Bourgeon Capital Management LLC raised its holdings in Clovis Oncology, Inc. (NASDAQ:CLVS) by 17.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 10,575 shares of the biopharmaceutical company’s stock after acquiring an additional 1,600 shares during the quarter. Bourgeon Capital Management LLC’s holdings in Clovis Oncology were worth $871,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in CLVS. Prudential Financial Inc. bought a new position in Clovis Oncology in the first quarter valued at approximately $242,000. Principal Financial Group Inc. boosted its stake in Clovis Oncology by 15.6% in the first quarter. Principal Financial Group Inc. now owns 6,816 shares of the biopharmaceutical company’s stock valued at $434,000 after acquiring an additional 918 shares during the last quarter. Teachers Advisors LLC boosted its stake in Clovis Oncology by 16.8% in the first quarter. Teachers Advisors LLC now owns 491,094 shares of the biopharmaceutical company’s stock valued at $31,268,000 after acquiring an additional 70,582 shares during the last quarter. California Public Employees Retirement System boosted its stake in Clovis Oncology by 10.8% in the first quarter. California Public Employees Retirement System now owns 27,600 shares of the biopharmaceutical company’s stock valued at $1,757,000 after acquiring an additional 2,700 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in Clovis Oncology by 3.7% in the first quarter. PNC Financial Services Group Inc. now owns 2,800 shares of the biopharmaceutical company’s stock valued at $179,000 after acquiring an additional 100 shares during the last quarter. 99.34% of the stock is currently owned by hedge funds and other institutional investors.
In other Clovis Oncology news, Director James C. Blair sold 18,450 shares of the company’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $78.61, for a total transaction of $1,450,354.50. Following the transaction, the director now owns 2,185 shares in the company, valued at $171,762.85. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Gillian C. Ivers-Read sold 3,000 shares of the company’s stock in a transaction on Monday, October 16th. The stock was sold at an average price of $84.54, for a total transaction of $253,620.00. The disclosure for this sale can be found here. Insiders have sold a total of 27,450 shares of company stock worth $2,122,625 in the last quarter. 12.50% of the stock is owned by corporate insiders.
Shares of Clovis Oncology, Inc. (CLVS) traded down 1.78% during midday trading on Wednesday, hitting $74.03. 170,249 shares of the company were exchanged. Clovis Oncology, Inc. has a one year low of $25.81 and a one year high of $99.45. The firm’s market capitalization is $3.62 billion. The firm’s 50 day moving average price is $78.10 and its 200 day moving average price is $72.63.
Clovis Oncology (NASDAQ:CLVS) last released its earnings results on Wednesday, August 2nd. The biopharmaceutical company reported ($1.29) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate 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. During the same quarter in the previous year, the firm earned ($2.07) EPS. The firm’s revenue for the quarter was down 32.5% compared to the same quarter last year. Analysts forecast that Clovis Oncology, Inc. will post ($7.58) EPS for the current fiscal year.
A number of brokerages have issued reports on CLVS. BidaskClub cut shares of Clovis Oncology from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 9th. Morgan Stanley reaffirmed an “overweight” rating and issued a $93.00 price objective on shares of Clovis Oncology in a research note on Thursday, August 10th. Bank of America Corporation reaffirmed a “buy” rating on shares of Clovis Oncology in a research note on Thursday, August 3rd. Leerink Swann reduced their price objective on shares of Clovis Oncology to $107.00 and set an “outperform” rating on the stock in a research note on Friday, August 18th. Finally, J P Morgan Chase & Co reaffirmed a “buy” rating on shares of Clovis Oncology in a research note on Friday, August 18th. Eight investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $87.56.
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Clovis Oncology 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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