The Manufacturers Life Insurance Company Purchases New Stake in Corvus Pharmaceuticals, Inc. $CRVS

The Manufacturers Life Insurance Company bought a new position in shares of Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) in the 2nd quarter, HoldingsChannel reports. The fund bought 82,907 shares of the company’s stock, valued at approximately $1,239,000.

Several other large investors have also added to or reduced their stakes in the business. Global Retirement Partners LLC purchased a new stake in shares of Corvus Pharmaceuticals in the second quarter worth approximately $30,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Corvus Pharmaceuticals during the second quarter worth about $48,000. Quarry LP bought a new stake in Corvus Pharmaceuticals in the 3rd quarter worth about $27,000. State of Wyoming bought a new stake in Corvus Pharmaceuticals in the 2nd quarter worth about $71,000. Finally, Meeder Asset Management Inc. purchased a new stake in Corvus Pharmaceuticals in the 2nd quarter valued at about $90,000. Institutional investors own 46.64% of the company’s stock.

Corvus Pharmaceuticals Stock Performance

Corvus Pharmaceuticals stock opened at $14.39 on Friday. Corvus Pharmaceuticals, Inc. has a fifty-two week low of $5.64 and a fifty-two week high of $26.95. The stock has a market cap of $1.21 billion, a P/E ratio of -23.59 and a beta of 0.87. The firm’s fifty day moving average price is $14.45 and its 200-day moving average price is $14.51.

Corvus Pharmaceuticals (NASDAQ:CRVS) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.03). Sell-side analysts predict that Corvus Pharmaceuticals, Inc. will post -0.79 earnings per share for the current year.

Insider Activity

In other Corvus Pharmaceuticals news, Director David Moore purchased 21,700 shares of the company’s stock in a transaction dated Thursday, June 11th. The stock was purchased at an average price of $11.53 per share, for a total transaction of $250,201.00. Following the transaction, the director 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 document filed with the SEC, which is available through the SEC website. Company insiders own 19.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on CRVS shares. Wall Street Zen downgraded Corvus Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Weiss Ratings raised Corvus Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, July 28th. Finally, LADENBURG THALM/SH SH upgraded shares of 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 given a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Corvus Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus target price of $33.33.

Corvus Pharmaceuticals 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.