40,000 Shares in Clovis Oncology, Inc. (CLVS) Acquired by Granite Point Capital Management L.P.
Granite Point Capital Management L.P. acquired a new stake in shares of Clovis Oncology, Inc. (NASDAQ:CLVS) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 40,000 shares of the biopharmaceutical company’s stock, valued at approximately $3,745,000. Clovis Oncology accounts for approximately 0.9% of Granite Point Capital Management L.P.’s holdings, making the stock its 11th largest position. Granite Point Capital Management L.P. owned approximately 0.09% of Clovis Oncology as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of CLVS. FMR LLC lifted its stake in Clovis Oncology by 271.4% during the first quarter. FMR LLC now owns 1,816,859 shares of the biopharmaceutical company’s stock worth $115,679,000 after purchasing an additional 1,327,703 shares during the last quarter. Wellington Management Group LLP lifted its stake in Clovis Oncology by 10,143.6% during the first quarter. Wellington Management Group LLP now owns 1,331,669 shares of the biopharmaceutical company’s stock worth $84,788,000 after purchasing an additional 1,318,669 shares during the last quarter. Jennison Associates LLC lifted its stake in Clovis Oncology by 222.5% during the second quarter. Jennison Associates LLC now owns 1,185,177 shares of the biopharmaceutical company’s stock worth $110,968,000 after purchasing an additional 817,677 shares during the last quarter. Alliancebernstein L.P. lifted its stake in Clovis Oncology by 1,538.0% during the first quarter. Alliancebernstein L.P. now owns 754,122 shares of the biopharmaceutical company’s stock worth $48,015,000 after purchasing an additional 708,082 shares during the last quarter. Finally, Franklin Resources Inc. lifted its stake in Clovis Oncology by 70.3% during the second quarter. Franklin Resources Inc. now owns 1,665,200 shares of the biopharmaceutical company’s stock worth $155,913,000 after purchasing an additional 687,300 shares during the last quarter. 98.94% of the stock is owned by institutional investors.
In other Clovis Oncology news, insider Gillian C. Ivers-Read sold 3,000 shares of the firm’s stock in a transaction dated Monday, July 17th. The shares were sold at an average price of $91.56, for a total value of $274,680.00. Following the completion of the sale, the insider now owns 197,583 shares of the company’s stock, valued at $18,090,699.48. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director James C. Blair sold 18,450 shares of the firm’s stock in a transaction dated 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 sale, the director now directly owns 2,185 shares of the company’s stock, valued at approximately $171,762.85. The disclosure for this sale can be found here. In the last three months, insiders sold 27,450 shares of company stock valued at $2,120,645. 17.40% of the stock is owned by insiders.
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Several equities research analysts have issued reports on the company. Cann assumed coverage on Clovis Oncology in a research note on Thursday, June 22nd. They set a “market perform” rating for the company. Evercore ISI assumed coverage on Clovis Oncology in a research note on Wednesday, August 16th. They set an “in-line” rating and a $73.00 price target for the company. Leerink Swann dropped their price target on Clovis Oncology to $107.00 and set an “outperform” rating for the company in a research note on Friday, August 18th. J P Morgan Chase & Co reaffirmed a “buy” rating on shares of Clovis Oncology in a research note on Friday, August 18th. Finally, BidaskClub raised Clovis Oncology from a “hold” rating to a “buy” rating in a research note on Wednesday, June 21st. Eight analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Clovis Oncology presently has a consensus rating of “Buy” and an average price target of $85.16.
Shares of Clovis Oncology, Inc. (NASDAQ CLVS) traded up 0.41% on Wednesday, reaching $70.90. The company had a trading volume of 1,053,292 shares. The stock’s 50 day moving average is $76.27 and its 200 day moving average is $68.61. Clovis Oncology, Inc. has a 52 week low of $25.50 and a 52 week high of $99.45. The firm’s market capitalization is $3.47 billion.
Clovis Oncology (NASDAQ:CLVS) last announced its quarterly earnings data on Wednesday, August 2nd. The biopharmaceutical company reported ($1.29) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.27) by ($0.02). The business had revenue of $14.62 million for the quarter, compared to analyst estimates of $13.07 million. Clovis Oncology’s revenue was down 32.5% compared to the same quarter last year. During the same period in the prior year, the firm posted ($2.07) earnings per share. On average, equities analysts anticipate that Clovis Oncology, Inc. will post ($7.53) EPS for the current year.
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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