Conservest Capital Advisors Inc. purchased a new stake in shares of Clovis Oncology Inc (NASDAQ:CLVS) during the first quarter, Holdings Channel reports. The institutional investor purchased 3,697 shares of the biopharmaceutical company’s stock, valued at approximately $235,000.
A number of other hedge funds have also bought and sold shares of the stock. State Street Corp increased its stake in Clovis Oncology by 93.7% in the fourth quarter. State Street Corp now owns 2,141,663 shares of the biopharmaceutical company’s stock valued at $95,131,000 after buying an additional 1,035,917 shares during the last quarter. Consonance Capital Management LP increased its stake in Clovis Oncology by 20.3% in the third quarter. Consonance Capital Management LP now owns 3,531,487 shares of the biopharmaceutical company’s stock valued at $127,310,000 after buying an additional 595,000 shares during the last quarter. Norges Bank acquired a new stake in Clovis Oncology during the fourth quarter valued at about $13,155,000. Teachers Advisors LLC increased its stake in Clovis Oncology by 153.9% in the fourth quarter. Teachers Advisors LLC now owns 420,512 shares of the biopharmaceutical company’s stock valued at $18,679,000 after buying an additional 254,898 shares during the last quarter. Finally, Iguana Healthcare Management LLC increased its stake in Clovis Oncology by 261.1% in the third quarter. Iguana Healthcare Management LLC now owns 325,000 shares of the biopharmaceutical company’s stock valued at $11,716,000 after buying an additional 235,000 shares during the last quarter. 88.48% of the stock is owned by institutional investors and hedge funds.
Clovis Oncology Inc (NASDAQ:CLVS) traded down 4.37% during midday trading on Friday, hitting $52.24. The stock had a trading volume of 1,947,522 shares. The firm’s market cap is $2.34 billion. Clovis Oncology Inc has a 52 week low of $11.57 and a 52 week high of $74.94. The firm has a 50 day moving average of $54.41 and a 200 day moving average of $51.75.
Clovis Oncology (NASDAQ:CLVS) last released its earnings results on Wednesday, May 3rd. The biopharmaceutical company reported ($1.33) EPS for the quarter, topping analysts’ consensus estimates of ($1.43) by $0.10. The company had revenue of $7.05 million during the quarter, compared to analysts’ expectations of $6.04 million. Equities research analysts predict that Clovis Oncology Inc will post ($4.95) EPS for the current year.
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Several equities analysts have weighed in on the company. Chardan Capital restated a “sell” rating and set a $36.00 price objective on shares of Clovis Oncology in a research note on Thursday, March 16th. JPMorgan Chase & Co. restated a “hold” rating on shares of Clovis Oncology in a research note on Wednesday, March 15th. Credit Suisse Group AG restated an “outperform” rating and set a $74.00 price objective on shares of Clovis Oncology in a research note on Tuesday, April 18th. Piper Jaffray Companies set a $77.00 price objective on Clovis Oncology and gave the company a “buy” rating in a research note on Tuesday, March 28th. Finally, Morgan Stanley restated an “overweight” rating and set a $79.00 price objective on shares of Clovis Oncology in a research note on Tuesday, May 2nd. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Clovis Oncology has an average rating of “Hold” and an average target price of $60.79.
In other news, insider Gillian C. Ivers-Read sold 3,000 shares of the stock in a transaction on Monday, May 15th. The stock was sold at an average price of $47.39, for a total value of $142,170.00. Following the sale, the insider now directly owns 203,583 shares of the company’s stock, valued at $9,647,798.37. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Over the last three months, insiders sold 9,000 shares of company stock worth $511,200. Insiders own 17.40% of the company’s stock.
Clovis Oncology Company Profile
Clovis Oncology, Inc is a biopharmaceutical company focused on acquiring, developing and commercializing anti-cancer agents in the United States, Europe and other international markets. The Company’s product candidates include Rociletinib, Rubraca (Rucaparib) and Lucitanib. Rucaparib is an oral, small molecule poly adenosine diphosphate (ADP)-ribose polymerase (PARP) inhibitor of PARP1, PARP2 and PARP3 approved as a monotherapy for the treatment of patients with deleterious breast cancer (BRCA) (human genes associated with the repair of damaged deoxyribonucleic acid (DNA)) mutation (germline and/or somatic) associated advanced ovarian cancer.
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