Corvus Pharmaceuticals, Inc. $CRVS Shares Acquired by Braidwell LP

Braidwell LP grew its stake in Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) by 21.3% in the second quarter, HoldingsChannel reports. The institutional investor owned 2,126,298 shares of the company’s stock after buying an additional 373,500 shares during the period. Braidwell LP’s holdings in Corvus Pharmaceuticals were worth $31,767,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. The Manufacturers Life Insurance Company increased its position in shares of Corvus Pharmaceuticals by 481.7% in the 1st quarter. The Manufacturers Life Insurance Company now owns 101,779 shares of the company’s stock valued at $1,489,000 after acquiring an additional 84,282 shares during the period. DCF Advisers LLC purchased a new position in Corvus Pharmaceuticals in the 2nd quarter worth $9,524,000. Blue Owl Capital Holdings LP acquired a new stake in Corvus Pharmaceuticals during the 2nd quarter worth about $9,092,000. Renaissance Technologies LLC acquired a new stake in Corvus Pharmaceuticals during the 1st quarter worth about $1,190,000. Finally, Avidity Partners Management LP purchased a new stake in Corvus Pharmaceuticals during the 1st quarter valued at about $1,682,000. 46.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently weighed in on CRVS shares. LADENBURG THALM/SH SH raised Corvus Pharmaceuticals to a “strong-buy” rating in a report on Thursday, July 30th. Weiss Ratings raised Corvus Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, July 28th. Finally, Wall Street Zen lowered Corvus Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. One investment 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, Corvus Pharmaceuticals presently has an average rating of “Moderate Buy” and an average price target of $33.33.

Insider Buying and Selling at Corvus Pharmaceuticals

In other news, Director David Scott Moore bought 21,700 shares of the stock in a transaction dated Thursday, June 11th. The shares were acquired at an average cost 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. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 19.70% of the company’s stock.

Corvus Pharmaceuticals Price Performance

NASDAQ:CRVS opened at $14.20 on Thursday. The firm has a market cap of $1.19 billion, a price-to-earnings ratio of -23.28 and a beta of 0.87. The company has a 50 day moving average price of $14.40 and a 200-day moving average price of $14.54. Corvus Pharmaceuticals, Inc. has a 1-year low of $5.58 and a 1-year high of $26.95.

Corvus Pharmaceuticals (NASDAQ:CRVS) last announced its quarterly earnings results 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, sell-side analysts anticipate that Corvus Pharmaceuticals, Inc. will post -0.79 earnings per share for the current fiscal year.

Corvus Pharmaceuticals Company Profile

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.