Corvus Pharmaceuticals (NASDAQ:CRVS) Stock: Insider Jeffrey Arcara Acquires 1,003 Shares

Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) insider Jeffrey Arcara bought 1,003 shares of the company’s stock in a transaction on Friday, November 13th. The stock was bought at an average price of $10.54 per share, for a total transaction of $10,571.62. Following the completion of the purchase, the insider owned 4,500 shares of the company’s stock, valued at approximately $47,430. The trade was a 28.68% 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 link.

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

• On Thursday, November 12th, Jeffrey Arcara bought 497 shares of Corvus Pharmaceuticals stock. The shares were bought at an average cost of $11.12 per share, with a total value of $5,526.64.
• On Wednesday, November 11th, Jeffrey Arcara bought 3,000 shares of Corvus Pharmaceuticals stock. The shares were bought at an average cost of $11.46 per share, with a total value of $34,380.00.

Corvus Pharmaceuticals Trading Up 0.2%

Shares of CRVS stock traded up $0.02 during trading hours on Friday, hitting $10.64. 620,431 shares of the company were exchanged, compared to its average volume of 1,017,570. The firm has a fifty day simple moving average of $11.18 and a 200 day simple moving average of $14.04. Corvus Pharmaceuticals, Inc. has a 52-week low of $6.39 and a 52-week high of $26.95. The stock has a market capitalization of $897.52 million, a price-to-earnings 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) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.03). Sell-side analysts anticipate that Corvus Pharmaceuticals, Inc. will post -0.81 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CRVS. Wall Street Zen lowered Corvus Pharmaceuticals from a “sell” rating to a “strong sell” rating in a report on Saturday, November 7th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Corvus Pharmaceuticals in a research note on Monday, October 26th. Ladenburg Thalmann & Co. Inc. raised Corvus Pharmaceuticals to a “strong-buy” rating in a report on Thursday, July 30th. Mizuho set a $27.00 target price on Corvus Pharmaceuticals in a research note on Thursday, October 29th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Corvus Pharmaceuticals in a research note on Wednesday, September 16th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $32.83.

Institutional Trading of Corvus Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of CRVS. Entropy Technologies LP purchased a new stake in Corvus Pharmaceuticals in the 3rd quarter worth approximately $384,000. Jump Financial LLC grew its position in shares of Corvus Pharmaceuticals by 12.3% during the 3rd quarter. Jump Financial LLC now owns 351,859 shares of the company’s stock valued at $4,053,000 after purchasing an additional 38,459 shares in the last quarter. Marshall Wace LLP grew its position in shares of Corvus Pharmaceuticals by 27.8% during the 3rd quarter. Marshall Wace LLP now owns 128,448 shares of the company’s stock valued at $1,480,000 after purchasing an additional 27,974 shares in the last quarter. Voya Investment Management LLC grew its position in shares of Corvus Pharmaceuticals by 59.6% during the 3rd quarter. Voya Investment Management LLC now owns 196,918 shares of the company’s stock valued at $2,268,000 after purchasing an additional 73,539 shares in the last quarter. Finally, ACT Capital Partners L.P. purchased a new position in shares of Corvus Pharmaceuticals during the 3rd quarter valued at $311,000. Institutional investors own 46.64% of the company’s stock.

Top Corvus Pharmaceuticals Stories

Here are a few of the latest stories about CRVS:

• 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

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.