Perceptive Advisors LLC Buys 1,600,000 Shares of Corvus Pharmaceuticals, Inc. $CRVS

Perceptive Advisors LLC grew its position in Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) by 231.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,292,441 shares of the company’s stock after acquiring an additional 1,600,000 shares during the quarter. Perceptive Advisors LLC’s holdings in Corvus Pharmaceuticals were worth $33,538,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of CRVS. Quarry LP bought a new position in Corvus Pharmaceuticals in the third quarter worth $27,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in 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 buying an additional 748 shares in the last quarter. Russell Investments Group Ltd. bought a new stake in Corvus Pharmaceuticals in the 3rd quarter valued at $49,000. Sender Co & Partners Inc. bought a new stake in Corvus Pharmaceuticals in the 2nd quarter valued at $52,000. Finally, Bayesian Capital Management LP acquired a new position in shares of Corvus Pharmaceuticals in the 2nd quarter valued at $70,000. Institutional investors and hedge funds own 46.64% of the company’s stock.

Corvus Pharmaceuticals Stock Performance

Shares of NASDAQ CRVS opened at $13.26 on Friday. The stock has a market cap of $1.12 billion, a PE ratio of -25.50 and a beta of 0.82. The business has a fifty day moving average of $13.30 and a two-hundred day moving average of $15.10. Corvus Pharmaceuticals, Inc. has a 52-week low of $3.96 and a 52-week high of $26.95.

Corvus Pharmaceuticals (NASDAQ:CRVS) last posted its earnings results on Thursday, May 7th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.01). Analysts predict that Corvus Pharmaceuticals, Inc. will post -0.7 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director David Scott Moore acquired 21,700 shares of the company’s stock in a transaction dated Thursday, June 11th. The stock was bought at an average price of $11.53 per share, with a total value of $250,201.00. Following the completion of the acquisition, the director owned 21,700 shares in the company, valued at approximately $250,201. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 19.70% of the company’s stock.

Analyst Upgrades and Downgrades

CRVS has been the topic of several recent research reports. Wall Street Zen lowered shares of Corvus Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. The Goldman Sachs Group began coverage on shares of Corvus Pharmaceuticals in a research report on Friday, April 17th. They issued a “buy” rating and a $40.00 price target for the company. Weiss Ratings upgraded shares of Corvus Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday. Finally, LADENBURG THALM/SH SH raised Corvus Pharmaceuticals to a “strong-buy” rating in a report on Thursday. 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 stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $33.33.

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.