Palo Alto Investors LP Boosts Stake in Clovis Oncology (CLVS)

Palo Alto Investors LP grew its position in shares of Clovis Oncology (NASDAQ:CLVS) by 16.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,955,660 shares of the biopharmaceutical company’s stock after purchasing an additional 552,879 shares during the period. Clovis Oncology makes up about 8.9% of Palo Alto Investors LP’s investment portfolio, making the stock its 2nd largest position. Palo Alto Investors LP owned approximately 7.53% of Clovis Oncology worth $208,859,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Ladenburg Thalmann Financial Services Inc. grew its position in shares of Clovis Oncology by 5,000.0% during the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,550 shares of the biopharmaceutical company’s stock worth $135,000 after buying an additional 2,500 shares in the last quarter. Quantbot Technologies LP acquired a new stake in shares of Clovis Oncology during the first quarter worth approximately $146,000. Xact Kapitalforvaltning AB acquired a new stake in shares of Clovis Oncology during the fourth quarter worth approximately $328,000. LPL Financial LLC grew its position in shares of Clovis Oncology by 66.6% during the first quarter. LPL Financial LLC now owns 5,461 shares of the biopharmaceutical company’s stock worth $288,000 after buying an additional 2,184 shares in the last quarter. Finally, US Bancorp DE grew its position in shares of Clovis Oncology by 819.2% during the first quarter. US Bancorp DE now owns 5,589 shares of the biopharmaceutical company’s stock worth $296,000 after buying an additional 4,981 shares in the last quarter. Institutional investors own 94.01% of the company’s stock.

Shares of Clovis Oncology opened at $45.03 on Thursday, according to Marketbeat.com. Clovis Oncology has a 1 year low of $41.31 and a 1 year high of $99.45. The firm has a market cap of $2.25 billion, a PE ratio of -8.79 and a beta of 0.94. The company has a debt-to-equity ratio of 0.92, a current ratio of 6.55 and a quick ratio of 5.74.

Clovis Oncology (NASDAQ:CLVS) last announced its quarterly earnings results on Tuesday, May 8th. The biopharmaceutical company reported ($1.54) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.36) by ($0.18). Clovis Oncology had a negative net margin of 545.80% and a negative return on equity of 79.02%. The firm had revenue of $18.50 million for the quarter, compared to analyst estimates of $18.34 million. During the same period last year, the firm posted ($1.33) EPS. The business’s revenue was up 164.3% compared to the same quarter last year. analysts anticipate that Clovis Oncology will post -5.42 earnings per share for the current year.

In other Clovis Oncology news, Director Thorlef Spickschen sold 4,500 shares of the business’s stock in a transaction dated Monday, April 9th. The stock was sold at an average price of $60.02, for a total transaction of $270,090.00. Following the sale, the director now 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 this link. 10.20% of the stock is currently owned by insiders.

CLVS has been the subject of a number of recent analyst reports. Cann reissued a “hold” rating on shares of Clovis Oncology in a research report on Sunday, April 8th. BidaskClub downgraded shares of Clovis Oncology from a “hold” rating to a “sell” rating in a report on Thursday, April 19th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $73.00 price objective on shares of Clovis Oncology in a report on Tuesday. Barclays set a $85.00 price objective on shares of Clovis Oncology and gave the stock a “buy” rating in a report on Tuesday, February 27th. Finally, Zacks Investment Research raised shares of Clovis Oncology from a “sell” rating to a “hold” rating in a report on Wednesday, February 21st. Two analysts have rated the stock with a sell rating, four have issued a hold rating and fourteen have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $84.00.

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.

Institutional Ownership by Quarter for Clovis Oncology (NASDAQ:CLVS)

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