The Manufacturers Life Insurance Company Acquires 84,282 Shares of Corvus Pharmaceuticals, Inc. $CRVS

The Manufacturers Life Insurance Company raised its stake in shares of Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) by 481.7% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 101,779 shares of the company’s stock after purchasing an additional 84,282 shares during the period. The Manufacturers Life Insurance Company’s holdings in Corvus Pharmaceuticals were worth $1,489,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Quarry LP purchased a new stake in shares of Corvus Pharmaceuticals in the third quarter worth approximately $27,000. Mirae Asset Global Investments Co. Ltd. boosted 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 valued at $28,000 after buying an additional 748 shares during the last quarter. Russell Investments Group Ltd. bought a new stake in Corvus Pharmaceuticals during the third quarter worth $49,000. Sender Co & Partners Inc. bought a new stake in Corvus Pharmaceuticals during the second quarter worth $52,000. Finally, Bayesian Capital Management LP purchased a new stake in Corvus Pharmaceuticals in the 2nd quarter valued at $70,000. 46.64% of the stock is owned by institutional investors.

Insider Transactions at Corvus Pharmaceuticals

In other news, Director David Scott Moore bought 21,700 shares of the stock in a transaction on Thursday, June 11th. The shares were purchased at an average cost of $11.53 per share, for a total transaction 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 represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 19.70% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have weighed in on CRVS. LADENBURG THALM/SH SH upgraded Corvus Pharmaceuticals to a “strong-buy” rating in a research note on Thursday, July 30th. Wall Street Zen lowered shares of Corvus Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Weiss Ratings upgraded shares of Corvus Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, July 28th. Finally, The Goldman Sachs Group began coverage on shares of Corvus Pharmaceuticals in a research report on Friday, April 17th. They set a “buy” rating and a $40.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Corvus Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average target price of $33.33.

Corvus Pharmaceuticals Stock Down 1.3%

Corvus Pharmaceuticals stock opened at $13.74 on Tuesday. Corvus Pharmaceuticals, Inc. has a twelve month low of $4.26 and a twelve month high of $26.95. The firm has a 50 day moving average price of $13.44 and a 200-day moving average price of $15.33. The company has a market capitalization of $1.16 billion, a P/E ratio of -22.52 and a beta of 0.87.

Corvus Pharmaceuticals (NASDAQ:CRVS) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.19) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.03). Equities analysts expect that Corvus Pharmaceuticals, Inc. will post -0.7 EPS 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.