Corvus Pharmaceuticals (NASDAQ:CRVS) Insider Jeffrey Arcara Buys 3,000 Shares of Company Stock

Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) insider Jeffrey Arcara bought 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 11th. The shares were purchased at an average cost of $11.46 per share, with a total value of $34,380.00. Following the acquisition, the insider directly owned 3,000 shares of the company’s stock, valued at approximately $34,380. This trade represents a ? increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Jeffrey Arcara also recently made the following trade(s):

• On Friday, November 13th, Jeffrey Arcara bought 1,003 shares of Corvus Pharmaceuticals stock. The stock was purchased at an average price of $10.54 per share, for a total transaction of $10,571.62.
• On Thursday, November 12th, Jeffrey Arcara bought 497 shares of Corvus Pharmaceuticals stock. The stock was purchased at an average price of $11.12 per share, for a total transaction of $5,526.64.

Corvus Pharmaceuticals Price Performance

NASDAQ:CRVS traded up $0.02 during midday trading on Friday, hitting $10.64. The company’s stock had a trading volume of 620,431 shares, compared to its average volume of 1,837,983. Corvus Pharmaceuticals, Inc. has a fifty-two week low of $6.39 and a fifty-two week high of $26.95. The firm’s 50 day moving average is $11.26 and its 200-day moving average is $14.10. The firm has a market cap of $897.48 million, a P/E ratio of -14.99 and a beta of 1.57.

Corvus Pharmaceuticals (NASDAQ:CRVS) last posted 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, analysts forecast that Corvus Pharmaceuticals, Inc. will post -0.80 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CRVS. Ancora Advisors LLC raised its position in shares of Corvus Pharmaceuticals by 3.6% in the second quarter. Ancora Advisors LLC now owns 56,723 shares of the company’s stock worth $847,000 after acquiring an additional 1,955 shares during the period. Global Retirement Partners LLC purchased a new stake in shares of Corvus Pharmaceuticals during the 2nd quarter worth about $30,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Corvus Pharmaceuticals during the 2nd quarter worth about $48,000. Avity Investment Management Inc. grew its position in shares of Corvus Pharmaceuticals by 11.9% during the 2nd quarter. Avity Investment Management Inc. now owns 37,150 shares of the company’s stock valued at $555,000 after acquiring an additional 3,950 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Corvus Pharmaceuticals during the 3rd quarter valued at about $50,000. Hedge funds and other institutional investors own 46.64% of the company’s stock.

Key Corvus Pharmaceuticals News

These are some of the CRVS news items that stood out recently:

• 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 Analyst Weigh In

CRVS has been the subject of several recent research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Corvus Pharmaceuticals in a report on Monday, October 26th. Cantor Fitzgerald restated an “overweight” rating on shares of Corvus Pharmaceuticals in a research report on Wednesday, September 16th. Ladenburg Thalmann & Co. Inc. raised shares of Corvus Pharmaceuticals to a “strong-buy” rating in a report on Thursday, July 30th. Wall Street Zen downgraded Corvus Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Saturday, November 7th. Finally, Mizuho set a $27.00 price target on Corvus Pharmaceuticals in a research report on Thursday, October 29th. 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. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.83.

About Corvus Pharmaceuticals

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.