A.R.T. Advisors LLC Has $3,362,000 Position in Clovis Oncology, Inc. (CLVS)
A.R.T. Advisors LLC increased its stake in shares of Clovis Oncology, Inc. (NASDAQ:CLVS) by 124.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 75,700 shares of the biopharmaceutical company’s stock after buying an additional 42,000 shares during the period. A.R.T. Advisors LLC owned about 0.20% of Clovis Oncology worth $3,362,000 at the end of the most recent quarter.
Several other institutional investors also recently added to or reduced their stakes in CLVS. Consonance Capital Management LP increased its position 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 in the last quarter. Rice Hall James & Associates LLC increased its position in Clovis Oncology by 12.3% in the third quarter. Rice Hall James & Associates LLC now owns 106,207 shares of the biopharmaceutical company’s stock valued at $3,829,000 after buying an additional 11,613 shares in the last quarter. Blue Jay Capital Management LLC bought a new position in Clovis Oncology during the third quarter valued at $12,077,000. Boxer Capital LLC bought a new position in Clovis Oncology during the second quarter valued at $6,174,000. Finally, Tocqueville Asset Management L.P. bought a new position in Clovis Oncology during the third quarter valued at $1,532,000. 88.48% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Clovis Oncology, Inc. (NASDAQ:CLVS) traded down 1.63% during midday trading on Thursday, hitting $61.37. The company’s stock had a trading volume of 1,634,896 shares. The firm has a 50-day moving average of $57.05 and a 200 day moving average of $37.08. Clovis Oncology, Inc. has a 12-month low of $11.57 and a 12-month high of $67.16. The firm’s market cap is $2.37 billion.
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CLVS has been the topic of several analyst reports. Bank of America Corporation initiated coverage on Clovis Oncology in a research report on Friday, January 27th. They set a “buy” rating and a $74.00 target price on the stock. Vetr raised Clovis Oncology from a “sell” rating to a “buy” rating and set a $39.27 target price on the stock in a research report on Monday, November 28th. Morgan Stanley began coverage on Clovis Oncology in a report on Friday, January 13th. They set an “overweight” rating and a $68.00 price objective for the company. Piper Jaffray Companies upgraded Clovis Oncology from a “neutral” rating to an “overweight” rating and set a $77.00 price objective for the company in a report on Thursday, January 26th. Finally, Chardan Capital began coverage on Clovis Oncology in a report on Tuesday, October 25th. They set a “sell” rating and a $15.00 price objective for the company. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $55.80.
About Clovis Oncology
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 is developing approximately three product candidates: Rociletinib, Rucaparib and Lucitanib. Rociletinib is an oral epidermal growth factor receptor (EGFR), mutant-selective covalent inhibitor that is under review with the United States and European regulatory authorities for the treatment of non-small cell lung cancer (NSCLC) in patients with activating EGFR mutations, as well as the resistance mutation, T790M.
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