Insider Buying: Corvus Pharmaceuticals (NASDAQ:CRVS) Director Buys 21,700 Shares of Stock

Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) Director David Scott Moore purchased 21,700 shares of the business’s stock in a transaction 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 purchase, the director directly owned 21,700 shares in the company, valued at $250,201. This represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Corvus Pharmaceuticals Stock Performance

Shares of Corvus Pharmaceuticals stock traded down $0.03 during trading hours on Monday, hitting $11.90. The company’s stock had a trading volume of 704,413 shares, compared to its average volume of 2,549,292. The business has a 50 day moving average price of $14.00 and a two-hundred day moving average price of $13.69. Corvus Pharmaceuticals, Inc. has a 12-month low of $3.55 and a 12-month high of $26.95. The company has a market cap of $1.00 billion, a PE ratio of -22.88 and a beta of 0.84.

Corvus Pharmaceuticals (NASDAQ:CRVS) last released 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). As a group, research analysts anticipate that Corvus Pharmaceuticals, Inc. will post -0.7 earnings per share for the current year.

Institutional Trading of Corvus Pharmaceuticals

A number of large investors have recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. increased its stake in Corvus Pharmaceuticals by 26.0% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,629 shares of the company’s stock worth $28,000 after acquiring an additional 748 shares during the last quarter. ProShare Advisors LLC increased its stake in Corvus Pharmaceuticals by 7.7% in the 4th quarter. ProShare Advisors LLC now owns 13,764 shares of the company’s stock worth $106,000 after acquiring an additional 979 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in Corvus Pharmaceuticals by 5.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 34,105 shares of the company’s stock worth $263,000 after acquiring an additional 1,696 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Corvus Pharmaceuticals by 6.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 32,232 shares of the company’s stock worth $238,000 after acquiring an additional 1,812 shares during the last quarter. Finally, Shelton Wealth Management LLC increased its stake in Corvus Pharmaceuticals by 13.8% in the 4th quarter. Shelton Wealth Management LLC now owns 15,638 shares of the company’s stock worth $120,000 after acquiring an additional 1,896 shares during the last quarter. Institutional investors own 46.64% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Oppenheimer reiterated an “outperform” rating and set a $33.00 price objective (up from $32.00) on shares of Corvus Pharmaceuticals in a research report on Friday, March 13th. Cantor Fitzgerald restated an “overweight” rating on shares of Corvus Pharmaceuticals in a research report on Friday, March 13th. The Goldman Sachs Group assumed coverage on shares of Corvus Pharmaceuticals in a research note on Friday, April 17th. They set a “buy” rating and a $40.00 target price for the company. Wall Street Zen downgraded shares of Corvus Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Finally, Weiss Ratings raised shares of Corvus Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, April 29th. Six analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $33.33.

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.