Granite Point Capital Management L.P. trimmed its holdings in shares of Clovis Oncology, Inc. (NASDAQ:CLVS) by 23.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 30,700 shares of the biopharmaceutical company’s stock after selling 9,300 shares during the quarter. Clovis Oncology accounts for approximately 0.5% of Granite Point Capital Management L.P.’s investment portfolio, making the stock its 19th largest holding. Granite Point Capital Management L.P. owned approximately 0.06% of Clovis Oncology worth $2,530,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in the company. Phocas Financial Corp. bought a new stake in shares of Clovis Oncology in the second quarter valued at about $112,000. Capital Analysts LLC bought a new stake in shares of Clovis Oncology in the third quarter valued at about $111,000. Advisors Asset Management Inc. raised its holdings in shares of Clovis Oncology by 160.7% in the second quarter. Advisors Asset Management Inc. now owns 1,895 shares of the biopharmaceutical company’s stock valued at $177,000 after acquiring an additional 1,168 shares in the last quarter. Cypress Capital Management LLC WY raised its holdings in shares of Clovis Oncology by 272.7% in the third quarter. Cypress Capital Management LLC WY now owns 2,050 shares of the biopharmaceutical company’s stock valued at $169,000 after acquiring an additional 1,500 shares in the last quarter. Finally, Bank of Montreal Can raised its holdings in shares of Clovis Oncology by 284.9% in the second quarter. Bank of Montreal Can now owns 2,702 shares of the biopharmaceutical company’s stock valued at $253,000 after acquiring an additional 2,000 shares in the last quarter.
In other Clovis Oncology news, insider Gillian C. Ivers-Read sold 3,000 shares of Clovis Oncology stock in a transaction dated Monday, October 16th. The stock was sold at an average price of $84.54, for a total value of $253,620.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders sold 9,000 shares of company stock worth $653,220 in the last quarter. 12.50% of the stock is owned by insiders.
Clovis Oncology (NASDAQ:CLVS) last posted its earnings results on Wednesday, November 1st. The biopharmaceutical company reported ($1.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.18) by ($0.06). Clovis Oncology had a negative net margin of 947.47% and a negative return on equity of 122.06%. The company had revenue of $16.81 million during the quarter, compared to analysts’ expectations of $21.12 million. During the same quarter last year, the firm earned ($1.70) EPS. sell-side analysts anticipate that Clovis Oncology, Inc. will post -7.63 EPS for the current year.
Several research firms recently weighed in on CLVS. ValuEngine downgraded Clovis Oncology from a “hold” rating to a “sell” rating in a report on Tuesday. Leerink Swann restated an “outperform” rating and issued a $90.00 price objective (down from $107.00) on shares of Clovis Oncology in a report on Wednesday, November 15th. Stifel Nicolaus restated a “buy” rating and issued a $125.00 price objective on shares of Clovis Oncology in a report on Friday, November 3rd. Morgan Stanley decreased their price objective on Clovis Oncology from $89.00 to $86.00 and set an “overweight” rating for the company in a report on Thursday, November 2nd. Finally, Barclays began coverage on Clovis Oncology in a report on Monday, October 23rd. They issued an “overweight” rating and a $105.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and fourteen have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $86.15.
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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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