Clovis Oncology, Inc. (NASDAQ:CLVS) Shares Sold by Versant Venture Management LLC
Versant Venture Management LLC reduced its stake in shares of Clovis Oncology, Inc. (NASDAQ:CLVS) by 75.0% during the second quarter, Holdings Channel reports. The institutional investor owned 101,855 shares of the biopharmaceutical company’s stock after selling 305,561 shares during the period. Clovis Oncology comprises about 7.5% of Versant Venture Management LLC’s holdings, making the stock its 5th largest position. Versant Venture Management LLC’s holdings in Clovis Oncology were worth $9,543,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in the stock. First Mercantile Trust Co. bought a new stake in shares of Clovis Oncology during the first quarter valued at approximately $115,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Clovis Oncology by 71.4% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,819 shares of the biopharmaceutical company’s stock valued at $116,000 after buying an additional 758 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Clovis Oncology by 3.7% in the first quarter. PNC Financial Services Group Inc. now owns 2,800 shares of the biopharmaceutical company’s stock valued at $179,000 after buying an additional 100 shares in the last quarter. Quantbot Technologies LP bought a new stake in shares of Clovis Oncology during the first quarter valued at approximately $185,000. Finally, Ameritas Investment Partners Inc. bought a new stake in shares of Clovis Oncology during the first quarter valued at approximately $195,000. 90.67% of the stock is currently owned by institutional investors and hedge funds.
Shares of Clovis Oncology, Inc. (CLVS) opened at 70.99 on Friday. The firm has a 50 day moving average price of $87.18 and a 200 day moving average price of $67.07. Clovis Oncology, Inc. has a one year low of $16.58 and a one year high of $99.45. The company’s market capitalization is $3.47 billion.
Clovis Oncology (NASDAQ:CLVS) last announced its quarterly earnings data on Wednesday, August 2nd. The biopharmaceutical company reported ($1.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.27) by $0.02. The firm had revenue of $14.62 million during the quarter, compared to the consensus estimate of $13.07 million. Clovis Oncology’s revenue for the quarter was down 32.5% compared to the same quarter last year. During the same quarter last year, the company earned ($2.07) earnings per share. On average, equities research analysts predict that Clovis Oncology, Inc. will post ($7.51) EPS for the current fiscal year.
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A number of equities analysts have commented on the company. Bank of America Corporation reduced their price objective on Clovis Oncology from $103.00 to $75.00 and set a “buy” rating on the stock in a research note on Tuesday, June 20th. J P Morgan Chase & Co reissued an “overweight” rating and issued a $111.00 price objective (up previously from $72.00) on shares of Clovis Oncology in a research note on Tuesday, June 20th. Zacks Investment Research lowered Clovis Oncology from a “buy” rating to a “hold” rating in a research note on Thursday, July 13th. Janney Montgomery Scott raised Clovis Oncology from a “neutral” rating to a “buy” rating in a research note on Tuesday, June 20th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $79.00 price objective on shares of Clovis Oncology in a research note on Tuesday, June 20th. Eight research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Clovis Oncology currently has an average rating of “Buy” and an average price target of $82.47.
In related news, insider Gillian C. Ivers-Read sold 3,000 shares of the business’s stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $47.39, for a total value of $142,170.00. Following the completion of the sale, the insider now directly owns 203,583 shares of the company’s stock, valued at approximately $9,647,798.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director James C. Blair sold 18,450 shares of the business’s stock in a transaction dated Friday, August 4th. The shares were 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 of the company’s stock, valued at $171,762.85. The disclosure for this sale can be found here. Insiders sold a total of 27,450 shares of company stock valued at $2,052,665 over the last ninety days. 17.40% of the stock is currently owned by corporate insiders.
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’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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