SEB Asset Management AB Invests $3.32 Million in Corvus Pharmaceuticals, Inc. $CRVS

SEB Asset Management AB acquired a new position in Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 226,837 shares of the company’s stock, valued at approximately $3,319,000.

Other hedge funds have also bought and sold shares of the company. Quarry LP bought a new stake in Corvus Pharmaceuticals during the third quarter valued at approximately $27,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Corvus Pharmaceuticals by 26.0% in the 4th 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 during the last quarter. Russell Investments Group Ltd. bought a new position in shares of Corvus Pharmaceuticals in the 3rd quarter worth $49,000. Sender Co & Partners Inc. purchased a new stake in shares of Corvus Pharmaceuticals during the 2nd quarter valued at $52,000. Finally, Bayesian Capital Management LP purchased a new stake in shares of Corvus Pharmaceuticals during the 2nd quarter valued at $70,000. 46.64% of the stock is currently owned by institutional investors.

Corvus Pharmaceuticals Price Performance

Shares of NASDAQ CRVS opened at $13.99 on Thursday. Corvus Pharmaceuticals, Inc. has a one year low of $3.96 and a one year high of $26.95. The firm’s 50 day simple moving average is $13.20 and its two-hundred day simple moving average is $14.85. The stock has a market capitalization of $1.18 billion, a P/E ratio of -26.90 and a beta of 0.82.

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

Insider Activity at Corvus Pharmaceuticals

In other Corvus Pharmaceuticals news, Director David Scott Moore bought 21,700 shares of Corvus Pharmaceuticals stock in a transaction that occurred on Thursday, June 11th. The shares were bought at an average price of $11.53 per share, with a total value of $250,201.00. Following the acquisition, the director owned 21,700 shares in the company, valued at approximately $250,201. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 19.70% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on CRVS. 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 assumed 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. Finally, Weiss Ratings lowered Corvus Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, July 10th. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target 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.