EcoR1 Capital LLC Acquires Shares of 10,000 Clovis Oncology, Inc. (CLVS)
EcoR1 Capital LLC acquired a new stake in shares of Clovis Oncology, Inc. (NASDAQ:CLVS) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 10,000 shares of the biopharmaceutical company’s stock, valued at approximately $936,000.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Clovis Oncology by 71.4% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,819 shares of the biopharmaceutical company’s stock valued at $116,000 after purchasing an additional 758 shares during the period. Advisors Asset Management Inc. increased its stake in shares of Clovis Oncology by 160.7% in the second quarter. Advisors Asset Management Inc. now owns 1,895 shares of the biopharmaceutical company’s stock worth $177,000 after buying an additional 1,168 shares during the last quarter. Legato Capital Management LLC bought a new stake in shares of Clovis Oncology in the second quarter worth $220,000. Bank of Montreal Can increased its stake in shares of Clovis Oncology by 284.9% in the second quarter. Bank of Montreal Can now owns 2,702 shares of the biopharmaceutical company’s stock worth $253,000 after buying an additional 2,000 shares during the last quarter. Finally, Stevens Capital Management LP bought a new stake in shares of Clovis Oncology in the second quarter worth $257,000. Institutional investors own 99.03% of the company’s stock.
In other Clovis Oncology news, Director James C. Blair sold 18,450 shares of the firm’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $78.61, for a total transaction of $1,450,354.50. Following the transaction, the director now owns 2,185 shares in the company, valued at $171,762.85. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Gillian C. Ivers-Read sold 3,000 shares of the firm’s stock in a transaction dated Monday, July 17th. The stock was sold at an average price of $91.56, for a total value of $274,680.00. Following the transaction, the insider now owns 197,583 shares in the company, valued at approximately $18,090,699.48. The disclosure for this sale can be found here. Insiders have sold 27,450 shares of company stock worth $2,143,685 in the last 90 days. Company insiders own 12.50% of the company’s stock.
A number of analysts recently issued reports on the stock. Cann assumed coverage on shares of Clovis Oncology in a research note on Thursday, June 22nd. They issued a “market perform” rating for the company. Evercore ISI assumed coverage on shares of Clovis Oncology in a research note on Wednesday, August 16th. They issued an “in-line” rating and a $73.00 price target for the company. J P Morgan Chase & Co restated a “buy” rating on shares of Clovis Oncology in a research note on Friday, August 18th. Leerink Swann dropped their price target on shares of Clovis Oncology to $107.00 and set an “outperform” rating for the company in a research note on Friday, August 18th. Finally, BidaskClub upgraded shares of Clovis Oncology from a “hold” rating to a “buy” rating in a research note on Wednesday, June 21st. One analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have issued a buy rating to the stock. Clovis Oncology currently has an average rating of “Buy” and an average price target of $87.09.
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Clovis Oncology, Inc. (NASDAQ CLVS) traded up 1.39% during midday trading on Friday, reaching $84.39. 1,167,683 shares of the company traded hands. The company’s market cap is $4.12 billion. Clovis Oncology, Inc. has a 12-month low of $25.81 and a 12-month high of $99.45. The company has a 50-day moving average price of $75.18 and a 200-day moving average price of $70.42.
Clovis Oncology (NASDAQ:CLVS) last announced its earnings results on Wednesday, August 2nd. The biopharmaceutical company reported ($1.29) EPS for the quarter, missing the consensus estimate 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. The business’s revenue was down 32.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($2.07) EPS. On average, analysts predict that Clovis Oncology, Inc. will post ($7.55) earnings per share for the current fiscal year.
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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