Emerald Advisers LLC Invests $10.04 Million in Corvus Pharmaceuticals, Inc. $CRVS

Emerald Advisers LLC acquired a new stake in Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 686,216 shares of the company’s stock, valued at approximately $10,039,000.

Other large investors have also added to or reduced their stakes in the company. Geode Capital Management LLC grew its position in Corvus Pharmaceuticals by 130.7% in the second quarter. Geode Capital Management LLC now owns 1,361,740 shares of the company’s stock valued at $5,448,000 after purchasing an additional 771,454 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Corvus Pharmaceuticals by 541.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 30,420 shares of the company’s stock worth $122,000 after buying an additional 25,681 shares in the last quarter. Rhumbline Advisers boosted its stake in shares of Corvus Pharmaceuticals by 9,501.8% during the 2nd quarter. Rhumbline Advisers now owns 75,950 shares of the company’s stock worth $304,000 after buying an additional 75,159 shares during the last quarter. Hsbc Holdings PLC bought a new position in shares of Corvus Pharmaceuticals in the 2nd quarter valued at about $332,000. Finally, New York State Common Retirement Fund bought a new position in shares of Corvus Pharmaceuticals in the 2nd quarter valued at about $95,000. Institutional investors and hedge funds own 46.64% of the company’s stock.

Corvus Pharmaceuticals Price Performance

Shares of CRVS opened at $14.71 on Tuesday. The firm has a 50-day moving average of $13.34 and a 200-day moving average of $14.51. Corvus Pharmaceuticals, Inc. has a one year low of $3.96 and a one year high of $26.95. The company has a market cap of $1.24 billion, a PE ratio of -28.29 and a beta of 0.82.

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

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Weiss Ratings downgraded Corvus Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday. Wall Street Zen downgraded Corvus Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Finally, The Goldman Sachs Group initiated coverage on Corvus Pharmaceuticals in a research report on Friday, April 17th. They set a “buy” rating and a $40.00 price target on the stock. Six analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Corvus Pharmaceuticals presently has an average rating of “Moderate Buy” and an average target price of $33.33.

Insiders Place Their Bets

In other Corvus Pharmaceuticals news, Director David Scott Moore purchased 21,700 shares of the stock in a transaction on Thursday, June 11th. The shares were purchased at an average price of $11.53 per share, with a total value of $250,201.00. Following the completion of the transaction, the director directly owned 21,700 shares in the company, valued at $250,201. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 19.70% of the stock is currently owned by company 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.