Key Points
- Insider Jeffrey Arcara bought 3,000 Corvus Pharmaceuticals shares at an average $11.46 each, a $34,380 purchase; he also bought 1,500 additional shares in two nearby transactions.
- Corvus reported a quarterly loss of $0.22 per share, missing analyst expectations of a $0.19 loss. Shares traded at $10.64, below their 50-day and 200-day moving averages.
- Analyst views are mixed, but MarketBeat reports an overall “Moderate Buy” rating and an average price target of $32.83.
Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS - Get Free Report) insider Jeffrey Arcara purchased 1,003 shares of the company's stock in a transaction dated Friday, November 13th. The stock was purchased at an average price of $10.54 per share, for a total transaction of $10,571.62. Following the completion of the purchase, the insider owned 4,500 shares in the company, valued at approximately $47,430. The trade was a 28.68% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.
Jeffrey Arcara also recently made the following trade(s):
- On Thursday, November 12th, Jeffrey Arcara acquired 497 shares of Corvus Pharmaceuticals stock. The stock was purchased at an average cost of $11.12 per share, with a total value of $5,526.64.
- On Wednesday, November 11th, Jeffrey Arcara bought 3,000 shares of Corvus Pharmaceuticals stock. The stock was purchased at an average cost of $11.46 per share, for a total transaction of $34,380.00.
Corvus Pharmaceuticals Stock Up 0.2%
NASDAQ:CRVS traded up $0.02 on Friday, hitting $10.64. The stock had a trading volume of 620,431 shares, compared to its average volume of 1,017,570. The stock has a market cap of $897.52 million, a price-to-earnings ratio of -14.99 and a beta of 1.57. The business's 50-day simple moving average is $11.18 and its two-hundred day simple moving average is $14.04. Corvus Pharmaceuticals, Inc. has a 52-week low of $6.39 and a 52-week high of $26.95.
Corvus Pharmaceuticals (NASDAQ:CRVS - Get Free Report) last released its quarterly earnings results on Thursday, November 5th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.03). As a group, equities research analysts anticipate that Corvus Pharmaceuticals, Inc. will post -0.81 EPS for the current year.
Corvus Pharmaceuticals News Summary
Here's some of the latest news about CRVS:
- Positive Sentiment: A Globe and Mail headline includes Corvus among healthcare stocks analysts are bullish on, though the article details provided do not specify a rating or price target. Analysts Are Bullish on Top Healthcare Stocks: Corvus Pharmaceuticals (CRVS), Achieve Life Sciences (QUIT)
- Negative Sentiment: HC Wainwright cut estimates across multiple periods. It now expects a $1.04-per-share loss in 2027, versus its prior $0.80 loss estimate, and a $0.90 loss in 2028, versus $0.37 previously. It also reduced its 2029 forecast from near breakeven to a $0.43 loss and lowered its 2030 profit estimate to $0.45 from $0.67. The revisions suggest a slower improvement in earnings and could weigh on investor sentiment. HC Wainwright earnings estimate updates
Wall Street Analysts Forecast Growth
Several brokerages recently issued reports on CRVS. Weiss Ratings restated a "sell (d-)" rating on shares of Corvus Pharmaceuticals in a research report on Monday, October 26th. Ladenburg Thalmann & Co. Inc. upgraded shares of Corvus Pharmaceuticals to a "strong-buy" rating in a research note on Thursday, July 30th. Cantor Fitzgerald reissued an "overweight" rating on shares of Corvus Pharmaceuticals in a research report on Wednesday, September 16th. Mizuho set a $27.00 price objective on shares of Corvus Pharmaceuticals in a research report on Thursday, October 29th. Finally, Wall Street Zen lowered Corvus Pharmaceuticals from a "sell" rating to a "strong sell" rating in a research note on Saturday, November 7th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $32.83.
View Our Latest Research Report on Corvus Pharmaceuticals
Institutional Investors Weigh In On Corvus Pharmaceuticals
Several hedge funds and other institutional investors have recently added to or reduced their stakes in CRVS. BlackRock Inc. bought a new stake in Corvus Pharmaceuticals during the 2nd quarter worth approximately $106,654,000. Vivo Capital LLC lifted its holdings in Corvus Pharmaceuticals by 25.6% during the first quarter. Vivo Capital LLC now owns 2,805,816 shares of the company's stock valued at $41,049,000 after purchasing an additional 571,250 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Corvus Pharmaceuticals by 17.8% in the second quarter. Wellington Management Group LLP now owns 2,731,632 shares of the company's stock worth $40,811,000 after purchasing an additional 413,115 shares during the period. Perceptive Advisors LLC boosted its position in shares of Corvus Pharmaceuticals by 231.1% in the first quarter. Perceptive Advisors LLC now owns 2,292,441 shares of the company's stock worth $33,538,000 after purchasing an additional 1,600,000 shares during the period. Finally, Commodore Capital LP purchased a new stake in shares of Corvus Pharmaceuticals in the first quarter worth $33,045,000. 46.64% of the stock is owned by hedge funds and other institutional investors.
About Corvus Pharmaceuticals
(
Get Free Report)
Corvus Pharmaceuticals is a clinical-stage biopharmaceutical company focused on developing medicines that target the immune system to treat cancer and immune-related diseases. The company is based in Burlingame, California, and its work centers on therapies in clinical development rather than marketed products. Its lead candidate, soquelitinib (also known as CPI-818), is an oral inhibitor of interleukin-2-inducible T-cell kinase, or ITK. Corvus is developing the drug for T-cell lymphoma and has also explored its potential in inflammatory and autoimmune conditions, including atopic dermatitis.
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