Corvus Pharmaceuticals (NASDAQ:CRVS) Posts Quarterly Earnings Results, Misses Expectations By $0.03 EPS

Corvus Pharmaceuticals (NASDAQ:CRVS) released its earnings results on Thursday. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.03), FiscalAI reports.

Here are the key takeaways from Corvus Pharmaceuticals’ conference call:

• Cash runway extended into Q2 2028 following $189.4 million in net proceeds from a first-quarter follow-on offering; Corvus ended June with $215.2 million in cash, equivalents and marketable securities.
• Soquelitinib’s atopic dermatitis Phase I results showed encouraging activity, with 75% of patients receiving the highest dose achieving EASI-75 versus 20% for placebo, alongside signals of deeper and durable responses and no major safety concerns.
• The Phase II SIERRA-1 atopic dermatitis study is enrolling as planned, with approximately 200 patients, enrollment completion expected in early 2027 and topline data targeted for Q3 2027. Corvus is also expecting data from partner Angel Pharmaceuticals’ first cohort by year-end 2026 and second-cohort data in Q2 2027.
• Corvus plans to broaden the pipeline by initiating Phase II asthma and Phase Ib hidradenitis suppurativa studies before year-end, testing soquelitinib across both T2 and non-T2 asthma populations and evaluating biomarkers associated with TH17-driven disease.
• The Phase III relapsed/refractory peripheral T-cell lymphoma trial remains on track, with an independent interim futility analysis now expected in Q1 2027 and final data still projected for late 2027; the interim analysis will not disclose efficacy or safety results publicly.

Corvus Pharmaceuticals Trading Up 0.4%

Shares of NASDAQ:CRVS traded up $0.06 during trading on Friday, reaching $13.92. The company’s stock had a trading volume of 1,370,050 shares, compared to its average volume of 879,824. The stock has a market capitalization of $1.17 billion, a PE ratio of -22.82 and a beta of 0.87. Corvus Pharmaceuticals has a 12 month low of $4.12 and a 12 month high of $26.95. The firm’s 50 day simple moving average is $13.41 and its two-hundred day simple moving average is $15.34.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on CRVS shares. LADENBURG THALM/SH SH upgraded Corvus Pharmaceuticals to a “strong-buy” rating in a research report on Thursday, July 30th. Wall Street Zen downgraded Corvus Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Weiss Ratings upgraded Corvus Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, July 28th. Finally, The Goldman Sachs Group initiated coverage on shares of Corvus Pharmaceuticals in a report on Friday, April 17th. They issued a “buy” rating and a $40.00 target price for the company. 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.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $33.33.

Insiders Place Their Bets

In related news, Director David Scott Moore acquired 21,700 shares of the firm’s stock in a transaction on Thursday, June 11th. The shares were acquired at an average cost of $11.53 per share, for a total transaction of $250,201.00. Following the completion of the transaction, the director directly owned 21,700 shares in the company, valued at approximately $250,201. This trade represents a ? increase in their position. The transaction 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 insiders.

Hedge Funds Weigh In On Corvus Pharmaceuticals

Institutional investors and hedge funds have recently modified their holdings of the stock. Quarry LP bought a new position in shares of Corvus Pharmaceuticals during the 3rd quarter valued at approximately $27,000. Russell Investments Group Ltd. bought a new stake in Corvus Pharmaceuticals in the third quarter worth $49,000. Truvestments Capital LLC boosted its stake in Corvus Pharmaceuticals by 86.1% during the fourth quarter. Truvestments Capital LLC now owns 10,257 shares of the company’s stock worth $79,000 after buying an additional 4,744 shares during the period. Captrust Financial Advisors bought a new position in Corvus Pharmaceuticals during the fourth quarter valued at $85,000. Finally, Fox Run Management L.L.C. bought a new position in Corvus Pharmaceuticals during the fourth quarter valued at $86,000. Hedge funds and other institutional investors own 46.64% of the company’s stock.

Corvus Pharmaceuticals Company 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.