Clovis Oncology, Inc. (CLVS) Position Raised by Rhumbline Advisers
Rhumbline Advisers boosted its holdings in shares of Clovis Oncology, Inc. (NASDAQ:CLVS) by 5.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,501 shares of the biopharmaceutical company’s stock after purchasing an additional 2,370 shares during the period. Rhumbline Advisers owned 0.11% of Clovis Oncology worth $4,448,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in CLVS. FMR LLC increased its holdings in Clovis Oncology by 271.4% during the 1st quarter. FMR LLC now owns 1,816,859 shares of the biopharmaceutical company’s stock valued at $115,679,000 after purchasing an additional 1,327,703 shares in the last quarter. Wellington Management Group LLP boosted its position in Clovis Oncology by 10,143.6% in the 1st quarter. Wellington Management Group LLP now owns 1,331,669 shares of the biopharmaceutical company’s stock valued at $84,788,000 after buying an additional 1,318,669 shares during the last quarter. Alliancebernstein L.P. boosted its position in Clovis Oncology by 1,538.0% in the 1st quarter. Alliancebernstein L.P. now owns 754,122 shares of the biopharmaceutical company’s stock valued at $48,015,000 after buying an additional 708,082 shares during the last quarter. Vanguard Group Inc. boosted its position in Clovis Oncology by 25.3% in the 1st quarter. Vanguard Group Inc. now owns 3,285,195 shares of the biopharmaceutical company’s stock valued at $209,169,000 after buying an additional 662,969 shares during the last quarter. Finally, Bogle Investment Management L P DE bought a new position in Clovis Oncology in the 1st quarter valued at $13,762,000. 98.94% of the stock is owned by hedge funds and other institutional investors.
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CLVS has been the topic of a number of recent research reports. J P Morgan Chase & Co upgraded Clovis Oncology from a “neutral” rating to an “overweight” rating and set a $72.00 price objective on the stock in a research report on Wednesday, May 17th. Bank of America Corporation reiterated a “buy” rating and issued a $75.00 price objective on shares of Clovis Oncology in a research report on Wednesday, May 17th. ValuEngine lowered Clovis Oncology from a “hold” rating to a “sell” rating in a research report on Friday, May 19th. Leerink Swann initiated coverage on Clovis Oncology in a research report on Tuesday, June 13th. They issued an “outperform” rating and a $85.00 price objective on the stock. Finally, Credit Suisse Group reiterated an “outperform” rating and issued a $88.00 price objective on shares of Clovis Oncology in a research report on Friday, June 16th. Eight investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $85.16.
Clovis Oncology, Inc. (CLVS) opened at 78.26 on Monday. Clovis Oncology, Inc. has a 52-week low of $22.73 and a 52-week high of $99.45. The company’s market capitalization is $3.83 billion. The stock has a 50 day moving average price of $78.63 and a 200 day moving average price of $68.15.
Clovis Oncology (NASDAQ:CLVS) last posted its quarterly earnings data on Wednesday, August 2nd. The biopharmaceutical company reported ($1.29) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($1.27) by $0.02. The company had revenue of $14.62 million during the quarter, compared to analyst estimates of $13.07 million. The firm’s revenue for the quarter was down 32.5% compared to the same quarter last year. During the same period last year, the firm earned ($2.07) EPS. Analysts anticipate that Clovis Oncology, Inc. will post ($7.53) EPS for the current fiscal year.
In related news, Director James C. Blair sold 18,450 shares of the stock in a transaction on Friday, August 4th. The stock was sold at an average price of $78.61, for a total value of $1,450,354.50. Following the completion of the sale, the director now directly owns 2,185 shares in the company, valued at $171,762.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Gillian C. Ivers-Read sold 3,000 shares of the stock in a transaction on Monday, July 17th. The shares were sold at an average price of $91.56, for a total value of $274,680.00. Following the completion of the sale, the insider now owns 197,583 shares of the company’s stock, valued at $18,090,699.48. The disclosure for this sale can be found here. Insiders sold 27,450 shares of company stock valued at $2,120,645 over the last 90 days. 17.40% of the stock is currently owned by company insiders.
Clovis Oncology 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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