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The recent 12% drop in Corvus Pharmaceuticals, Inc.'s (NASDAQ:CRVS) stock could come as a blow to insiders who purchased US$469k worth of stock at an average buy price of US$3.22 over the past 12 months. Insiders buy with the expectation to see their investments rise in value over a period of time. However, recent losses have rendered their above investment worth US$351k which is not ideal.
Although we don't think shareholders should simply follow insider transactions, logic dictates you should pay some attention to whether insiders are buying or selling shares.
View our latest analysis for Corvus Pharmaceuticals
The Last 12 Months Of Insider Transactions At Corvus Pharmaceuticals
In the last twelve months, the biggest single purchase by an insider was when Co-Founder Richard Miller bought US$350k worth of shares at a price of US$3.50 per share. So it's clear an insider wanted to buy, even at a higher price than the current share price (being US$2.41). While their view may have changed since the purchase was made, this does at least suggest they have had confidence in the company's future. We always take careful note of the price insiders pay when purchasing shares. It is encouraging to see an insider paid above the current price for shares, as it suggests they saw value, even at higher levels. Richard Miller was the only individual insider to buy shares in the last twelve months.
Richard Miller purchased 145.71k shares over the year. The average price per share was US$3.22. You can see a visual depiction of insider transactions (by companies and individuals) over the last 12 months, below. If you click on the chart, you can see all the individual transactions, including the share price, individual, and the date!
Corvus Pharmaceuticals is not the only stock insiders are buying. So take a peek at this free list of growing companies with insider buying.
Does Corvus Pharmaceuticals Boast High Insider Ownership?
Many investors like to check how much of a company is owned by insiders. A high insider ownership often makes company leadership more mindful of shareholder interests. From looking at our data, insiders own US$3.9m worth of Corvus Pharmaceuticals stock, about 3.5% of the company. We prefer to see high levels of insider ownership.
So What Does This Data Suggest About Corvus Pharmaceuticals Insiders?
It doesn't really mean much that no insider has traded Corvus Pharmaceuticals shares in the last quarter. However, our analysis of transactions over the last year is heartening. The transactions are fine but it'd be more encouraging if Corvus Pharmaceuticals insiders bought more shares in the company. In addition to knowing about insider transactions going on, it's beneficial to identify the risks facing Corvus Pharmaceuticals. For instance, we've identified 5 warning signs for Corvus Pharmaceuticals (3 are significant) you should be aware of.