Moloney Securities Asset Management LLC Makes New $236,000 Investment in Clovis Oncology (NASDAQ:CLVS)
Moloney Securities Asset Management LLC acquired a new position in Clovis Oncology (NASDAQ:CLVS) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 60,000 shares of the biopharmaceutical company’s stock, valued at approximately $236,000. Moloney Securities Asset Management LLC owned 0.11% of Clovis Oncology at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. First Trust Advisors LP acquired a new position in shares of Clovis Oncology during the second quarter valued at $723,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Clovis Oncology by 3.5% during the second quarter. Charles Schwab Investment Management Inc. now owns 301,445 shares of the biopharmaceutical company’s stock valued at $4,483,000 after acquiring an additional 10,217 shares during the period. Gabelli Funds LLC boosted its holdings in shares of Clovis Oncology by 143.6% during the second quarter. Gabelli Funds LLC now owns 108,900 shares of the biopharmaceutical company’s stock valued at $1,619,000 after acquiring an additional 64,200 shares during the period. Aperio Group LLC acquired a new position in shares of Clovis Oncology during the second quarter valued at $48,000. Finally, Bourgeon Capital Management LLC acquired a new position in shares of Clovis Oncology during the second quarter valued at $186,000. 91.56% of the stock is owned by hedge funds and other institutional investors.
CLVS traded up $1.02 during trading on Friday, reaching $5.34. The company had a trading volume of 602,247 shares, compared to its average volume of 3,769,051. The firm’s 50-day simple moving average is $3.70 and its 200 day simple moving average is $10.22. The company has a market cap of $197.31 million, a price-to-earnings ratio of -0.75 and a beta of 1.76. Clovis Oncology has a 12-month low of $2.93 and a 12-month high of $32.05. The company has a debt-to-equity ratio of 8.04, a quick ratio of 3.32 and a current ratio of 3.57.
In other Clovis Oncology news, Director James C. Blair bought 40,000 shares of the stock in a transaction on Tuesday, August 20th. The shares were bought at an average price of $5.84 per share, with a total value of $233,600.00. Following the purchase, the director now directly owns 33,439 shares in the company, valued at approximately $195,283.76. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Thorlef Spickschen bought 8,600 shares of the stock in a transaction on Friday, August 16th. The shares were acquired at an average cost of $5.67 per share, for a total transaction of $48,762.00. Following the purchase, the director now owns 58,176 shares in the company, valued at $329,857.92. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 107,800 shares of company stock worth $612,094 and have sold 1,706 shares worth $8,755. Insiders own 8.30% of the company’s stock.
Several brokerages have recently issued reports on CLVS. Piper Jaffray Companies reduced their price target on shares of Clovis Oncology from $11.00 to $4.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. Leerink Swann downgraded shares of Clovis Oncology from an “outperform” rating to a “market perform” rating and set a $10.00 price target for the company. in a report on Tuesday, September 24th. G.Research restated a “buy” rating on shares of Clovis Oncology in a research note on Friday, August 2nd. Royal Bank of Canada set a $26.00 price objective on shares of Clovis Oncology and gave the company a “buy” rating in a research note on Friday, August 2nd. Finally, ValuEngine cut shares of Clovis Oncology from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $20.75.
Clovis Oncology Company Profile
Clovis Oncology, Inc, a biopharmaceutical company, focuses on acquiring, developing, and commercializing anti-cancer agents in the United States, Europe, and internationally. Its commercial product includes Rubraca (rucaparib) tablet, a small molecule poly ADP-ribose polymerase inhibitor, used as monotherapy for the treatment of patients with deleterious BRCA mutation associated advanced ovarian cancer, who have been treated with two or more chemotherapies, and selected for therapy by an FDA-approved companion diagnostic for Rubraca.
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