Asymmetry Capital Management L.P. increased its stake in shares of Clovis Oncology, Inc. (NASDAQ:CLVS) by 912.0% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 32,385 shares of the biopharmaceutical company’s stock after acquiring an additional 29,185 shares during the period. Clovis Oncology comprises approximately 3.6% of Asymmetry Capital Management L.P.’s investment portfolio, making the stock its 14th largest holding. Asymmetry Capital Management L.P. owned 0.07% of Clovis Oncology worth $3,032,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FMR LLC raised its stake in Clovis Oncology by 271.4% in the first quarter. FMR LLC now owns 1,816,859 shares of the biopharmaceutical company’s stock valued at $115,679,000 after buying an additional 1,327,703 shares during the period. Wellington Management Group LLP raised its stake in Clovis Oncology by 10,143.6% in the first quarter. Wellington Management Group LLP now owns 1,331,669 shares of the biopharmaceutical company’s stock valued at $84,788,000 after buying an additional 1,318,669 shares during the period. Jennison Associates LLC raised its stake in Clovis Oncology by 222.5% in the second quarter. Jennison Associates LLC now owns 1,185,177 shares of the biopharmaceutical company’s stock valued at $110,968,000 after buying an additional 817,677 shares during the period. Franklin Resources Inc. raised its stake in Clovis Oncology by 70.3% in the second quarter. Franklin Resources Inc. now owns 1,665,200 shares of the biopharmaceutical company’s stock valued at $155,913,000 after buying an additional 687,300 shares during the period. Finally, Vanguard Group Inc. raised its stake in Clovis Oncology by 25.3% in the first quarter. Vanguard Group Inc. now owns 3,285,195 shares of the biopharmaceutical company’s stock valued at $209,169,000 after buying an additional 662,969 shares during the period. Institutional investors and hedge funds own 99.03% of the company’s stock.
In related news, insider Gillian C. Ivers-Read sold 3,000 shares of Clovis Oncology stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $69.50, for a total value of $208,500.00. Following the sale, the insider now owns 191,583 shares of the company’s stock, valued at approximately $13,315,018.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James C. Blair sold 18,450 shares of Clovis Oncology stock in a transaction that occurred on 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 in the company, valued at approximately $171,762.85. The disclosure for this sale can be found here. Insiders sold a total of 27,450 shares of company stock worth $2,143,685 in the last ninety days. 12.50% of the stock is currently owned by insiders.
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Clovis Oncology, Inc. (NASDAQ CLVS) traded up 0.37% during trading on Thursday, hitting $83.09. The stock had a trading volume of 560,765 shares. Clovis Oncology, Inc. has a 1-year low of $25.81 and a 1-year high of $99.45. The firm’s market capitalization is $4.06 billion. The firm has a 50 day moving average price of $76.15 and a 200-day moving average price of $70.77.
Clovis Oncology (NASDAQ:CLVS) last posted its quarterly earnings results on Wednesday, August 2nd. The biopharmaceutical company reported ($1.29) EPS for the quarter, missing analysts’ consensus estimates of ($1.27) by ($0.02). The company had revenue of $14.62 million for the quarter, compared to the consensus estimate of $13.07 million. The company’s revenue for the quarter was down 32.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($2.07) earnings per share. On average, equities research analysts expect that Clovis Oncology, Inc. will post ($7.55) EPS for the current year.
Several research firms have issued reports on CLVS. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Clovis Oncology in a research note on Tuesday. Zacks Investment Research lowered Clovis Oncology from a “hold” rating to a “sell” rating in a research note on Tuesday, October 3rd. Leerink Swann restated a “buy” rating and issued a $107.00 price objective on shares of Clovis Oncology in a research note on Monday, September 18th. Royal Bank Of Canada began coverage on Clovis Oncology in a research note on Thursday, September 14th. They issued a “sector perform” rating and a $81.00 price objective on the stock. Finally, Cann restated a “hold” rating on shares of Clovis Oncology in a research note on Monday, September 11th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $87.09.
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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