Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) major shareholder Holdings A/S Novo purchased 20,000 shares of the business’s stock in a transaction dated Friday, June 23rd. The stock was bought at an average cost of $10.95 per share, with a total value of $219,000.00. Following the completion of the acquisition, the insider now owns 3,244,046 shares of the company’s stock, valued at $35,522,303.70. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.
Shares of Corvus Pharmaceuticals, Inc. (CRVS) traded up 0.49% on Monday, reaching $12.23. The company had a trading volume of 16,024 shares. The company has a 50-day moving average price of $10.89 and a 200-day moving average price of $13.38. The firm’s market capitalization is $256.02 million. Corvus Pharmaceuticals, Inc. has a 52-week low of $8.27 and a 52-week high of $22.14.
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CRVS has been the subject of several analyst reports. Cantor Fitzgerald reiterated a “buy” rating and issued a $25.00 target price on shares of Corvus Pharmaceuticals in a research note on Wednesday, April 5th. Cowen and Company restated a “buy” rating on shares of Corvus Pharmaceuticals in a research note on Tuesday, May 2nd. Credit Suisse Group downgraded Corvus Pharmaceuticals from a “neutral” rating to an “underperform” rating and set a $10.00 target price for the company. in a research report on Monday, May 1st. Finally, Zacks Investment Research downgraded Corvus Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Tuesday, May 23rd.
Several institutional investors have recently added to or reduced their stakes in the stock. TIAA CREF Investment Management LLC increased its position in Corvus Pharmaceuticals by 43.3% in the first quarter. TIAA CREF Investment Management LLC now owns 7,181 shares of the company’s stock valued at $149,000 after buying an additional 2,170 shares during the last quarter. Endurant Capital Management LP acquired a new position in Corvus Pharmaceuticals during the first quarter valued at about $282,000. Oxford Asset Management acquired a new position in Corvus Pharmaceuticals during the first quarter valued at about $287,000. Ladenburg Thalmann Financial Services Inc. increased its position in Corvus Pharmaceuticals by 62.4% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 15,350 shares of the company’s stock valued at $220,000 after buying an additional 5,900 shares during the last quarter. Finally, Bank of New York Mellon Corp acquired a new position in Corvus Pharmaceuticals during the first quarter valued at about $331,000. 82.86% of the stock is owned by hedge funds and other institutional investors.
Corvus Pharmaceuticals Company Profile
Corvus Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company. The Company is focused on the development and commercialization of immuno-oncology therapies. The Company is developing drugs and antibodies that block crucial immune checkpoints and reprogram immune T-cells. The Company has a pipeline of four immuno-oncology programs, three of which focus on the adenosine-cancer axis to modulate an immune response.
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