Point72 Asset Management L.P. decreased its position in shares of Clovis Oncology (NASDAQ:CLVS) by 85.7% during the 2nd quarter, HoldingsChannel reports. The fund owned 165,000 shares of the biopharmaceutical company’s stock after selling 990,937 shares during the period. Point72 Asset Management L.P.’s holdings in Clovis Oncology were worth $7,503,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Palo Alto Investors LP boosted its position in shares of Clovis Oncology by 16.2% during the 1st quarter. Palo Alto Investors LP now owns 3,955,660 shares of the biopharmaceutical company’s stock worth $208,859,000 after acquiring an additional 552,879 shares in the last quarter. Carmignac Gestion boosted its position in shares of Clovis Oncology by 14.3% during the 1st quarter. Carmignac Gestion now owns 1,509,540 shares of the biopharmaceutical company’s stock worth $79,704,000 after acquiring an additional 188,676 shares in the last quarter. Voya Investment Management LLC lifted its stake in Clovis Oncology by 19.4% in the 2nd quarter. Voya Investment Management LLC now owns 641,570 shares of the biopharmaceutical company’s stock valued at $29,172,000 after purchasing an additional 104,114 shares during the last quarter. Westfield Capital Management Co. LP lifted its stake in Clovis Oncology by 8.9% in the 1st quarter. Westfield Capital Management Co. LP now owns 550,315 shares of the biopharmaceutical company’s stock valued at $29,057,000 after purchasing an additional 44,760 shares during the last quarter. Finally, Emerald Advisers Inc. PA lifted its stake in Clovis Oncology by 71.6% in the 2nd quarter. Emerald Advisers Inc. PA now owns 355,033 shares of the biopharmaceutical company’s stock valued at $16,143,000 after purchasing an additional 148,107 shares during the last quarter.
CLVS has been the subject of several research reports. Cann initiated coverage on shares of Clovis Oncology in a research note on Wednesday, August 8th. They issued a “hold” rating for the company. ValuEngine raised shares of Clovis Oncology from a “strong sell” rating to a “sell” rating in a research note on Thursday, August 2nd. Royal Bank of Canada reissued a “buy” rating and issued a $73.00 price objective on shares of Clovis Oncology in a research note on Tuesday, June 12th. Gabelli reissued a “buy” rating on shares of Clovis Oncology in a research note on Monday, July 16th. Finally, Zacks Investment Research downgraded shares of Clovis Oncology from a “hold” rating to a “sell” rating in a research note on Tuesday, July 10th. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and eleven have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $79.65.
Shares of NASDAQ:CLVS opened at $31.77 on Monday. The company has a market capitalization of $1.73 billion, a P/E ratio of -6.21 and a beta of 1.01. Clovis Oncology has a one year low of $31.19 and a one year high of $86.26. The company has a quick ratio of 9.21, a current ratio of 10.03 and a debt-to-equity ratio of 1.84.
Clovis Oncology (NASDAQ:CLVS) last released its quarterly earnings results on Wednesday, August 1st. The biopharmaceutical company reported ($1.94) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.38) by ($0.56). The business had revenue of $23.76 million for the quarter, compared to the consensus estimate of $22.44 million. Clovis Oncology had a negative net margin of 382.83% and a negative return on equity of 94.28%. Clovis Oncology’s revenue was up 62.5% on a year-over-year basis. During the same period in the previous year, the business posted ($1.29) EPS. research analysts forecast that Clovis Oncology will post -6.77 earnings per share for the current fiscal year.
Clovis Oncology Company 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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