised its stake in Corvus Pharmaceuticals by 231.1% in the 1st quarter. Perceptive Advisors LLC now owns 2,292,441 shares of the company's stock worth $33,538,000 after acquiring an additional 1,600,000 shares during the last quarter. Fisher Asset Management LLC purchased a new position in Corvus Pharmaceuticals in the 3rd quarter worth $11,988,000. Finally, Bank of America Corp DE purchased a new position in Corvus Pharmaceuticals in the 2nd quarter worth $11,322,000. Institutional investors and hedge funds own 46.64% of the company's stock.

Trending Headlines about Corvus Pharmaceuticals

Here are a few of the latest headlines about CRVS:

• Positive Sentiment: A Globe and Mail headline includes Corvus among healthcare stocks analysts are bullish on, though the article details provided do not specify a rating or price target. Analysts Are Bullish on Top Healthcare Stocks: Corvus Pharmaceuticals (CRVS), Achieve Life Sciences (QUIT)
• Negative Sentiment: HC Wainwright cut estimates across multiple periods. It now expects a $1.04-per-share loss in 2027, versus its prior $0.80 loss estimate, and a $0.90 loss in 2028, versus $0.37 previously. It also reduced its 2029 forecast from near breakeven to a $0.43 loss and lowered its 2030 profit estimate to $0.45 from $0.67. The revisions suggest a slower improvement in earnings and could weigh on investor sentiment. HC Wainwright earnings estimate updates

Analyst Upgrades and Downgrades

CRVS has been the subject of several recent analyst reports. Cantor Fitzgerald reiterated an "overweight" rating on shares of Corvus Pharmaceuticals in a research note on Wednesday, September 16th. Weiss Ratings reissued a "sell (d-)" rating on shares of Corvus Pharmaceuticals in a research report on Monday, October 26th. Wall Street Zen downgraded shares of Corvus Pharmaceuticals from a "sell" rating to a "strong sell" rating in a research note on Saturday, November 7th. Ladenburg Thalmann & Co. Inc. raised shares of Corvus Pharmaceuticals to a "strong-buy" rating in a report on Thursday, July 30th. Finally, Mizuho set a $27.00 price target on shares of Corvus Pharmaceuticals in a report on Thursday, October 29th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $32.83.

Corvus Pharmaceuticals Company Profile

Corvus Pharmaceuticals is a clinical-stage biopharmaceutical company focused on developing medicines that target the immune system to treat cancer and immune-related diseases. The company is based in Burlingame, California, and its work centers on therapies in clinical development rather than marketed products. Its lead candidate, soquelitinib (also known as CPI-818), is an oral inhibitor of interleukin-2-inducible T-cell kinase, or ITK. Corvus is developing the drug for T-cell lymphoma and has also explored its potential in inflammatory and autoimmune conditions, including atopic dermatitis.

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