PointState Capital LP cut its holdings in Clovis Oncology (NASDAQ:CLVS) by 12.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,542,123 shares of the biopharmaceutical company’s stock after selling 364,726 shares during the period. Clovis Oncology makes up 1.5% of PointState Capital LP’s investment portfolio, making the stock its 24th biggest holding. PointState Capital LP owned 4.84% of Clovis Oncology worth $134,224,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of the stock. Palo Alto Investors LP boosted its holdings in Clovis Oncology by 16.2% during the first quarter. Palo Alto Investors LP now owns 3,955,660 shares of the biopharmaceutical company’s stock valued at $208,859,000 after acquiring an additional 552,879 shares during the period. Highland Capital Management LP bought a new stake in Clovis Oncology during the first quarter valued at about $924,000. Amundi Pioneer Asset Management Inc. boosted its holdings in Clovis Oncology by 276.9% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 199,000 shares of the biopharmaceutical company’s stock valued at $10,507,000 after acquiring an additional 146,200 shares during the period. Cubist Systematic Strategies LLC boosted its holdings in Clovis Oncology by 414.6% during the first quarter. Cubist Systematic Strategies LLC now owns 5,784 shares of the biopharmaceutical company’s stock valued at $305,000 after acquiring an additional 4,660 shares during the period. Finally, Point72 Asset Management L.P. boosted its holdings in Clovis Oncology by 1.0% during the first quarter. Point72 Asset Management L.P. now owns 1,155,937 shares of the biopharmaceutical company’s stock valued at $61,033,000 after acquiring an additional 11,937 shares during the period. Hedge funds and other institutional investors own 94.16% of the company’s stock.
CLVS has been the subject of a number of research analyst reports. SunTrust Banks upped their price objective on shares of Clovis Oncology to $90.00 and gave the company a “buy” rating in a research report on Monday, April 9th. Bank of America dropped their price target on shares of Clovis Oncology from $90.00 to $55.52 and set a “buy” rating for the company in a research report on Monday, April 9th. BidaskClub cut shares of Clovis Oncology from a “sell” rating to a “strong sell” rating in a research note on Wednesday, March 21st. Credit Suisse Group set a $86.00 price target on shares of Clovis Oncology and gave the company a “buy” rating in a research note on Friday, April 6th. Finally, Cann initiated coverage on shares of Clovis Oncology in a research note on Friday, March 23rd. They issued a “hold” rating on the stock. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and thirteen have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $84.09.
In related news, Director Thorlef Spickschen sold 4,500 shares of the company’s stock in a transaction that occurred on Monday, April 9th. The shares were sold at an average price of $60.02, for a total transaction of $270,090.00. Following the completion of the transaction, the director now directly owns 7,618 shares in the company, valued at approximately $457,232.36. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 10.20% of the stock is currently owned by insiders.
Shares of CLVS stock opened at $45.47 on Friday. The stock has a market cap of $2.36 billion, a P/E ratio of -8.88 and a beta of 0.94. The company has a quick ratio of 5.74, a current ratio of 6.55 and a debt-to-equity ratio of 0.92. Clovis Oncology has a 52 week low of $41.31 and a 52 week high of $99.45.
Clovis Oncology (NASDAQ:CLVS) last issued its quarterly earnings data on Tuesday, May 8th. The biopharmaceutical company reported ($1.54) earnings per share for the quarter, missing the consensus estimate of ($1.36) by ($0.18). The business had revenue of $18.50 million during the quarter, compared to analyst estimates of $18.34 million. Clovis Oncology had a negative return on equity of 79.02% and a negative net margin of 545.80%. Clovis Oncology’s revenue for the quarter was up 164.3% compared to the same quarter last year. During the same quarter last year, the firm earned ($1.33) EPS. research analysts forecast that Clovis Oncology will post -5.33 EPS for the current year.
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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