Emerald Mutual Fund Advisers Trust Invests $6.72 Million in Corvus Pharmaceuticals, Inc. $CRVS

Emerald Mutual Fund Advisers Trust purchased a new stake in shares of Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 459,253 shares of the company’s stock, valued at approximately $6,719,000. Emerald Mutual Fund Advisers Trust owned approximately 0.55% of Corvus Pharmaceuticals at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of CRVS. Orbimed Advisors LLC lifted its holdings in Corvus Pharmaceuticals by 3.2% in the 2nd quarter. Orbimed Advisors LLC now owns 7,165,006 shares of the company’s stock worth $28,660,000 after purchasing an additional 221,352 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Corvus Pharmaceuticals by 5.8% in the third quarter. Vanguard Group Inc. now owns 3,471,925 shares of the company’s stock valued at $25,588,000 after purchasing an additional 191,216 shares during the period. State Street Corp raised its position in shares of Corvus Pharmaceuticals by 177.1% in the fourth quarter. State Street Corp now owns 2,788,223 shares of the company’s stock valued at $21,469,000 after purchasing an additional 1,781,904 shares during the period. MPM Bioimpact LLC acquired a new stake in shares of Corvus Pharmaceuticals in the fourth quarter worth $21,126,000. Finally, Geode Capital Management LLC lifted its stake in shares of Corvus Pharmaceuticals by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 1,473,026 shares of the company’s stock worth $11,345,000 after buying an additional 16,498 shares during the last quarter. Institutional investors and hedge funds own 46.64% of the company’s stock.

Corvus Pharmaceuticals Price Performance

Shares of Corvus Pharmaceuticals stock opened at $14.71 on Tuesday. Corvus Pharmaceuticals, Inc. has a fifty-two week low of $3.96 and a fifty-two week high of $26.95. The firm has a fifty day moving average price of $13.34 and a two-hundred day moving average price of $14.51. 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 posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.01). Analysts expect that Corvus Pharmaceuticals, Inc. will post -0.7 earnings per share for the current fiscal year.

Insider Buying and Selling at Corvus Pharmaceuticals

In other news, Director David Scott Moore bought 21,700 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The shares were acquired at an average cost 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 document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 19.70% of the company’s stock.

Wall Street Analysts Forecast Growth

CRVS has been the topic of a number of research analyst reports. The Goldman Sachs Group assumed coverage on shares of Corvus Pharmaceuticals in a research note on Friday, April 17th. They issued a “buy” rating and a $40.00 target price on the stock. Wall Street Zen downgraded Corvus Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Finally, Weiss Ratings downgraded Corvus Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday. Six analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus 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.