Artal Group S.A. Acquires Shares of 25,000 Clovis Oncology, Inc. (CLVS)
Artal Group S.A. acquired a new position in shares of Clovis Oncology, Inc. (NASDAQ:CLVS) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 25,000 shares of the biopharmaceutical company’s stock, valued at approximately $2,341,000. Artal Group S.A. owned 0.06% of Clovis Oncology at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Greenwood Capital Associates LLC boosted its position in Clovis Oncology by 4.0% during the second quarter. Greenwood Capital Associates LLC now owns 5,485 shares of the biopharmaceutical company’s stock worth $514,000 after purchasing an additional 212 shares during the period. Frontier Capital Management Co. LLC bought a new position in Clovis Oncology during the first quarter worth $4,617,000. Sphera Funds Management LTD. bought a new position in Clovis Oncology during the second quarter worth $8,708,000. Boston Advisors LLC bought a new position in Clovis Oncology during the second quarter worth $8,332,000. Finally, UBS Asset Management Americas Inc. boosted its position in Clovis Oncology by 6.9% during the first quarter. UBS Asset Management Americas Inc. now owns 272,092 shares of the biopharmaceutical company’s stock worth $17,324,000 after purchasing an additional 17,450 shares during the period. 99.03% of the stock is owned by hedge funds and other institutional investors.
CLVS has been the subject of a number of research analyst reports. ValuEngine raised shares of Clovis Oncology from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Cann reaffirmed a “hold” rating on shares of Clovis Oncology in a research report on Monday, July 31st. Credit Suisse Group reaffirmed an “outperform” rating and set a $88.00 price objective on shares of Clovis Oncology in a research report on Friday, June 16th. Zacks Investment Research raised shares of Clovis Oncology from a “hold” rating to a “buy” rating and set a $105.00 price objective for the company in a research report on Wednesday, July 12th. Finally, Bank of America Corporation reaffirmed a “buy” rating on shares of Clovis Oncology in a research report on Thursday, August 3rd. Nine equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $84.91.
Clovis Oncology, Inc. (CLVS) traded down 0.6051% during midday trading on Wednesday, reaching $75.5501. 196,063 shares of the company traded hands. The firm has a 50-day moving average price of $73.35 and a 200-day moving average price of $69.15. The firm’s market capitalization is $3.69 billion. Clovis Oncology, Inc. has a one year low of $25.50 and a one year high of $99.45.
Clovis Oncology (NASDAQ:CLVS) last announced its quarterly earnings data on Wednesday, August 2nd. The biopharmaceutical company reported ($1.29) earnings per share for the quarter, missing the consensus estimate of ($1.27) by ($0.02). The company had revenue of $14.62 million during the quarter, compared to the consensus estimate of $13.07 million. During the same period in the prior year, the business posted ($2.07) earnings per share. The business’s revenue was down 32.5% compared to the same quarter last year. Equities analysts predict that Clovis Oncology, Inc. will post ($7.56) EPS for the current fiscal year.
In other Clovis Oncology news, 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 value of $1,450,354.50. Following the completion of the transaction, the director now owns 2,185 shares in the company, valued at approximately $171,762.85. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Gillian C. Ivers-Read sold 3,000 shares of the firm’s stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $69.50, for a total value of $208,500.00. Following the completion of the transaction, the insider now owns 191,583 shares of the company’s stock, valued at approximately $13,315,018.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 27,450 shares of company stock valued at $2,143,685. 17.40% of the stock is owned by corporate insiders.
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About Clovis Oncology
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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