Insider Buying: Corvus Pharmaceuticals (NASDAQ:CRVS) Insider Acquires 1,003 Shares of Stock

Key Points

• Insider Jeffrey Arcara bought 1,003 Corvus shares at an average $10.54 each, bringing his holdings to 4,500 shares; he also purchased 3,497 shares over the prior two trading days.
• Corvus reported a quarterly loss of $0.22 per share, missing analysts’ $0.19 loss estimate by $0.03.
• Analyst views are mixed: MarketBeat reports a “Moderate Buy” consensus and $32.83 average price target, while HC Wainwright lowered several future earnings estimates.

Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS - Get Free Report) insider Jeffrey Arcara acquired 1,003 shares of the business's stock in a transaction on Friday, November 13th. The shares were bought at an average cost of $10.54 per share, with a total value of $10,571.62. Following the completion of the acquisition, the insider owned 4,500 shares in the company, valued at approximately $47,430. This represents a 28.68% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Thursday, November 12th, Jeffrey Arcara acquired 497 shares of Corvus Pharmaceuticals stock. The shares were bought at an average price of $11.12 per share, for a total transaction of $5,526.64.
• On Wednesday, November 11th, Jeffrey Arcara bought 3,000 shares of Corvus Pharmaceuticals stock. The stock was bought at an average cost of $11.46 per share, for a total transaction of $34,380.00.

Corvus Pharmaceuticals Price Performance

Shares of CRVS stock traded up $0.02 during mid-day trading on Friday, hitting $10.64. The company had a trading volume of 620,431 shares, compared to its average volume of 1,837,983. Corvus Pharmaceuticals, Inc. has a 52-week low of $6.39 and a 52-week high of $26.95. The stock's 50 day moving average price is $11.26 and its 200-day moving average price is $14.10. The company has a market capitalization of $897.48 million, a P/E ratio of -14.99 and a beta of 1.57.

Corvus Pharmaceuticals (NASDAQ:CRVS - Get Free Report) last posted its earnings results on Thursday, November 5th. The company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.03). On average, equities research analysts expect that Corvus Pharmaceuticals, Inc. will post -0.80 earnings per share for the current year.

Latest Corvus Pharmaceuticals News

These are some of the CRVS news items that stood out recently:

• 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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Global Retirement Partners LLC bought a new stake in shares of Corvus Pharmaceuticals in the 2nd quarter worth about $30,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Corvus Pharmaceuticals during the 2nd quarter worth about $48,000. Mirae Asset Global Investments Co. Ltd. bought a new position in Corvus Pharmaceuticals during the 3rd quarter valued at about $50,000. State of Wyoming bought a new position in Corvus Pharmaceuticals during the 2nd quarter valued at about $71,000. Finally, Meeder Asset Management Inc. bought a new position in Corvus Pharmaceuticals during the 2nd quarter valued at about $90,000. Institutional investors own 46.64% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on CRVS shares. Cantor Fitzgerald reissued an "overweight" rating on shares of Corvus Pharmaceuticals in a report on Wednesday, September 16th. Weiss Ratings restated a "sell (d-)" rating on shares of Corvus Pharmaceuticals in a research report on Monday, October 26th. Wall Street Zen cut Corvus Pharmaceuticals from a "sell" rating to a "strong sell" rating in a report on Saturday, November 7th. Mizuho set a $27.00 target price on Corvus Pharmaceuticals in a research report on Thursday, October 29th. Finally, Ladenburg Thalmann & Co. Inc. raised Corvus Pharmaceuticals to a "strong-buy" rating in a research note on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus 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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