Polymer Capital Management HK LTD Acquires New Holdings in Corvus Pharmaceuticals, Inc. $CRVS

Polymer Capital Management HK LTD bought a new stake in Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 263,662 shares of the company’s stock, valued at approximately $3,939,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CRVS. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Corvus Pharmaceuticals during the second quarter worth $3,253,000. Blue Owl Capital Holdings LP acquired a new stake in shares of Corvus Pharmaceuticals during the 2nd quarter valued at $9,092,000. E Fund Management Co. Ltd. acquired a new stake in shares of Corvus Pharmaceuticals during the 2nd quarter valued at $172,000. DCF Advisers LLC bought a new stake in Corvus Pharmaceuticals during the 2nd quarter worth $9,524,000. Finally, Meeder Asset Management Inc. bought a new stake in Corvus Pharmaceuticals during the 2nd quarter worth $90,000. Institutional investors own 46.64% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports 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 research note on Tuesday, July 28th. Finally, Wall Street Zen cut Corvus Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $33.33.

Corvus Pharmaceuticals Stock Performance

CRVS stock opened at $14.46 on Monday. The company has a fifty day moving average price of $14.06 and a 200-day moving average price of $14.86. The company has a market capitalization of $1.22 billion, a P/E ratio of -23.70 and a beta of 0.87. Corvus Pharmaceuticals, Inc. has a 52-week low of $5.22 and a 52-week high of $26.95.

Corvus Pharmaceuticals (NASDAQ:CRVS) last issued 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). As a group, sell-side analysts forecast that Corvus Pharmaceuticals, Inc. will post -0.79 earnings per share for the current fiscal year.

Insider Transactions at Corvus Pharmaceuticals

In related news, Director David Scott Moore bought 21,700 shares of the stock in a transaction that occurred on Thursday, June 11th. The stock was acquired at an average cost of $11.53 per share, with a total value of $250,201.00. Following the transaction, the director directly owned 21,700 shares in the company, valued at approximately $250,201. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 19.70% of the stock is currently owned by corporate insiders.

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.