Wellington Management Group LLP Has $40.81 Million Holdings in Corvus Pharmaceuticals, Inc. $CRVS

Wellington Management Group LLP lifted its stake in shares of Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) by 17.8% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 2,731,632 shares of the company’s stock after buying an additional 413,115 shares during the period. Wellington Management Group LLP’s holdings in Corvus Pharmaceuticals were worth $40,811,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. BlackRock Inc. acquired a new position in shares of Corvus Pharmaceuticals during the 2nd quarter valued at $106,654,000. MPM Bioimpact LLC acquired a new stake in Corvus Pharmaceuticals in the fourth quarter worth $21,126,000. Commodore Capital LP acquired a new stake in Corvus Pharmaceuticals in the first quarter worth $33,045,000. State Street Corp increased its stake in Corvus Pharmaceuticals by 177.1% in the fourth quarter. State Street Corp now owns 2,788,223 shares of the company’s stock valued at $21,469,000 after purchasing an additional 1,781,904 shares in the last quarter. Finally, Perceptive Advisors LLC raised its holdings in shares of Corvus Pharmaceuticals by 231.1% during the first quarter. Perceptive Advisors LLC now owns 2,292,441 shares of the company’s stock valued at $33,538,000 after purchasing an additional 1,600,000 shares during the period. Institutional investors own 46.64% of the company’s stock.

Insider Buying and Selling

In related news, Director David Moore acquired 21,700 shares of the stock in a transaction dated Thursday, June 11th. The stock was purchased at an average cost of $11.53 per share, with a total value of $250,201.00. Following the completion of the purchase, the director directly owned 21,700 shares in the company, valued at $250,201. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 19.70% of the company’s stock.

Wall Street Analyst Weigh In

CRVS has been the topic of a number of research analyst reports. LADENBURG THALM/SH SH raised shares of Corvus Pharmaceuticals to a “strong-buy” rating in a research report on Thursday, July 30th. Weiss Ratings raised Corvus Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, July 28th. Finally, Wall Street Zen downgraded Corvus Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $33.33.

Corvus Pharmaceuticals Price Performance

Shares of NASDAQ CRVS opened at $14.39 on Friday. The company has a 50-day moving average price of $14.45 and a 200-day moving average price of $14.51. The stock has a market capitalization of $1.21 billion, a P/E ratio of -23.59 and a beta of 0.87. Corvus Pharmaceuticals, Inc. has a 1 year low of $5.64 and a 1 year high of $26.95.

Corvus Pharmaceuticals (NASDAQ:CRVS) last posted its earnings results on Thursday, August 6th. The company reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.03). As a group, equities research analysts anticipate that Corvus Pharmaceuticals, Inc. will post -0.79 earnings per share for the current fiscal 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.