The Manufacturers Life Insurance Company Makes New Investment in Corvus Pharmaceuticals, Inc. $CRVS

The Manufacturers Life Insurance Company acquired a new stake in Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 82,907 shares of the company’s stock, valued at approximately $1,239,000. The Manufacturers Life Insurance Company owned about 0.10% of Corvus Pharmaceuticals at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in Corvus Pharmaceuticals in the second quarter valued at $106,654,000. MPM Bioimpact LLC acquired a new stake in Corvus Pharmaceuticals in the 4th quarter valued at about $21,126,000. Commodore Capital LP bought a new position in Corvus Pharmaceuticals during the first quarter worth about $33,045,000. State Street Corp increased its position in Corvus Pharmaceuticals by 177.1% during the fourth quarter. State Street Corp now owns 2,788,223 shares of the company’s stock worth $21,469,000 after buying an additional 1,781,904 shares during the last quarter. Finally, Perceptive Advisors LLC increased its position in Corvus Pharmaceuticals by 231.1% during the first quarter. Perceptive Advisors LLC now owns 2,292,441 shares of the company’s stock worth $33,538,000 after buying an additional 1,600,000 shares during the last quarter. 46.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Corvus Pharmaceuticals news, Director David Moore bought 21,700 shares of Corvus Pharmaceuticals stock in a transaction on Thursday, June 11th. The shares were purchased at an average cost of $11.53 per share, with a total value of $250,201.00. Following the acquisition, the director directly owned 21,700 shares of the company’s stock, valued at $250,201. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 19.70% of the stock is owned by corporate insiders.

Corvus Pharmaceuticals Stock Performance

Shares of CRVS opened at $14.39 on Friday. Corvus Pharmaceuticals, Inc. has a 52-week low of $5.64 and a 52-week high of $26.95. The business’s fifty day moving average is $14.45 and its 200-day moving average is $14.51. The firm has a market cap of $1.21 billion, a price-to-earnings ratio of -23.59 and a beta of 0.87.

Corvus Pharmaceuticals (NASDAQ:CRVS) last posted its 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, research analysts forecast that Corvus Pharmaceuticals, Inc. will post -0.79 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CRVS has been the subject of several research analyst reports. Weiss Ratings upgraded Corvus Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, July 28th. Wall Street Zen cut shares of Corvus Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Finally, LADENBURG THALM/SH SH raised shares of Corvus Pharmaceuticals to a “strong-buy” rating in a report on Thursday, July 30th. One 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. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus 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.