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

Emerald Mutual Fund Advisers Trust bought a new stake in Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) in the first quarter, Holdings Channel reports. The institutional investor bought 459,253 shares of the company’s stock, valued at approximately $6,719,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Geode Capital Management LLC boosted its stake in Corvus Pharmaceuticals by 130.7% during the second quarter. Geode Capital Management LLC now owns 1,361,740 shares of the company’s stock worth $5,448,000 after buying an additional 771,454 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Corvus Pharmaceuticals by 541.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 30,420 shares of the company’s stock valued at $122,000 after buying an additional 25,681 shares in the last quarter. Rhumbline Advisers raised its stake in shares of Corvus Pharmaceuticals by 9,501.8% in the 2nd quarter. Rhumbline Advisers now owns 75,950 shares of the company’s stock valued at $304,000 after buying an additional 75,159 shares in the last quarter. Hsbc Holdings PLC acquired a new position in shares of Corvus Pharmaceuticals in the 2nd quarter valued at $332,000. Finally, New York State Common Retirement Fund bought a new position in shares of Corvus Pharmaceuticals during the 2nd quarter worth about $95,000. 46.64% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

CRVS has been the topic of several recent research reports. Wall Street Zen lowered shares of Corvus Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Weiss Ratings lowered shares of Corvus Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday. Finally, The Goldman Sachs Group began coverage on shares of Corvus Pharmaceuticals in a research note on Friday, April 17th. They set a “buy” rating and a $40.00 price target for the company. Six investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Corvus Pharmaceuticals currently has an average rating of “Moderate Buy” and an average target price of $33.33.

Insiders Place Their Bets

In other news, Director David Scott Moore acquired 21,700 shares of the company’s stock in a transaction dated Thursday, June 11th. The stock was bought at an average price of $11.53 per share, with a total value of $250,201.00. Following the completion of the acquisition, the director owned 21,700 shares in the company, valued at approximately $250,201. This represents a ? increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 19.70% of the company’s stock.

Corvus Pharmaceuticals Stock Performance

CRVS opened at $14.71 on Tuesday. The firm’s 50-day simple moving average is $13.34 and its 200-day simple moving average is $14.51. Corvus Pharmaceuticals, Inc. has a twelve month low of $3.96 and a twelve month high of $26.95. The firm has a market cap of $1.24 billion, a price-to-earnings ratio of -28.29 and a beta of 0.82.

Corvus Pharmaceuticals (NASDAQ:CRVS) last announced its earnings results on Thursday, May 7th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.01). As a group, sell-side analysts anticipate that Corvus Pharmaceuticals, Inc. will post -0.7 EPS for the current fiscal year.

About Corvus Pharmaceuticals

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.