Clovis Oncology Inc. (CLVS) Short Interest Up 15.8% in September
Clovis Oncology Inc. (NASDAQ:CLVS) saw a large increase in short interest during the month of September. As of September 30th, there was short interest totalling 12,649,940 shares, an increase of 15.8% from the September 15th total of 10,926,674 shares. Approximately 38.2% of the company’s stock are sold short. Based on an average daily trading volume, of 5,193,870 shares, the days-to-cover ratio is presently 2.4 days.
Large investors have recently added to or reduced their stakes in the stock. Moody Aldrich Partners LLC purchased a new stake in Clovis Oncology during the third quarter valued at approximately $747,000. Creative Planning boosted its position in shares of Clovis Oncology by 524.4% in the third quarter. Creative Planning now owns 11,638 shares of the biopharmaceutical company’s stock valued at $420,000 after buying an additional 9,774 shares during the last quarter. Royal Bank of Canada boosted its position in shares of Clovis Oncology by 2,075.9% in the second quarter. Royal Bank of Canada now owns 18,212 shares of the biopharmaceutical company’s stock valued at $250,000 after buying an additional 17,375 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its position in shares of Clovis Oncology by 3.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 105,186 shares of the biopharmaceutical company’s stock valued at $1,444,000 after buying an additional 3,444 shares during the last quarter. Finally, Palo Alto Investors LLC boosted its position in shares of Clovis Oncology by 9.9% in the second quarter. Palo Alto Investors LLC now owns 3,804,088 shares of the biopharmaceutical company’s stock valued at $52,192,000 after buying an additional 342,723 shares during the last quarter. Hedge funds and other institutional investors own 98.50% of the company’s stock.
Clovis Oncology (NASDAQ:CLVS) opened at 32.93 on Wednesday. The firm’s 50-day moving average price is $31.63 and its 200 day moving average price is $19.35. The company’s market cap is $1.27 billion. Clovis Oncology has a 52-week low of $11.57 and a 52-week high of $109.18.
Clovis Oncology (NASDAQ:CLVS) last released its quarterly earnings data on Monday, August 8th. The biopharmaceutical company reported ($2.07) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($2.13) by $0.06. During the same period in the prior year, the company posted ($2.10) EPS. On average, equities analysts predict that Clovis Oncology will post ($9.25) EPS for the current fiscal year.
Several equities research analysts have recently commented on CLVS shares. SunTrust Banks Inc. started coverage on Clovis Oncology in a report on Friday, August 5th. They issued a “buy” rating and a $25.00 price objective for the company. Piper Jaffray Cos. reissued a “hold” rating and issued a $14.00 price objective on shares of Clovis Oncology in a report on Wednesday, June 29th. Credit Suisse Group AG reissued an “outperform” rating and issued a $41.00 price objective on shares of Clovis Oncology in a report on Monday, October 10th. Zacks Investment Research downgraded Clovis Oncology from a “buy” rating to a “hold” rating in a report on Tuesday, October 4th. Finally, Stifel Nicolaus increased their price objective on Clovis Oncology from $30.00 to $45.00 and gave the company a “buy” rating in a report on Wednesday, September 21st. Seven equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Clovis Oncology presently has an average rating of “Buy” and a consensus price target of $36.39.
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 is developing approximately three product candidates: Rociletinib, Rucaparib and Lucitanib. Rociletinib is an oral epidermal growth factor receptor (EGFR), mutant-selective covalent inhibitor that is under review with the United States and European regulatory authorities for the treatment of non-small cell lung cancer (NSCLC) in patients with activating EGFR mutations, as well as the resistance mutation, T790M.
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