Hikari Power Ltd Purchases New Stake in Corvus Pharmaceuticals, Inc. $CRVS

Hikari Power Ltd purchased a new stake in shares of Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 49,959 shares of the company’s stock, valued at approximately $746,000. Corvus Pharmaceuticals makes up 0.1% of Hikari Power Ltd’s investment portfolio, making the stock its 26th biggest position. Hikari Power Ltd owned 0.06% of Corvus Pharmaceuticals as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Global Retirement Partners LLC bought a new position in shares of Corvus Pharmaceuticals in the second quarter valued at $30,000. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Corvus Pharmaceuticals by 26.0% during the fourth 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 in the last quarter. Quarry LP acquired a new stake in shares of Corvus Pharmaceuticals in the 3rd quarter worth about $27,000. State of Wyoming acquired a new stake in shares of Corvus Pharmaceuticals in the 2nd quarter worth about $71,000. Finally, Russell Investments Group Ltd. bought a new position in Corvus Pharmaceuticals in the 3rd quarter valued at about $49,000. Institutional investors and hedge funds own 46.64% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on CRVS shares. Weiss Ratings raised Corvus Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, July 28th. Wall Street Zen lowered Corvus Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Finally, LADENBURG THALM/SH SH upgraded Corvus Pharmaceuticals to a “strong-buy” rating in a report on Thursday, July 30th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Corvus Pharmaceuticals currently has an average rating of “Moderate Buy” and an average price target of $33.33.

Insider Buying and Selling at Corvus Pharmaceuticals

In other Corvus Pharmaceuticals news, Director David Scott Moore bought 21,700 shares of the business’s stock in a transaction dated Thursday, June 11th. The shares were purchased at an average price of $11.53 per share, for a total transaction of $250,201.00. Following the purchase, the director directly owned 21,700 shares of the company’s stock, valued at approximately $250,201. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 19.70% of the stock is owned by insiders.

Corvus Pharmaceuticals Price Performance

CRVS opened at $14.89 on Monday. Corvus Pharmaceuticals, Inc. has a fifty-two week low of $4.92 and a fifty-two week high of $26.95. The firm has a market capitalization of $1.25 billion, a P/E ratio of -24.41 and a beta of 0.87. The company’s 50-day moving average is $13.72 and its 200 day moving average is $15.08.

Corvus Pharmaceuticals (NASDAQ:CRVS) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.03). On average, equities research analysts expect that Corvus Pharmaceuticals, Inc. will post -0.79 earnings per share for the current year.

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.