Trexquant Investment LP Takes Position in Clovis Oncology, Inc. (NASDAQ:CLVS)
Trexquant Investment LP purchased a new position in Clovis Oncology, Inc. (NASDAQ:CLVS) during the second quarter, according to its most recent filing with the SEC. The institutional investor purchased 6,100 shares of the biopharmaceutical company’s stock, valued at approximately $571,000.
Other hedge funds also recently made changes to their positions in the company. First Mercantile Trust Co. bought a new stake in shares of Clovis Oncology during the first quarter worth 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 worth $116,000 after buying an additional 758 shares in the last quarter. Legato Capital Management LLC bought a new stake in shares of Clovis Oncology during the second quarter worth approximately $220,000. Bank of Montreal Can raised 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 in the last quarter. Finally, 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 worth $179,000 after buying an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 90.67% of the company’s stock.
Clovis Oncology, Inc. (CLVS) opened at 70.99 on Friday. The firm’s 50-day moving average is $87.18 and its 200 day moving average is $67.07. The stock’s market cap is $3.47 billion. Clovis Oncology, Inc. has a one year low of $16.58 and a one year high of $99.45.
Clovis Oncology (NASDAQ:CLVS) last issued its quarterly earnings data on Wednesday, August 2nd. The biopharmaceutical company reported ($1.29) EPS for the quarter, missing analysts’ consensus estimates of ($1.27) by $0.02. The firm had revenue of $14.62 million for the quarter, compared to analyst estimates of $13.07 million. Clovis Oncology’s revenue for the quarter was down 32.5% on a year-over-year basis. During the same quarter last year, the firm earned ($2.07) earnings per share. On average, analysts anticipate that Clovis Oncology, Inc. will post ($7.51) EPS for the current fiscal year.
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A number of brokerages have recently commented on CLVS. BidaskClub lowered shares of Clovis Oncology from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. Bank of America Corporation reiterated a “buy” rating on shares of Clovis Oncology in a research note on Thursday, August 3rd. Morgan Stanley reissued an “overweight” rating and issued a $93.00 price objective on shares of Clovis Oncology in a report on Thursday. J P Morgan Chase & Co reissued an “overweight” rating on shares of Clovis Oncology in a report on Tuesday, August 1st. Finally, Cann reissued a “hold” rating on shares of Clovis Oncology in a report on Monday, July 31st. Eight analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Clovis Oncology presently has a consensus rating of “Buy” and an average target price of $82.47.
In other news, Director James C. Blair sold 18,450 shares of the firm’s stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $78.61, for a total transaction of $1,450,354.50. Following the sale, the director now owns 2,185 shares of the company’s stock, valued at approximately $171,762.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Gillian C. Ivers-Read sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $61.82, for a total transaction of $185,460.00. Following the sale, the insider now directly owns 200,583 shares in the company, valued at approximately $12,400,041.06. The disclosure for this sale can be found here. Insiders have sold a total of 27,450 shares of company stock worth $2,052,665 in the last ninety days. Corporate insiders own 17.40% of the company’s stock.
Clovis Oncology Company 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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