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

Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) insider Jeffrey Arcara acquired 3,000 shares of the stock in a transaction dated Wednesday, November 11th. The shares were bought at an average cost of $11.46 per share, for a total transaction of $34,380.00. Following the completion of the transaction, the insider owned 3,000 shares in the company, valued at approximately $34,380. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website.

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

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

Corvus Pharmaceuticals Trading Up 0.2%

Corvus Pharmaceuticals stock traded up $0.02 during midday trading on Friday, hitting $10.64. The stock had a trading volume of 620,431 shares, compared to its average volume of 1,017,570. Corvus Pharmaceuticals, Inc. has a 52-week low of $6.39 and a 52-week high of $26.95. The company has a market capitalization of $897.52 million, a PE ratio of -14.99 and a beta of 1.57. The firm’s fifty day moving average is $11.18 and its two-hundred day moving average is $14.04.

Corvus Pharmaceuticals (NASDAQ:CRVS) last issued its quarterly earnings results on Thursday, November 5th. The company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.03). As a group, equities research analysts predict that Corvus Pharmaceuticals, Inc. will post -0.81 earnings per share for the current fiscal year.

Institutional Trading of Corvus Pharmaceuticals

Hedge funds have recently bought and sold shares of the stock. Entropy Technologies LP purchased a new stake in Corvus Pharmaceuticals in the 3rd quarter worth $384,000. Jump Financial LLC grew its position in shares of Corvus Pharmaceuticals by 12.3% during the third 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 third 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 third 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. bought a new stake in shares of Corvus Pharmaceuticals in the third quarter worth about $311,000. Hedge funds and other institutional investors own 46.64% of the company’s stock.

Key Stories Impacting Corvus Pharmaceuticals

These are some of the CRVS stories 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

Analyst Ratings Changes

CRVS has been the topic of a number of analyst reports. Cantor Fitzgerald restated an “overweight” rating on shares of Corvus Pharmaceuticals in a research note on Wednesday, September 16th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Corvus Pharmaceuticals in a research note on Monday, October 26th. Mizuho set a $27.00 price target on Corvus Pharmaceuticals in a report on Thursday, October 29th. Ladenburg Thalmann & Co. Inc. upgraded Corvus Pharmaceuticals to a “strong-buy” rating in a research report on Thursday, July 30th. Finally, Wall Street Zen downgraded Corvus Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Saturday, November 7th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently 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.