Clovis Oncology (NASDAQ:CLVS) Shares Acquired by Oppenheimer & Co. Inc.
Oppenheimer & Co. Inc. increased its stake in Clovis Oncology (NASDAQ:CLVS) by 6.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 29,955 shares of the biopharmaceutical company’s stock after purchasing an additional 1,782 shares during the period. Oppenheimer & Co. Inc. owned 0.05% of Clovis Oncology worth $445,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in CLVS. Ropes Wealth Advisors LLC acquired a new position in Clovis Oncology during the 2nd quarter valued at approximately $27,000. Aperio Group LLC bought a new stake in Clovis Oncology in the second quarter valued at $48,000. Nelson Van Denburg & Campbell Wealth Management Group LLC acquired a new position in shares of Clovis Oncology during the first quarter valued at $192,000. Xact Kapitalforvaltning AB acquired a new position in shares of Clovis Oncology during the first quarter valued at $224,000. Finally, Bank of Montreal Can boosted its holdings in shares of Clovis Oncology by 55.8% during the second quarter. Bank of Montreal Can now owns 9,652 shares of the biopharmaceutical company’s stock valued at $143,000 after acquiring an additional 3,457 shares during the period. 91.69% of the stock is currently owned by institutional investors and hedge funds.
Shares of NASDAQ CLVS traded down $0.05 during midday trading on Wednesday, reaching $5.95. 802,962 shares of the company traded hands, compared to its average volume of 3,208,160. The company has a market cap of $319.76 million, a price-to-earnings ratio of -0.84 and a beta of 1.91. The stock has a 50-day moving average price of $7.08 and a 200 day moving average price of $16.43. Clovis Oncology has a 52 week low of $4.98 and a 52 week high of $35.84. The company has a debt-to-equity ratio of 8.04, a current ratio of 3.57 and a quick ratio of 3.32.
A number of analysts recently weighed in on CLVS shares. Barclays set a $36.00 price objective on shares of Clovis Oncology and gave the stock a “buy” rating in a report on Friday, August 2nd. Credit Suisse Group reissued a “buy” rating and set a $29.00 target price on shares of Clovis Oncology in a research note on Wednesday, May 15th. JPMorgan Chase & Co. reissued a “hold” rating and set a $27.00 target price on shares of Clovis Oncology in a research note on Monday, June 3rd. G.Research restated a “buy” rating on shares of Clovis Oncology in a research report on Friday, August 2nd. Finally, Piper Jaffray Companies restated a “neutral” rating on shares of Clovis Oncology in a research note on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company. Clovis Oncology presently has an average rating of “Hold” and a consensus price target of $25.09.
In other news, insider Patrick J. Mahaffy bought 50,000 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The shares were purchased at an average price of $5.59 per share, with a total value of $279,500.00. Following the completion of the acquisition, the insider now directly owns 919,187 shares in the company, valued at $5,138,255.33. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James C. Blair bought 40,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The shares were purchased at an average cost of $5.84 per share, for a total transaction of $233,600.00. Following the acquisition, the director now owns 33,439 shares of the company’s stock, valued at $195,283.76. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 107,800 shares of company stock valued at $612,094 and sold 2,597 shares valued at $30,139. Corporate insiders own 8.30% of the company’s stock.
Clovis Oncology Profile
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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