Alliancebernstein L.P. lifted its stake in shares of Clovis Oncology, Inc. (NASDAQ:CLVS) by 27.1% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 958,721 shares of the biopharmaceutical company’s stock after acquiring an additional 204,599 shares during the period. Alliancebernstein L.P. owned 2.15% of Clovis Oncology worth $89,765,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. Frontier Capital Management Co. LLC acquired a new position in shares of Clovis Oncology during the 1st quarter valued at $4,617,000. Greenwood Capital Associates LLC lifted its position in shares of Clovis Oncology by 4.0% during the 2nd quarter. Greenwood Capital Associates LLC now owns 5,485 shares of the biopharmaceutical company’s stock valued at $514,000 after acquiring an additional 212 shares during the period. Sphera Funds Management LTD. acquired a new position in shares of Clovis Oncology during the 2nd quarter valued at $8,708,000. Boston Advisors LLC acquired a new position in shares of Clovis Oncology during the 2nd quarter valued at $8,332,000. Finally, Jasper Ridge Partners L.P. lifted its position in shares of Clovis Oncology by 100.0% during the 1st quarter. Jasper Ridge Partners L.P. now owns 9,184 shares of the biopharmaceutical company’s stock valued at $585,000 after acquiring an additional 4,592 shares during the period. Institutional investors own 98.94% of the company’s stock.
Clovis Oncology, Inc. (CLVS) opened at 68.76 on Tuesday. The company’s market cap is $3.36 billion. Clovis Oncology, Inc. has a 12 month low of $25.50 and a 12 month high of $99.45. The firm’s 50-day moving average is $76.49 and its 200-day moving average is $68.60.
Clovis Oncology (NASDAQ:CLVS) last released its quarterly earnings results on Wednesday, August 2nd. The biopharmaceutical company reported ($1.29) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($1.27) by $0.02. The business had revenue of $14.62 million during the quarter, compared to analyst estimates of $13.07 million. The firm’s revenue for the quarter was down 32.5% on a year-over-year basis. During the same period in the prior year, the company posted ($2.07) EPS. On average, analysts anticipate that Clovis Oncology, Inc. will post ($7.53) EPS for the current fiscal year.
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In related news, Director James C. Blair sold 18,450 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the director now directly owns 2,185 shares in the company, valued at approximately $171,762.85. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Gillian C. Ivers-Read sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, July 17th. The shares were 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 of the company’s stock, valued at $18,090,699.48. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 27,450 shares of company stock valued at $2,120,645. 17.40% of the stock is currently owned by corporate insiders.
CLVS has been the topic of a number of research reports. ValuEngine upgraded shares of Clovis Oncology from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Cann reiterated a “hold” rating on shares of Clovis Oncology in a research report on Monday, July 31st. Credit Suisse Group reiterated an “outperform” rating and set a $88.00 target price on shares of Clovis Oncology in a research report on Friday, June 16th. Zacks Investment Research upgraded shares of Clovis Oncology from a “hold” rating to a “buy” rating and set a $105.00 price objective on the stock in a report on Wednesday, July 12th. Finally, Bank of America Corporation restated a “buy” rating on shares of Clovis Oncology in a report on Thursday, August 3rd. Eight analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $85.16.
Clovis Oncology 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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