Chicago Equity Partners LLC cut its position in Clovis Oncology, Inc. (NASDAQ:CLVS) by 43.8% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 23,810 shares of the biopharmaceutical company’s stock after selling 18,550 shares during the quarter. Chicago Equity Partners LLC’s holdings in Clovis Oncology were worth $1,962,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of Clovis Oncology by 10.2% in the 2nd quarter. Vanguard Group Inc. now owns 3,618,843 shares of the biopharmaceutical company’s stock valued at $338,831,000 after purchasing an additional 333,648 shares during the period. State Street Corp boosted its position in shares of Clovis Oncology by 4.3% in the 2nd quarter. State Street Corp now owns 1,943,480 shares of the biopharmaceutical company’s stock valued at $181,966,000 after purchasing an additional 80,171 shares during the period. Franklin Resources Inc. boosted its position in shares of Clovis Oncology by 70.3% in the 2nd quarter. Franklin Resources Inc. now owns 1,665,200 shares of the biopharmaceutical company’s stock valued at $155,913,000 after purchasing an additional 687,300 shares during the period. Jennison Associates LLC boosted its position in shares of Clovis Oncology by 222.5% in the 2nd quarter. Jennison Associates LLC now owns 1,185,177 shares of the biopharmaceutical company’s stock valued at $110,968,000 after purchasing an additional 817,677 shares during the period. Finally, Alliancebernstein L.P. boosted its position in shares of Clovis Oncology by 27.1% in the 2nd quarter. Alliancebernstein L.P. now owns 958,721 shares of the biopharmaceutical company’s stock valued at $89,765,000 after purchasing an additional 204,599 shares during the period. 98.53% of the stock is owned by hedge funds and other institutional investors.
A number of analysts recently issued reports on the company. Cann reissued a “hold” rating on shares of Clovis Oncology in a research report on Monday, July 31st. J P Morgan Chase & Co reaffirmed an “overweight” rating on shares of Clovis Oncology in a research report on Tuesday, August 1st. Zacks Investment Research raised Clovis Oncology from a “hold” rating to a “buy” rating and set a $95.00 price objective for the company in a research report on Tuesday, October 17th. Vetr raised Clovis Oncology from a “hold” rating to a “buy” rating and set a $87.50 price objective for the company in a research report on Wednesday, July 19th. Finally, Credit Suisse Group set a $107.00 price objective on Clovis Oncology and gave the stock a “buy” rating in a research report on Tuesday, July 18th. Eight investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $87.15.
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Clovis Oncology, Inc. (NASDAQ:CLVS) opened at $66.95 on Monday. Clovis Oncology, Inc. has a one year low of $31.64 and a one year high of $99.45. The company has a debt-to-equity ratio of 0.94, a quick ratio of 3.16 and a current ratio of 3.19.
Clovis Oncology (NASDAQ:CLVS) last issued its earnings results on Wednesday, November 1st. The biopharmaceutical company reported ($1.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.18) by ($0.06). The business had revenue of $16.81 million for the quarter, compared to analysts’ expectations of $21.12 million. Clovis Oncology had a negative return on equity of 122.06% and a negative net margin of 947.47%. During the same period last year, the company posted ($1.70) earnings per share. equities research analysts predict that Clovis Oncology, Inc. will post -7.31 earnings per share for the current fiscal year.
In related news, insider Gillian C. Ivers-Read sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $69.50, for a total value of $208,500.00. Following the completion of the transaction, the insider now directly owns 191,583 shares of the company’s stock, valued at approximately $13,315,018.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last three months, insiders have sold 9,000 shares of company stock valued at $672,270. Company insiders own 12.50% of the company’s stock.
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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