Clovis Oncology (CLVS) Shares Gap Down to $54.41

Shares of Clovis Oncology (NASDAQ:CLVS) gapped down before the market opened on Tuesday . The stock had previously closed at $51.30, but opened at $54.41. Clovis Oncology shares last traded at $53.60, with a volume of 3610103 shares.

Several research firms have issued reports on CLVS. BidaskClub upgraded Clovis Oncology from a “sell” rating to a “hold” rating in a report on Wednesday, April 11th. ValuEngine downgraded Clovis Oncology from a “hold” rating to a “sell” rating in a report on Tuesday. Oppenheimer restated a “hold” rating on shares of Clovis Oncology in a report on Wednesday, December 20th. Stifel Nicolaus cut their price objective on Clovis Oncology from $125.00 to $110.00 and set a “buy” rating on the stock in a report on Tuesday, February 27th. Finally, Cann reaffirmed a “hold” rating on shares of Clovis Oncology in a research note on Tuesday, February 27th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $87.60.

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The company has a market cap of $3,066.76, a P/E ratio of -10.64 and a beta of 0.93. The company has a debt-to-equity ratio of 0.77, a current ratio of 7.69 and a quick ratio of 7.35.

Clovis Oncology (NASDAQ:CLVS) last announced its quarterly earnings results on Monday, February 26th. The biopharmaceutical company reported ($1.04) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.29) by $0.25. The business had revenue of $17.04 million during the quarter, compared to analysts’ expectations of $19.42 million. Clovis Oncology had a negative return on equity of 81.34% and a negative net margin of 624.02%. The firm’s quarterly revenue was up 21746.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($1.83) EPS. equities analysts anticipate that Clovis Oncology will post -4.78 earnings per share for the current year.

In related news, insider Gillian C. Ivers-Read sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $54.09, for a total value of $162,270.00. Following the completion of the sale, the insider now directly owns 180,571 shares in the company, valued at approximately $9,767,085.39. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Thorlef Spickschen sold 4,500 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $60.00, for a total value of $270,000.00. Following the completion of the sale, the director now owns 16,618 shares of the company’s stock, valued at $997,080. The disclosure for this sale can be found here. In the last three months, insiders sold 16,500 shares of company stock valued at $978,975. 12.50% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of CLVS. First Republic Investment Management Inc. acquired a new stake in Clovis Oncology in the 3rd quarter worth approximately $251,000. Xact Kapitalforvaltning AB acquired a new stake in Clovis Oncology in the 4th quarter worth approximately $328,000. Greenwood Capital Associates LLC lifted its holdings in Clovis Oncology by 21.6% in the 4th quarter. Greenwood Capital Associates LLC now owns 5,605 shares of the biopharmaceutical company’s stock worth $381,000 after purchasing an additional 996 shares during the last quarter. Sheaff Brock Investment Advisors LLC lifted its holdings in Clovis Oncology by 30.1% in the 4th quarter. Sheaff Brock Investment Advisors LLC now owns 6,376 shares of the biopharmaceutical company’s stock worth $434,000 after purchasing an additional 1,476 shares during the last quarter. Finally, Legato Capital Management LLC acquired a new stake in Clovis Oncology in the 4th quarter worth approximately $490,000.

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About Clovis Oncology

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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