Wellington Management Group LLP increased its position in shares of Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS – Free Report) by 17.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,731,632 shares of the company’s stock after purchasing an additional 413,115 shares during the period. Wellington Management Group LLP owned approximately 3.25% of Corvus Pharmaceuticals worth $40,811,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Quarry LP acquired a new stake in Corvus Pharmaceuticals during the third quarter worth approximately $27,000. Global Retirement Partners LLC bought a new position in Corvus Pharmaceuticals in the 2nd quarter valued at about $30,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in Corvus Pharmaceuticals in the 2nd quarter valued at about $48,000. Russell Investments Group Ltd. acquired a new position in shares of Corvus Pharmaceuticals in the 3rd quarter valued at approximately $49,000. Finally, Sender Co & Partners Inc. acquired a new position in shares of Corvus Pharmaceuticals in the 2nd quarter valued at approximately $52,000. Institutional investors and hedge funds own 46.64% of the company’s stock.
Insider Buying and Selling
In other Corvus Pharmaceuticals news, Director David Moore purchased 21,700 shares of the firm’s stock in a transaction on Thursday, June 11th. The stock was purchased at an average cost of $11.53 per share, for a total transaction of $250,201.00. Following the transaction, the director owned 21,700 shares in the company, valued at $250,201. The trade was a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 19.70% of the stock is currently owned by corporate insiders.
Corvus Pharmaceuticals Stock Performance
Corvus Pharmaceuticals (NASDAQ:CRVS – Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.19) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.03). As a group, sell-side analysts predict that Corvus Pharmaceuticals, Inc. will post -0.79 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
Several analysts recently issued reports on the stock. Weiss Ratings upgraded shares of Corvus Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, July 28th. LADENBURG THALM/SH SH upgraded Corvus Pharmaceuticals to a “strong-buy” rating in a research note on Thursday, July 30th. 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 given a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $33.33.
Read Our Latest Research Report on CRVS
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.
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