Corvus Pharmaceuticals (NASDAQ:CRVS) Announces Earnings Results, Misses Expectations By $0.03 EPS

Corvus Pharmaceuticals (NASDAQ:CRVS) issued its earnings results on Thursday. The company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.03), FiscalAI reports.

Here are the key takeaways from Corvus Pharmaceuticals’ conference call:

• Cash runway extended into Q2 2028 following $189.4 million in net proceeds from a first-quarter follow-on offering; Corvus ended June with $215.2 million in cash, equivalents and marketable securities.
• Soquelitinib’s atopic dermatitis Phase I results showed encouraging activity, with 75% of patients receiving the highest dose achieving EASI-75 versus 20% for placebo, alongside signals of deeper and durable responses and no major safety concerns.
• The Phase II SIERRA-1 atopic dermatitis study is enrolling as planned, with approximately 200 patients, enrollment completion expected in early 2027 and topline data targeted for Q3 2027. Corvus is also expecting data from partner Angel Pharmaceuticals’ first cohort by year-end 2026 and second-cohort data in Q2 2027.
• Corvus plans to broaden the pipeline by initiating Phase II asthma and Phase Ib hidradenitis suppurativa studies before year-end, testing soquelitinib across both T2 and non-T2 asthma populations and evaluating biomarkers associated with TH17-driven disease.
• The Phase III relapsed/refractory peripheral T-cell lymphoma trial remains on track, with an independent interim futility analysis now expected in Q1 2027 and final data still projected for late 2027; the interim analysis will not disclose efficacy or safety results publicly.

Corvus Pharmaceuticals Trading Up 0.4%

CRVS stock traded up $0.06 during midday trading on Friday, hitting $13.92. The stock had a trading volume of 1,370,050 shares, compared to its average volume of 879,824. The firm has a market cap of $1.17 billion, a P/E ratio of -22.82 and a beta of 0.87. The business has a fifty day moving average price of $13.41 and a two-hundred day moving average price of $15.34. Corvus Pharmaceuticals has a 1-year low of $4.12 and a 1-year high of $26.95.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CRVS. Wall Street Zen cut Corvus Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. The Goldman Sachs Group initiated coverage on shares of Corvus Pharmaceuticals in a research report on Friday, April 17th. They set a “buy” rating and a $40.00 target price on the stock. LADENBURG THALM/SH SH raised shares of Corvus Pharmaceuticals to a “strong-buy” rating in a report on Thursday, July 30th. Finally, Weiss Ratings raised shares of Corvus Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $33.33.

Insiders Place Their Bets

In other Corvus Pharmaceuticals news, Director David Scott Moore acquired 21,700 shares of the stock in a transaction dated Thursday, June 11th. The stock was purchased at an average cost of $11.53 per share, with a total value of $250,201.00. Following the transaction, the director owned 21,700 shares in the company, valued at approximately $250,201. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 19.70% of the company’s stock.

Hedge Funds Weigh In On Corvus Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the business. Quarry LP bought a new stake in shares of Corvus Pharmaceuticals in the 3rd quarter valued at $27,000. Russell Investments Group Ltd. bought a new position in shares of Corvus Pharmaceuticals during the 3rd quarter worth about $49,000. Sender Co & Partners Inc. bought a new position in shares of Corvus Pharmaceuticals during the 2nd quarter worth about $52,000. Bayesian Capital Management LP acquired a new stake in shares of Corvus Pharmaceuticals in the 2nd quarter valued at about $70,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in shares of Corvus Pharmaceuticals in the 2nd quarter valued at about $76,000. 46.64% of the stock is owned by institutional investors and hedge funds.

Corvus Pharmaceuticals Company Profile

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.