Insider Selling: Clovis Oncology, Inc. (CLVS) Director Sells 18,450 Shares of Stock
Clovis Oncology, Inc. (NASDAQ:CLVS) Director James C. Blair sold 18,450 shares of the company’s stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $78.61, for a total value of $1,450,354.50. Following the transaction, the director now directly owns 2,185 shares in the company, valued at approximately $171,762.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Shares of Clovis Oncology, Inc. (NASDAQ CLVS) traded down 2.19% during mid-day trading on Tuesday, hitting $75.60. The stock had a trading volume of 1,284,091 shares. Clovis Oncology, Inc. has a 12 month low of $15.21 and a 12 month high of $99.45. The stock’s 50-day moving average is $88.98 and its 200 day moving average is $66.52. The firm’s market cap is $3.37 billion.
Clovis Oncology (NASDAQ:CLVS) last issued its 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 analysts’ expectations of $13.07 million. The company’s quarterly revenue was down 32.5% on a year-over-year basis. During the same period in the prior year, the firm posted ($2.07) EPS. Equities research analysts predict that Clovis Oncology, Inc. will post ($7.15) earnings per share for the current fiscal year.
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A number of research analysts have recently commented on CLVS shares. ValuEngine cut Clovis Oncology from a “hold” rating to a “sell” rating in a research note on Friday, May 19th. BidaskClub raised Clovis Oncology from a “hold” rating to a “buy” rating in a research note on Wednesday, June 21st. SunTrust Banks, Inc. reissued a “buy” rating on shares of Clovis Oncology in a research note on Thursday, June 22nd. Oppenheimer Holdings, Inc. started coverage on Clovis Oncology in a research note on Friday, June 23rd. They issued a “market perform” rating on the stock. Finally, Cann reissued a “hold” rating on shares of Clovis Oncology in a research note on Monday, July 31st. Eight investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $81.59.
Institutional investors have recently modified their holdings of the company. First Mercantile Trust Co. purchased a new position in shares of Clovis Oncology during the first quarter worth approximately $115,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Clovis Oncology by 71.4% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,819 shares of the biopharmaceutical company’s stock worth $116,000 after buying an additional 758 shares during the last quarter. Advisors Asset Management Inc. increased its position 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 worth $177,000 after buying an additional 1,168 shares during the last quarter. PNC Financial Services Group Inc. increased its position in shares of 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 worth $179,000 after buying an additional 100 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new position in shares of Clovis Oncology during the first quarter worth approximately $185,000. Hedge funds and other institutional investors own 90.67% of the company’s stock.
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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